Change - Announcement of Cessation::Resignation of Executive Chairman

Issuer & Securities

Issuer/ Manager
IMPERIUM CROWN LIMITED
Securities
IMPERIUM CROWN LIMITED - SG1S82928544 - 5HT
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
12-Apr-2023 22:07:21
Status
New
Announcement Sub Title
Resignation of Executive Chairman
Announcement Reference
SG230412OTHRI4C1
Submitted By (Co./ Ind. Name)
Kelly Kiar Lee Noi
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Sun Bowen as an Executive Chairman of the Company.

This announcement has been reviewed by the Company's continuing sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Mr Bernard Lui
Telephone number: (65) 6389 3000
Email address: bernard.lui@morganlewis.com

Additional Details

Name Of Person
Sun Bowen
Age
72
Is effective date of cessation known?
No
If No, please advise when the date will be announced
Please refer to Annexure 1.
Detailed Reason (s) for cessation
1) Health condition has deteriorated in recent months
2) Group is exiting its existing business in China with the disposal of its land use rights to the two plots of land owned by the Group within the Wonder Stone Park, Wonder Stone Hotel and land use rights to the land on which the Wonder Stone Hotel is situated.
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
01/03/2019
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.)
Executive Chairman.
Role and responsibilities
Mr Sun is responsible for the implementation of the Group's strategies to improve overall corporate performance and the achievement of the Group's goals in China.
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?
Yes
Shareholding Details
The Company owns 60% equity interest in Global Entertainment Media Pte Ltd and the remaining 40% is owned by Fortsmith Investments Limited ("Fortsmith"). Mr Sun Bowen is the sole director of Fortsmith and owns 100% equity interest in Fortsmith.
Other Directorships
Past (for the last 5 years)
Please refer to Annexure 2.
Present
Please refer to Annexure 2.

Attachments

Annexure 1.pdf
Annexure 2.pdf
Total size =106K