Change - Announcement of Cessation::Cessation of Non-Executive Director

Issuer & Securities

Issuer/ Manager
DESIGN STUDIO GROUP LTD.
Securities
DESIGN STUDIO GROUP LTD. - SG1O90915222 - D11
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
09-Nov-2015 19:34:47
Status
New
Announcement Sub Title
Cessation of Non-Executive Director
Announcement Reference
SG151109OTHRXSOA
Submitted By (Co./ Ind. Name)
Kelly Ng Chai Choey
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Director and a member of the Nominating Committee and Remuneration Committee

Additional Details

Name Of Person
Mhd.Nadim Akhras
Age
49
Is effective date of cessation known?
Yes
If yes, please provide the date
09/11/2015
Detailed Reason (s) for cessation
Mr Mhd.Nadim Akhras resigned from the Board as he has resigned as the CEO of Depa Limited, the ultimate controlling shareholder 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
15/09/2014
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)
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.)
Non-Executive Director
Remuneration Committee Member
Nominating Committee Member
Role and responsibilities
Non-executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Mhd.Nadim Akhras holds 980,000 of Depa Ltd's shares, among which 480,000 is held under Depa's Employee Stock Ownership Plan.
Past (for the last 5 years)
DDS Asia Holdings Pte Ltd
Present
Design Studio Huizhou (Home Furnishing ) Co., Ltd