Change - Announcement of Cessation::Cessation as CEO of a Principal Subsidiary who is a relative of a substantial shareholder

Issuer & Securities

Issuer/ Manager
RAFFLES UNITED HOLDINGS LTD.
Securities
RAFFLES UNITED HOLDINGS LTD. - SG1C10012922 - K22
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
02-May-2017 18:45:29
Status
New
Announcement Sub Title
Cessation as CEO of a Principal Subsidiary who is a relative of a substantial shareholder
Announcement Reference
SG170502OTHR4ZBY
Submitted By (Co./ Ind. Name)
Teo Teng Beng
Designation
Managing Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Koh Hai Yang, as Chief Executive Officer of Kian Ho Pte Ltd, a principal subsidiary, who is a relative to a substantial shareholder.

Additional Details

Name Of Person
Koh Hai Yang
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2017
Detailed Reason (s) for cessation
The Listing Rule 704(9) is not applicable as Mr Koh has ceased the position as CEO and is re-designated as Business Development Director of the wholly-owned subsidiary, Kian Ho Pte Ltd ( KHPL ), with effect from 28 April 2017. He will take charge of sourcing for bearings and seals products and supplier relations. He will continue to oversee the China and Malaysia operations. He remains as Director of KHPL.
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
25/08/2015
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)
3
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.)
Chief Executive Officer of KHPL
Role and responsibilities
Duties as a Chief Executive Officer of KHPL
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Son-in-law of Mr Kwek Che Yong, deemed substantial shareholder of the Company and Chairman of KHPL.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
0.29% direct interest and 0.89% deemed interest in the Company through SBS Nominees Pte Ltd and OCBC Nominees Singapore.
Past (for the last 5 years)
1. Ascend Bearings Co., Ltd
2. Kian Ho Guangzhou Co., Ltd (Director and Legal Representative)
Present
1. Kian Ho Bearings (M) Sdn Bhd
2. Kian Ho Shanghai Co., Ltd (Director and Legal Representative)
3. Acker Machinery (Shanghai) Co., Ltd (Director and Legal Representative)
4. Kian Ho (Vietnam) Co., Ltd (Director and Legal Representative)
5. Kian Ho Bearings (Thailand) Co., Ltd
6. KH Bearings and Seals Pty Ltd
7. Kian Ho Pte Ltd
8. Raffles Logistics Operations Pte Ltd
9. KWP Engineering & Industrial Supply Sdn Bhd
10. Raffles Land & Investments Pte Ltd
11. Raffles Capital Enterprise Pte Ltd
12. Raffles Majestic Realty Pte Ltd
13. Raffles Acres Pte Ltd