Change - Announcement of Cessation::Resignation of Ms Wee Yeak Ing as Group Financial Controller

Issuer & Securities

Issuer/ Manager
MEMIONTEC HOLDINGS LTD.
Securities
MEMIONTEC HOLDINGS LTD. - SGXE56008290 - SYM
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-Aug-2020 17:37:55
Status
New
Announcement Sub Title
Resignation of Ms Wee Yeak Ing as Group Financial Controller
Announcement Reference
SG200818OTHRXLUX
Submitted By (Co./ Ind. Name)
Tay Kiat Seng
Designation
Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Ms Wee Yeak Ing as Group Financial Controller.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes 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. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Wee Yeak Ing
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
06/09/2020
Detailed Reason (s) for cessation
Ms Wee Yeak Ing ("Ms Wee") had, on 13 May 2020, tendered her resignation as the Group Financial Controller ("GFC") of the Company and its subsidiaries (the "Group") to pursue other career opportunities ("Resignation").

Ms Wee reaffirmed her decision to leave after being given some time by the management of the Group to reconsider her decision to resign, and the board of directors of the Company ("Board") accepted the Resignation on 17 August 2020.

Ms Wee is currently serving her notice period and pursuant to mutual agreement with the Group, her last day of employment with the Group will be 5 September 2020. For the avoidance of doubt, Ms Wee will remain as the GFC of the Group, and will continue to ensure smooth functioning of the operations of the finance team of the Group, until the effective date of her Resignation (i.e. 6 September 2020). The Company is in the process of finding a replacement for the position of GFC or equivalent, and will make the necessary announcement when a suitable candidate is appointed.

The Sponsor, after having interviewed Ms Wee, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the Resignation of Ms Wee as GFC. In addition, there are no concerns with regards to financial reporting that led to the Resignation of Ms Wee and there are no disagreements between Ms Wee and the Board with regards to practices that would have an impact on the Company's and Group's financial reporting.
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
23/11/2018
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)
4
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.)
Group Financial Controller
Role and responsibilities
Ms Wee is responsible for the overall financial management of the Group including accounting, treasury, risk management and governance framework.
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?
Yes
Shareholding Details
50,000 direct interest in the shares of the Company
Past (for the last 5 years)
Morison Consulting Singapore Pte Ltd
Present
Nil