Change - Announcement of Cessation::RETIREMENT OF LEAD INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
HIAP TONG CORPORATION LTD.
Securities
HIAP TONG CORPORATION LTD. - SG1Z16951381 - 5PO
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Jul-2025 06:41:42
Status
New
Announcement Sub Title
RETIREMENT OF LEAD INDEPENDENT DIRECTOR
Announcement Reference
SG250707OTHRRSVG
Submitted By (Co./ Ind. Name)
Lim Guek Hong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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 Lee Khai Yinn (Tel: (65) 6232 3210) at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Tito Shane Isaac
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
29/07/2025
Detailed Reason (s) for cessation
Mr Tito Shane Isaac ("Mr Isaac") is due to retire as Director pursuant to Regulation 95 of the Company's Constitution at the forthcoming annual general meeting ("AGM") to be held on 29 July 2025. As part of the Board renewal process and in compliance with Rule 406(3)(d)(iv) of the Listing Manual Section B: Rules of Catalist of the SGX-ST ("Catalist Rules"), Mr Isaac has expressed his intention to retire from the Board and not seek for re-election at the forthcoming AGM. Upon Mr Isaac's retirement, he will also relinquish his positions as Chairman of the Nominating Committee, member of the Audit Committee and Remuneration Committee.

The Board would like to express its gratitude towards Mr Isaac for his valuable and significant contributions to the Company during his tenure of service.

In light of Mr Isaac's retirement, the Nominating Committee has recommended and the Board has concurred that Ms Yiu Nga Yu be appointed as the new Independent Director of the Company. The appointment of Ms Yiu Nga Yu as new Independent Director is subject to the approval of the Shareholders at the forthcoming AGM. The Company will make relevant announcement(s) regarding the appointment of the new Independent Director and the reconstitution of the Board and Board Committees via the SGXNet, at the conclusion of the forthcoming AGM.

After having interviewed Mr Isaac and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no material reasons for the retirement of Mr Isaac as the Lead 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
01/07/2016
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)
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.)
Lead Independent Director, Chairman of the Nominating Committee as well as member of the Audit Committee and Remuneration Committee.
Role and responsibilities
Lead Independent Director, Chairman of the Nominating Committee as well as member of the 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
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
1) Shanaya Ltd
2) Agrilever Pte Ltd
3) New Wave Holdings Ltd
Present
International Institute of Mediators (Singapore) Limited