Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
GRP LIMITED
Securities
GRP LTD - SG1CD2000004 - BLU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Jun-2023 16:41:31
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG230606OTHRKSUK
Submitted By (Co./ Ind. Name)
Teo Tong How
Designation
Chairman and Independent Non-Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Director of the Company, Mr Kwan Chee Seng ("Mr Kwan").

Additional Details

Name Of Person
Kwan Chee Seng
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
05/06/2023
Detailed Reason (s) for cessation
Consequent to the sale of Mr Kwan's interest in the Company with reference to the Company's announcement dated 6 June 2023, Mr Kwan has tendered his resignation as the Executive Director of the Company on 5 June 2023. The Board has appointed a new Executive Director and Chief Executive Officer to set a path for the new growth of the Company.

Following Mr Kwan's resignation, he will also relinquish his position as a member of the Nominating Committee 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?
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
01/03/2013
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)
4
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
1. Executive Director
2. Member of the Nominating Committee
Role and responsibilities
Executive. Mr Kwan is responsible for the Group's business development.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Yes. Mr Kwan is the father of Ms Kwan Yu Wen, the Non-Executive Non-Independent Director of the Company. Mr Kelvin Kwan Chee Hong, being the General Manager of the Company, is the brother of Mr Kwan.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Kwan has a direct interest in 64,064,440 ordinary shares in the Company, out of which 61,073,940 ordinary shares are registered in the name of Citibank Singapore Pte Ltd which is holding the said shares as bare trustee. Mr Kwan also has a deemed interest in 823,200 ordinary shares in the Company, which is owned by the spouse of Mr Kwan Chee Seng.
Other Directorships
Past (for the last 5 years)
Variscan Mines Limited
Luminor Pacific Fund 1 Ltd.
Luminor Pacific Fund 2 Ltd.
Luminor Harbour Fund 1 Pte. Ltd.
Present
Luminor Financial Holdings Limited
GRP Dormitories Pte. Ltd.
GRP Chongqing Land Pte. Ltd.
GRP Hua Kai (S) Pte. Ltd.
Starland Axis Pte. Ltd.
Starland Commercial Trading Pte. Ltd.
Luminor Capital Pte. Ltd.
Van Der Horst Holdings Pte. Ltd.
Tangshan GRP Trading Co Ltd
GRP Developments Sdn Bhd
GRP Project Management Sdn Bhd
VDH Land Sdn Bhd
Multiple Lodge Sdn Bhd
Rumah Kami Sdn Bhd
Luminor Capital (Malaysia) Sdn Bhd
Dalian Van Der Horst Marine Engineering Co Ltd
Van Der Horst Limited
Van Der Horst Technologies Phils. Inc
VDH Land Inc