Change - Announcement of Cessation::Retirement of Hew Koon Chan as Independent Director of the Company

Issuer & Securities

Issuer/ Manager
NORDIC GROUP LIMITED
Securities
NORDIC GROUP LIMITED - SG2C45963924 - MR7
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Apr-2019 07:13:43
Status
New
Announcement Sub Title
Retirement of Hew Koon Chan as Independent Director of the Company
Announcement Reference
SG190430OTHRBJ1H
Submitted By (Co./ Ind. Name)
Chia Meng Ru
Designation
Company Secretary
Effective Date and Time of the event
29/04/2019 11:00:00
Description (Please provide a detailed description of the event in the box below)
At the Annual General Meeting on 29 April 2019, in accordance with Article 104 of the Constitution of the Company, Mr Hew Koon Chan has retired as Director of the Company and has decided not to seek re-election. Concurrently, Mr Hew Koon Chan also ceased to be Chairman of the Audit Committee and, a member of the Nominating Committee and Remuneration Committee. The re-constitution of the Board and Board Committees will be announced shortly.

Additional Details

Name Of Person
Hew Koon Chan
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2019
Detailed Reason (s) for cessation
Under the new SGX Listing Rule 210(5)(d)(iii) which will take effect on or after 1 January 2022, an independent director is one who has not served as a director for a cumulative period of 9 years (9-year Rule). Mr Hew Koon Chan who has served as an Independent Director for almost 9 years, stepped down due to the 9-year Rule.
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
16/09/2010
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Audit Committee and member of Remuneration Committee and Nominating Committee
Role and responsibilities
Independent Director, Chairman of Audit Committee and member of Remuneration Committee and Nominating Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Roxy-Pacific Holdings Limited, DeClout Limited, Plasmotech Pte Ltd
Present
Far East Group Limited, Shopper360 Ltd., Integer Capital Pte Ltd, ATXL Invest Pte Ltd, SEA Family Trust Pte Ltd, SP Manufacturing Pte Ltd