Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
TEE INTERNATIONAL LIMITED
Securities
TEE INTERNATIONAL LIMITED - SG2C64965297 - M1Z
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Sep-2022 17:41:32
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG220930OTHROMGZ
Submitted By (Co./ Ind. Name)
Ong Beng Hong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Independent Director

Additional Details

Name Of Person
Hoon Chee Wai
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
30/11/2022
Detailed Reason (s) for cessation
The Company's planned business and debt restructuring exercise have progressed satisfactorily since last year and the proposed scheme of arrangement is on-going. The Company had entered into a conditional subscription agreement with an investor, Meta5 Pte. Ltd. on 18 August 2022 (the "Agreement"). The company is expected to announce its unaudited 4th quarter and full year financial results ended 30 September 2022 by 30 November 2022. Mr Hoon is of the view that it is an appropriate time for him to give notice to resign as an independent non-executive director so that he can concentrate on his other professional and personal commitments.
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 Hoon had abstained from the Company's decision on the Agreement as he had a differing view on certain of the condition precedents to be fulfilled prior to completion in the Agreement.
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
29/12/2020
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.)
Independent Director, Chairman of Audit Committee, Member of Nominating Committee and Member of Remuneration Committee
Role and responsibilities
Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
Autumnglow Pte. Ltd.
Dajoga Consulting Ltd
Fynthesize Pte. Ltd.
Happy Bay Pte. Ltd.
Intraco Limited
Landing Jeju Development Co., Ltd.
Landing Resorts Philippines Development Corporation
Tat Hong Intraco Pte Ltd
Tat Hong Intraco Heavy Equipment Company Limited
Present
Intraco International Pte Ltd
K.A. Group Holdings Pte. Ltd.
K.A. Building Construction Pte Ltd
K.A. Fireproofing Pte Ltd
K.A. Fabric Shutters Pte Ltd
K.A. FireLite Pte. Ltd.
K.A. Vermiculite Spray Sdn Bhd
Kinergy Corporation Ltd
MJF Capital Pte. Ltd.
Provenance Treasures Pte. Ltd. (formerly Inno Tech Pte. Ltd.)
Taurus Point Capital Pte. Ltd.
The Property Market Pte. Ltd.