Change - Announcement of Cessation::Change - Announcement of Cessation

Issuer & Securities

Issuer/ Manager
CHINA SKY CHEMICAL FIBRE CO., LTD.
Securities
CHINA SKY CHEM FIBRE CO., LTD. - KYG211051043 - E90
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
19-Sep-2018 18:44:26
Status
New
Announcement Sub Title
Change - Announcement of Cessation
Announcement Reference
SG180919OTHRB5WL
Submitted By (Co./ Ind. Name)
Yit Chee Wah
Designation
Judicial Manager
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Non-Independent Director

Additional Details

Name Of Person
Ling Yew Kong
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
19/09/2018
Detailed Reason (s) for cessation
A judicial manager was appointed over China Sky Chemical Fibre Co., Ltd. by the High Court on 14 September 2018. Pursuant to Section 277G of the Companies Act, during the period on which the judicial management order is in force, all powers conferred and duties imposed on the directors shall be exercised and performed by the judicial manager and not by directors. In view thereof, Mr Ling resigned as a Non-Executive Non-Independent Director following the judicial management order.
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?
Yes
If Yes, Please provide full details
Please refer to the Company announcement on 17 July 2018 in relation to Resignation of Chief Executive Officer and Executive Director.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the Company announcement on 17 July 2018 in relation to Resignation of Chief Executive Officer and Executive Director.
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the Company announcement on 17 July 2018 in relation to Resignation of Chief Executive Officer and Executive Director.
Date of Appointment to current position
16/07/2018
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Non-Independent Director
Role and responsibilities
Non-Executive Non-Independent 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?
Yes
Shareholding Details
Direct interest: 100,000 ordinary shares
Deemed interest: 25,000,000 ordinary shares held by Alphasky Group Limited, which is wholly-owned by Mr Long
Past (for the last 5 years)
(1) TX Capital Pte Ltd
(2) Malaysian Resources Pte Ltd
(3) Moya Holdings Asia Ltd
(4) Moya Asia Pte Ltd
(5) Moya Indonesia Holdings Pte Ltd
(6) Pacific Star (Greater China) Pte Ltd
(7) Pacific Star (China Holdings) Pte Ltd
(8) Golden Rock Investments Pte Ltd
(9) Revenue Holdings Pte Ltd
(10) Graess Energy Pte Ltd
(11) Pacific Venus Overseas Inc
(12) Anwell Technologies Limited
(13) SBI Offshore Limited
(14) Way Big Holdings Limited
(15) Solar Energy Investments Pte Ltd
(16) Firstlink Financial Assets Pte Ltd
Present
(1) Alphasky Group Limited
(2) Amanviva Hospitality Sdn Bhd
(3) CKSB Agrifeed Sdn Bhd
(4) Cove Pacific Development Limited
(5) Deluxe Dragon International Limited
(6) Exquisite Concierge Pte Ltd
(7) Firstlink Capital Pte Ltd
(8) Firstlink Capital Management Pte Ltd
(9) Firstlink Energy Pte Ltd
(1) Firstlink Investment Advisory Pte Ltd
(11) Firstlink Investments Corporation Limited
(12) Fonda Global Engineering (M) Sdn Bhd
(13) Glopeak Land Pte Ltd
(14) Glopeak Properties and Hotels Pte Ltd
(15) GR (HK) Pte Ltd
(16) Jiangyin SBI Offshore Equipment Co., Ltd
(17) Keluarga International Pte Ltd
(18) Ling Chai Hiong Sdn Bhd
(19) ML Chong Sdn Bhd
(20) One Way Investment Pte Ltd
(21) Singapore International Tourism Investments Pte Ltd
(22) Singatronics Investment Pte Ltd
(23) Terra Pontus Pte Ltd
(24) Winburg Company Limited