Change - Announcement of Cessation::Cessation of Executive Director and Chairman
Issuer & Securities
VIKING OFFSHORE AND MARINE LIMITED
VIKING OFFSHORE & MARINE LTD - SGXE45420721 - 1Y1
VIKING OFFSHORE & MA W220701 - SGXN37575515 - KZHW
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Executive Director and Chairman
Submitted By (Co./ Ind. Name)
Ng Yeau Chong
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Andy Lim as Executive Director and Chairman.
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.
The 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.
Name Of Person
Andy Lim ("Mr Lim")
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Lim, having been the Chairman and Executive Director of the Company for more than twelve years since June 2009, tendered his resignation on 4 January 2022. This is to allow for renewal of the Board of Directors of the Company ("Board") and the key management team of the Company, subsequent to the closing date of the mandatory general offer of the Company on 3 January 2022. Taking into consideration that (i) the Company has a Chief Executive Officer who shall continue to be responsible for the day-to-day operations of the Group; and (ii) the Company has appointed a Executive Director with effect from 6 January 2022 who shall be responsible for the corporate development of the Group and introduction of new businesses to the Group, the Board (excluding Mr Lim) and Mr Lim have agreed to the immediate cessation under employment of the Company, and Mr Lim shall cease to be a director and an executive of the Company with effect from 6 January 2022.
After having interviewed Mr Lim and to the best of its knowledge, the Company's Sponsor, ZICO Capital Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Lim as a director of the Company.
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.)
Executive Director and Chairman
Role and responsibilities
Mr Lim is responsible for the overall business operations of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Lim is the cousin of the spouse of Mr Ng Yeau Chong (Executive Director and Chief Executive Officer of the Company).
Shareholding interest in the listed issuer and its subsidiaries?
Direct interest: 4,872,861 ordinary shares and 696,122 warrants in the listed issuer.
Deemed interest: 588,000 ordinary shares and 84,000 warrants in the listed issuer held by Associated Leisure International Pte Ltd whereby Mr Lim holds a 99% shareholding interest.
Past (for the last 5 years)
Tembusu Growth Fund II Ltd
Tembusu Growth GIP Fund Ltd
Tembusu Growth Fund III Ltd
Globalroam Group Ltd.
Tembusu-Bona Media Fund Ltd.
Top Glove Corporation Berhad
Money World Asia Pte Ltd
MWA Capital Pte. Ltd
Money World Marketing Pte. Ltd
Tembusu Arbitrage Fund Ltd
Associated Leisure International Pte. Ltd
Tembusu China Growth Fund Pte. Ltd
Tembusu ICT Fund I Pte. Ltd
Pacific - AL Consultancy Pte. Ltd
Tembusu Partners Pte. Ltd