Change - Announcement of Cessation::ANNOUNCEMENT OF CESSATION

Issuer & Securities

Issuer/ Manager
METECH INTERNATIONAL LIMITED
Securities
METECH INTERNATIONAL LTD - SGXE91187273 - V3M
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Jun-2024 22:03:09
Status
New
Announcement Sub Title
ANNOUNCEMENT OF CESSATION
Announcement Reference
SG240624OTHR9Q1J
Submitted By (Co./ Ind. Name)
ER KWONG WAH
Designation
INDEPENDENT DIRECTOR
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This 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 Mr. Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #04-02 Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
HWANG KIN SOON IGNATIUS
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
29/06/2024
Detailed Reason (s) for cessation
Mr. Hwang Kin Soon Ignatius ("Mr. Hwang") will be retiring by rotation pursuant to Regulation 88 of the Company's Constitution at the upcoming Annual General Meeting of the Company and has decided not to seek for re-election as a Director of the Company due to his increased work demands and personal commitments. Following Mr. Hwang's cessation as an Independent Director, he will also cease to be the Chairman of Nominating Committee and member of Audit Committee and Remuneration Committee of the Company. The cessation of Mr. Hwang as an Independent Director will render the Audit Committee of the Company to have less than three members. The Company is aware of the requirements under Rule 704(7) of the Catalist Rules and the Code of Corporate Governance 2018, and will endeavour to fill the vacancy within two months, but in any case no later than three months.

After having interviewed Mr. Hwang and to the best of its knowledge, the Company's Sponsor is satisfied that saved as disclosed in the announcement, there are no other material reasons for the retirement of Mr. Hwang as an Independent Director.
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
20/05/2024
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
8
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director and Chairman of Nominating Committee and 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
No.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
1. Lumia Energy Pte. Ltd.
2. Nutryfarm International Limited
Present
1. Moya Holdings Asia Limited
2. Moya Indonesia Holdings Pte. Ltd.
3. Moya Energy Holdings Pte. Ltd.
4. Obor Infrastructure Pte. Ltd.
5. VR Partners Pte. Ltd.
6. Nine Capital Pte. Ltd.
7. Futurestep Advisory Pte. Ltd.
8. Garnet Energie Pte. Ltd.
9. STRAYSNOMORE Limited
10. Dynamic Success Pte. Ltd.
11. Design Capital Limited