Change - Announcement of Cessation::RESIGNATION OF GROUP FINANCIAL CONTROLLER AND JOINT COMPANY SECRETARY

Issuer & Securities

Issuer/ Manager
SHC CAPITAL ASIA LIMITED
Securities
SHC CAPITAL ASIA LIMITED - SG2E89982663 - 5UE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Aug-2014 18:53:54
Status
New
Announcement Sub Title
RESIGNATION OF GROUP FINANCIAL CONTROLLER AND JOINT COMPANY SECRETARY
Announcement Reference
SG140801OTHRCY1X
Submitted By (Co./ Ind. Name)
Chan Lai Yin
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
There are 6 cessations (taking into account this cessation) and 4 new appointments taking place contemporaneously.

This announcement has been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 Tan Cher Ting, Director, Corporate Finance, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: +65 6337 5115.

Additional Details

Name Of Person
Claire Choy Sock Yu
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
01/08/2014
Detailed Reason (s) for cessation
In connection with the proposed disposal ("Proposed Disposal") of the entire issued and paid-up share capital of SHC Insurance Pte. Ltd. ("SHCI") by the Company, Ms Claire Choy Sock Yu had entered into a service agreement with SHCI in relation to her continued employment with SHCI. Following the completion of the Proposed Disposal on 1 August 2014, Ms Claire Choy Sock Yu has resigned from her position held in the Company as Group Financial Controller and Joint Company Secretary with immediate effect.

For the purpose of Rule 704(6)(b) of the Catalist Rules, Ms Claire Choy Sock Yu has confirmed that she is not aware of any irregularities in the Company which would have a material impact on the Company, including financial reporting. The Sponsor is satisfied that there are no other reasons for Ms Claire Choy Sock Yu's resignation.
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?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
15/03/2012
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group Financial Controller and Joint Company Secretary
Role and responsibilities
Ms Claire Choy Sock Yu was appointed as the Financial Controller / Joint Company Secretary of SHCI in January 2008 and was appointed as the Company's Joint Company Secretary on 15 March 2012 and the Group Financial Controller of the Company on 28 June 2012. As the Group Financial Controller and Joint Company Secretary, Ms Choy was responsible for the financial matters and corporate secretarial matters of the Company and SHCI.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
4,170,000 options to subscribe for 4,170,000 new ordinary shares in the Company.
Past (for the last 5 years)
Nil
Present
Nil