Change - Announcement of Cessation::Cessation of Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
11-Mar-2021 17:31:18
Announcement Sub Title
Cessation of Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Foo Soon Soo
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement on Cessation of Director

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318,

Additional Details

Name Of Person
Fong Heng Boo
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To foster board renewal, Mr Fong Heng Boo has informed the Board that he does not seek re-election as he has served more than nine years and will cease to be independent from 1 January 2022 pursuant to Catalist Rule 410(3)(d)(iii) (which will take effect from 1 January 2022) and therefore will be retiring at the conclusion of the forthcoming Annual General Meeting to be held on 28 April 2021.

After having interviewed Mr Fong Heng Boo and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Fong Heng Boo as the Independent Director of Colex Holdings Limited.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
If Yes, Please provide full details
With the retirement of Fong Heng Boo at the conclusion of the forthcoming AGM on 28 April 2021, the AC will not have a minimum of 3 members. However, the Board will put up 2 candidates for appointment as Directors at the forthcoming AGM on 28 April 2021 who if appointed as Directors, will be appointed to the AC. The AC will then satisfy the requirement to have a minimum of 3 members.
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Audit Committee Chairman, Nominating Committee Chairman, member of Remuneration Committee.
Role and responsibilities
Independent Director, Audit Committee Chairman, Nominating Committee Chairman, member of Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
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