Change - Announcement of Cessation::RETIREMENT OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
NEW WAVE HOLDINGS LTD.
Securities
NEW WAVE HOLDINGS LTD. - SG1Q78923675 - 5FX
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Jul-2024 21:14:08
Status
New
Announcement Sub Title
RETIREMENT OF INDEPENDENT DIRECTOR
Announcement Reference
SG240726OTHR56SF
Submitted By (Co./ Ind. Name)
Ong Kian Soon
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement relates to the retirement of Mr Lee Teong Sang as Independent Director of the Company.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
LEE TEONG SANG
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
29/07/2024
Detailed Reason (s) for cessation
As part of the Board rejuvenation process and to comply with Rule 406(3)(d)(iv) of the SGX-ST Listing Manual Section B: Rules of Catalist, Mr Lee Teong Sang ("Mr Lee"), who has served on the Board for more than nine years, will not be seeking re-election at the Company's Annual General Meeting and will retire as Independent Director after the conclusion of the Annual General Meeting. Accordingly, Mr Lee will relinquish his position as Chairman of the Nominating Committee and member of the Audit Committee and the Remuneration Committee.

The Company wishes to express its gratitude and appreciation to Mr Lee for his invaluable contributions during his tenure as Independent Director of the Company.

Based on its enquiries, and to the best of its knowledge, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr. Lee as the 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?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
27/03/2003
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director of the Company, Chairman of the Nominating Committee and member of the Audit Committee and the Remuneration Committee
Role and responsibilities
Independent Director of the Company, Chairman of the Nominating Committee and member of the Audit 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
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Shanaya Limited
Present
Cyrus Corporation Pte Ltd
Kyrus Investment Pte. Ltd.
Scent Loft Pte. Ltd.