Change - Announcement of Cessation::Announcement of Cessation of Independent Director and Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
RAFFLES INFRASTRUCTURE HOLDINGS LIMITED
Securities
RAFFLES INFRASTRUCTUREHLDGSLTD - BMG7354C1038 - LUY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Oct-2023 17:17:46
Status
New
Announcement Sub Title
Announcement of Cessation of Independent Director and Non-Executive Chairman
Announcement Reference
SG231027OTHR5902
Submitted By (Co./ Ind. Name)
Chay Yiowmin
Designation
Lead Independent Director
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Independent Director and Non-Executive Chairman

Additional Details

Name Of Person
Wong Ann Chai
Age
56
Is effective date of cessation known?
Yes
If yes, please provide the date
27/10/2023
Detailed Reason (s) for cessation
Mr Wong Ann Chai has resigned in view of the unwillingness of the Company's shareholders to inject more capital and/or procure an exit offer with cash as per SGX listing rules for delisting. The requisition by shareholders to remove him belies the clear loss of mandate or confidence in him as an Independent Director.

Mr Wong Ann Chai confirms that there are no concerns or disagreements with the Board or management of the Company over matters involving the Company that led to his 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
01/10/2020
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)
1
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.)
Non-Executive Chairman and NC Chairman
Role and responsibilities
Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Oceanus Group Limited
Haggaitwo Pte. Ltd.
Oceanus Tech Pte. Ltd.
NTI Memtech Pte. Ltd.
Present
Nanosun Pte. Ltd.
SG Aquakulture Pte. Ltd.