Change - Announcement of Cessation::RESIGNATION OF EXECUTIVE DIRECTOR AND GROUP CHIEF FINANCIAL OFFICER

Issuer & Securities

Issuer/ Manager
SYSMA HOLDINGS LIMITED
Securities
SYSMA HOLDINGS LIMITED - SG2F06984247 - 5UO
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Mar-2018 17:44:56
Status
New
Announcement Sub Title
RESIGNATION OF EXECUTIVE DIRECTOR AND GROUP CHIEF FINANCIAL OFFICER
Announcement Reference
SG180314OTHREE0V
Submitted By (Co./ Ind. Name)
Sin Soon Teng
Designation
Executive Chairman and Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Reference is made to the announcement pertaining to the Cessation of Executive Director and Group Chief Financial Officer of the Company released on 23 February 2018. There were typographical errors made on the present directorship and note disclosed therein. This amended announcement is to supersede the abovementioned announcement released on 23 February 2018.

SPONSOR STATEMENT:-

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
ANDY GOH BENG KWANG
Age
43
Is effective date of cessation known?
Yes
If yes, please provide the date
16/08/2018
Detailed Reason (s) for cessation
Mr Andy Goh Beng Kwang has tendered his resignation as Executive Director and Group Chief Financial Officer of the Company to pursue other opportunities.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Andy Goh Beng Kwang as the Executive Director and Group Chief Financial Officer.

In addition, there are no concerns with regards to the financial reporting that led to the departure of Mr Andy Goh Beng Kwang and there are no disagreements between Mr Andy Goh Beng Kwang and the Company's Board of Directors with regard to the practices that will have an impact on the Company's financial reporting.
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?
Yes
If Yes, Please provide full details
The Company is in the midst of looking for a replacement and will seek to appoint a new Group Chief Financial Officer prior to Mr Andy Goh Beng Kwang's effective date of cessation on 16 August 2018.
Date of Appointment to current position
01/04/2015
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.)
Executive Director and Group Chief Financial Officer
Role and responsibilities
Responsible for matters relating to mergers and acquisitions, treasury and finance as well as supporting the Group CEO in the formulation of corporate strategies and the future direction of the Group.
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
Direct Interest-200,000 ordinary shares
Past (for the last 5 years)
Sysma Energy Pte Ltd
Present
*(1) GCAP Properties Pte. Ltd.
*(2) Sysma Capital Pte. Ltd.
*(3) Coastline Pte. Ltd.
*(4) East Development Pte. Ltd.
(5) S181 Pte. Ltd.
* Mr Andy Goh Beng Kwang will cease to be a director of the aforementioned subsidiaries of the Company by 16 August 2018, in connection with his cessation as the Executive Director and Group Chief Financial Officer.