Change - Announcement of Cessation::RESIGNATION OF CHIEF FINANCIAL OFFICER OF THE GROUP

Issuer & Securities

Issuer/ Manager
SIM LEISURE GROUP LTD.
Securities
SIM LEISURE GROUP LTD. - SGXE75616446 - URR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Jun-2020 17:17:18
Status
New
Announcement Sub Title
RESIGNATION OF CHIEF FINANCIAL OFFICER OF THE GROUP
Announcement Reference
SG200601OTHRUN1W
Submitted By (Co./ Ind. Name)
Sim Choo Kheng
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. ("Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by 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 Ms Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Seah Kheng Hong
Age
45
Is effective date of cessation known?
Yes
If yes, please provide the date
18/06/2020
Detailed Reason (s) for cessation
Mr Seah Kheng Hong ("Mr Seah") has resigned as the Chief Financial Officer of the Company to pursue other career opportunities.

The Sponsor, after having interviewed Mr Seah, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Seah as the Chief Financial Officer of the Company.

In addition, there are no concerns with regards to financial reporting that led to the resignation of Mr Seah and there are no disagreements between him and the Board of Directors of the Company with regards to practices that would have an impact to the Company's financial reporting.

Mr Seah is currently serving his notice period and pursuant to mutual agreement with the Company, his last day of employment will be 17 June 2020. For the avoidance of doubt, Mr Seah will remain as the Chief Financial Officer of the Company, and will continue to ensure smooth functioning of the operations of the finance team of the Group, until the effective date of his resignation (i.e. 18 June 2020). In the meanwhile, the Company has commenced the search for a suitable replacement for Mr Seah.
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
16/12/2019
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Mr Seah is responsible for overseeing the financial and accounting functions of the Group, including financial reporting, internal controls and taxation.
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
Past (for the last 5 years)
Nil
Present
Nil