Change - Announcement of Cessation::CESSATION OF LEAD INDEPENDENT NON-EXECUTIVE DIRECTOR - LEE SEN CHOON
Issuer & Securities
SOON LIAN HOLDINGS LIMITED
SOON LIAN HOLDINGS LIMITED - SG1W36938981 - 5MD
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION OF LEAD INDEPENDENT NON-EXECUTIVE DIRECTOR - LEE SEN CHOON
Submitted By (Co./ Ind. Name)
Tan Yee Ho
Description (Please provide a detailed description of the event in the box below)
Resignation of Lead Independent Non-Executive Director, Lee Sen Choon.
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.
Name Of Person
Lee Sen Choon
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Lee Sen Choon ("Mr Lee") has tendered his resignation as the Lead Independent Non-Executive Director of Soon Lian Holdings Limited (the "Company") ("Resignation") as he wishes to commit more time to his family-run accounting practice, UHY Lee Seng Chan & Co (the "Firm"), since the passing of his elder brother and the managing partner of the Firm in late 2019. Mr Lee has also considered that he, having been on the board of directors of the Company for more than 9 years, would be up for re-election under the 2-tier shareholders voting system in 2021 pursuant to Rule 406(3)(d)(iii) of the Catalist Rules. Following the Resignation, Mr Lee shall also cease to be the Chairman of the Audit Committee, as well as a member of the Nominating Committee and the Remuneration Committee of the Company with effect from 22 April 2020.
After having interviewed Mr Lee and to the best of its knowledge, the Company's sponsor, ZICO Capital Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no material reasons for the resignation of Mr Lee as the Lead Independent Non-Executive Director of the Company.
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?
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.)
Lead Independent Non-Executive Director, Chairman of the Audit Committee and a member of the Nominating Committee and the Remuneration Committee.
Role and responsibilities
Assumed the roles and responsibilities of the Lead Independent Non-Executive Director, Chairman of the Audit Committee and a member of the Nominating Committee and the 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?
Direct interest of 50,000 shares in the Company
Past (for the last 5 years)
SCHS International Pte Ltd
1. Best World International Limited
2. Leta Enterprise Sdn Bhd
3. Hor Kew Corporation Limited
4. UHY Lee Seng Chan & Co. (Partner)
5. UHY Lee Tax Services Pte. Ltd.
6. LSC & Brothers Pte Ltd
7. LSC Capital Pte. Ltd.
8. LSC Management Consultants Pte Ltd
9. Ming Hwa Industry Sdn Bhd
10. Shanghai Welfare Group Co Ltd
11. Spiral Holdings Sdn Bhd
12. Transco Sdn Bhd
13. UHY Lee Advisory Pte. Ltd.
14. Singapore Chinese High School
15. Hwa Chong International School