Change - Announcement of Cessation::Retirement of Independent and Non-Executive Director
Issuer & Securities
AP OIL INTERNATIONAL LIMITED
AP OIL INTERNATIONAL LIMITED - SG1K10892752 - 5AU
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Retirement of Independent and Non-Executive Director
Submitted By (Co./ Ind. Name)
Ho Chee Hon
Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Tan Woon Hum as an Independent and Non-Executive Director.
Name Of Person
Tan Woon Hum
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To institute a progressive renewal of the Board membership, AP Oil International Limited (the "Company") commenced search process in 2020 to select new independent directors. This was completed with the appointment of Mr Mah How Soon ("Mr Mah") and Mr Wan Kum Tho ("Mr Wan") on 4 January 2021. In this connection and to comply with the SGX Listing rule 210(5)d(iii), Mr Tan Woon Hum ("Mr Tan") who is due for retirement at the forthcoming Annual General Meeting to be held on 28 April 2021 ("AGM"), will not seek re-election as an Independent and Non-Executive Director of the Company; and he will concurrently relinquish his position as the Chairman of the Nominating Committee and member of the Audit Committee and Remuneration Committee.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee, Member of Audit Committee and Remuneration Committee
Role and responsibilities
Independent and Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
1) Ezion Holdings Limited
2) YTL Starhill Global Reit