Change - Announcement of Cessation::Cessation of Non-Executive Director
Issuer & Securities
PAN ASIAN HOLDINGS LIMITED
PAN ASIAN HOLDINGS LIMITED - SG1Q04920423 - 5EW
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Non-Executive Director
Submitted By (Co./ Ind. Name)
Richard Koh Chye Heng
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Director
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 document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, email@example.com.
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
In support of the Group's Board restructuring plan, Ms Indriati Khoe will be stepping down as Non-Executive Director of Pan Asian Holdings Limited (the "Company"), with effect from 25 November 2020.
The Company will be restructuring its current board member size of 5 to 3.
The Company is restructuring its board for cost-efficiency and effectiveness, that meets its current operational requirements.
After having interviewed Ms. Indriati Khoe and to the best of its knowledge, the Company' Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Ms. Indriati Khoe as the Non-Executive 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.)
Role and responsibilities
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
1. Daughter-in-law of Mr Richard Koh Chye Heng, the Executive Chairman and Substantial Shareholder of the Company
2. Spouse of Mr Koh Eddie, Executive Director and Managing Director cum Chief Executive Officer of the Company (resigned on 25 November 2020) and Substantial Shareholder of the Company
3. Sister-in-law of Ms Kelly Koh, Managing Director of Pan Asian Flow Technology Pte. Ltd., the wholly-owned subsidiary of the Company
Shareholding interest in the listed issuer and its subsidiaries?
Deemed interest of 165,137,500 ordinary shares of Pan Asian Holdings Limited (representing 77.09% interest) held by Xu Jia Zu Holdings Pte. Ltd. by virtue of her spouse, Mr Koh Eddie, holding more than 20% of the total issued shares in Xu Jia Zu Holdings Pte. Ltd.
Past (for the last 5 years)
Children's Vineyard Preschool Pte. Ltd.
Wankai Management Pte. Ltd.