Change - Announcement of Cessation::Retirement of Non-Executive Independent Director
Issuer & Securities
Issuer/ Manager
FIGTREE HOLDINGS LIMITED
Securities
FIGTREE HOLDINGS LIMITED - SG2G36998349 - 5F4
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Jul-2024 18:57:54
Status
New
Announcement Sub Title
Retirement of Non-Executive Independent Director
Announcement Reference
SG240729OTHR6X4L
Submitted By (Co./ Ind. Name)
Siaw Ken Ket @ Danny Siaw
Designation
Managing Director
Description (Please provide a detailed description of the event in the box below)
Please refer to the attachment.
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 Foo Jien Jieng, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg
Additional Details
Name Of Person
Pong Chen Yih
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
29/07/2024
Detailed Reason (s) for cessation
Mr Pong Chen Yih has expressed his intention to retire at the forthcoming Annual General Meeting to be held on 29 July 2024 ("2024 AGM") as he has served on the Board as Non-Executive Independent Director from financial year 2014 to year 2024 (both years inclusive) [from the date of appointment 8 October 2013 to the date of retirement 29 July 2024]. This is also to comply with Rule 406(3)(d)(iv) of the Catalist Rules.
Accordingly, he will retire as a Non-Executive Independent Chairman, Chairman of the Nominating Committee, Audit Committee member and Remuneration Committee member at the conclusion of the 2024 AGM.
Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than disclosed in this announcement, there are no other material reasons for the cessation.
The Company is in the midst of sourcing for the suitable candidate to fill the vacancy so as to meet the requirement of the Catalist Rules on the minimum number of members in the Audit Committee and to take up the role of Audit Committee member by 29 September 2024 and in any case, no latest by 29 October 2024. The Company will update shareholders accordingly once it has appointed a suitable candidate to fill the vacancy.
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
08/10/2013
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Independent Director, Chairman of the Nominating Committee, Audit Committee member and Remuneration Committee member
Role and responsibilities
Duties of Non-Executive Independent Director, Chairman of the Nominating Committee, Audit Committee member and Remuneration Committee member
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)
Figtree Holdings Limited
Acumen Holdings Pte. Ltd.
Acumen Research Laboratories Pte. Ltd.
Umbrella Ventures Pte. Ltd.
GVT Technologies Limited
Present
Novus Corporate Finance Pte. Ltd.
Novus Investment Holdings Pte. Ltd.
Grand Venture Technology Limited
HRnetGroup Limited
Rex International Holding Limited
Moroxite Holding Pte. Ltd.
Rex Technology Investments Pte. Ltd.
Related Announcements
Related Announcements
29/07/2024 21:03:07