Change - Announcement of Cessation::Cessation of Independent Director and Chairman of Nominating Committee
Issuer & Securities
ASIATIC GROUP (HOLDINGS) LIMITED
ASIATIC GROUP (HOLDINGS) LTD - SG1N86910089 - 5CR
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Independent Director and Chairman of Nominating Committee
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director, Chairman of Nominating Committee, member of Audit Committee and Remuneration Committee.
This announcement (the "Announcement") has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of the Announcement.
This Announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of the Announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in the Announcement.
The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.
Name Of Person
Liew Ah Choy
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Professor Liew Ah Choy will retire via rotation at the forthcoming AGM scheduled on 28 July 2016 and will not be seeking re-election. He has served as an independent director for more than 9 years and is retiring in conjunction with the Board's renewal process. Co-terminus with his retirement, his various appointments on the Board Committees will also cease.
Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Professor Liew Ah Choy as an 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee, member of Audit Committee and Remuneration Committee.
Role and responsibilities
Role and responsibilities as Independent Director, Chairman of Nominating Committee, member of Audit Committee and Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)