Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
AMARA HOLDINGS LIMITED
Securities
AMARA HOLDINGS LTD - SG1F08854688 - A34
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Apr-2022 21:26:22
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG220426OTHROXQ7
Submitted By (Co./ Ind. Name)
Ms Susan Teo Geok Tin / Ms Foo Soon Soo
Designation
Company Secretaries
Description (Please provide a detailed description of the event in the box below)
Cessation of Tan Tiong Cheng as Independent Director

Additional Details

Name Of Person
Tan Tiong Cheng
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
26/04/2022
Detailed Reason (s) for cessation
Mr Tan retired at the conclusion of the Annual General Meeting in accordance with Regulation 87 of the Company's Constitution.
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?
Yes
If Yes, Please provide full details
Mr Tan would like to highlight that:

There are outstanding material issues before the Remuneration Committee which are being investigated to be resolved.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Mr Tan would like to highlight that:

Subsequent to 27 April 2022, there will be only one independent director, Mr Chia Kwok Ping, left and he had earlier indicated to the Chairman his desire to step down from the Board after new independent directors have been found, and so far one new independent director has accepted the appointment and 3 more must be found.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
21/06/2018
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)
2
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.)
Independent Director; Member of Audit Committee and Chairman of Remuneration Committee.
Role and responsibilities
Responsibilities as Independent Director; Member of Audit Committee and Chairman of Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest in Amara Holdings Limited - 92,900 shares
Past (for the last 5 years)
Nil
Present
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