Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
AGV GROUP LIMITED
Securities
AGV GROUP LIMITED - SG1DB3000005 - 1A4
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Jun-2018 18:57:29
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG180629OTHR0ZZU
Submitted By (Co./ Ind. Name)
Tan Swee Gek
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited, for compliance with the relevant rules of SGX-ST. The Sponsor has not independently verified the contents of this announcement.

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 Tang Yeng Yuen, Vice President, Head of Corporate Finance who can be contacted at 16 Raffles Quay, #01-05, Hong Leong Building, Singapore 048581, Telephone: (65) 6415 9886.

Additional Details

Name Of Person
Benjamin Choo Chih Chien
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
29/06/2018
Detailed Reason (s) for cessation
Mr Benjamin Choo Chih Chien's resignation is line with the Board s direction to reduce the size of the Board to one that is appropriate for the Company.

The Company s sponsor, Hong Leong Finance Limited, after having interviewed Mr Benjamin Choo Chih Chien, is not aware of any other material reasons for the cessation of Mr Benjamin Choo Chih Chien as the 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?
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
01/04/2016
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director (Chairman of the Remuneration Committee, member of the Audit and Nominating Committees)
Role and responsibilities
Independent Director (Chairman of the Remuneration Committee, member of the Audit and Nominating Committees)
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
75,000
Past (for the last 5 years)
Edmond Pereira Law Corporation
Antioch Communications Pte Ltd
Present
Genesis Law Corporation
Global Beacon Pte Ltd
Bloom Technologies Pte Ltd
PT Property Gamma Investment Pte Ltd
Talent Beacon Student Care Ltd