Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
AVI-TECH HOLDINGS LIMITED
Securities
AVI-TECH HOLDINGS LIMITED - SGXE48832328 - 1R6
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Oct-2024 17:25:25
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG241029OTHR1X5G
Submitted By (Co./ Ind. Name)
Adrian Chan Pengee
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)

Retirement of Independent Director

Additional Details

Name Of Person
Michael Grenville Gray
Age
78
Is effective date of cessation known?
Yes
If yes, please provide the date
29/10/2024
Detailed Reason (s) for cessation

Mr Michael Grenville Gray ("Mr Gray") has decided to retire and not seek re-election to facilitate the renewal and sustainability process of the Board.

The Board of Directors wishes to record its appreciation to Mr Gray for his contribution to the Company over the years.
For the purposes of Board renewal, Mr Giang Sovann was elected at the annual general meeting of the Company held on 29 October 2024 as a non-executive independent 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?
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?
Yes
If Yes, Please provide full details
Independent Directors make up at least one-third of the board, taking into account the cessation of appointment of Mr Gray.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
30/10/2006
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director and Chairman of the Audit and Risk Committee and member of the Remuneration and Nominating Committees
Role and responsibilities
Roles and responsibilities of a Lead Independent Director and Chairman of the Audit and Risk Committee and member of the Remuneration and Nominating Committees
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
Direct interest in 870,000 ordinary shares in the Company
Past (for the last 5 years)
(excluding Subsidiaries and Associates of the Company)

GSH Corporation Limited
Present
Listed Companies (excluding the Company)
FSL Trust Management Pte Ltd

Other Non-Listed Companies (excluding Subsidiaries and Associates of the Company
NIL