Change - Announcement of Cessation::Resignation of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Mar-2022 18:49:43
Announcement Sub Title
Resignation of Independent Non-Executive Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Tan Wee Sin
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr. Chang Chi Hsung as an Independent Director of the Company.

This is to amend the announcement released on 28 February 2022 to include the sponsor statement.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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. Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318,

Additional Details

Name Of Person
Chang Chi Hsung
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
The Board has agreed to accept Mr. Chang Chi Hsung's resignation as Independent Non-Executive Director of the Company with effect from 25 February 2022. There is no notice period required to be served by him.

The reasons are set out in the following question below.

Following Mr. Chang Chi Hsung's resignation, he will also relinquish his position as the Chairman of Audit Committee and a member of the Remuneration Committee of the Company.

After having interviewed Mr. Chang Chi Hsung and to the best of its knowledge, 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. Chang Chi Hsung as an Independent 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?
If Yes, Please provide full details
Differences with management on the administration and the timeliness of certain disclosure and announcement of matters to shareholders. (Refer to the Announcement dated 25th February 2022 on the SGXnet).
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 Non-Executive Director, Chairman of Audit Committee and a member of the Remuneration Committee.
Role and responsibilities
Independent Director of the Company
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)
RF Fund Management Private Limited
Singapore Blockchain Commodities Trading Exchange Pte Ltd
D&A Strategic Capital Pte. Ltd.
OA Corporate Services Pte Ltd
Haina Technology Group Limited
7W Digital Marketing Pte Ltd (struck off)
D&A Strategic Capital Sdn Bhd (struck off)
One Assurance LLP (Partnership) (struck off)
OA International Holdings Pte Ltd
OA Corporate Advisory Pte Ltd
OA Assurance PAC
OA Tax Advisory Pte Ltd
RF International Holdings Private Limited
Reclaims Global Limited
RF Strategic Capital Pte Ltd
Rich Capital Holdings Limited
OA Corporate Advisory (Hong Kong) Limited - (Hong Kong)
Rio Tinto Trading Co, Limited - (Hong Kong)
Heroic Wish Limited - (BVI)
Haina Intelligent Equipment International Holdings Limited - (Cayman)
SCS Corporate Services (M) Sdn Bhd