Change - Announcement of Cessation::Cessation of Managing Director of UPP Pulp & Paper (M) Sdn Bhd
Issuer & Securities
AVARGA LIMITED - SG1K55001665 - U09
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Managing Director of UPP Pulp & Paper (M) Sdn Bhd
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
Re-designation of Koh Wan Kai ("Mr Koh") from the Managing Director of UPP Pulp & Paper (M) Sdn Bhd, a subsidiary of the Company ("UPP") to a non-full time executive officer of UPP.
Name Of Person
Koh Wan Kai
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
As part of the Group's leadership transformation and renewal exercise, the Board has concurred with the Nominating Committee's recommendation and approved the re-designation of Mr Koh from the Managing Director of UPP to a non-full time executive officer of UPP, to support the new leadership team in order to ensure a smooth transition.
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.)
Managing Director of UPP
Role and responsibilities
Mr Koh Wan Kai is responsible for the overall management and operations of the paper manufacturing business.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
1. Avarga Investment Pte Ltd
2. UPP Capital (M) Sdn Bhd (nka Avarga (M) Sdn Bhd)
1. UPP Industries Pte Ltd
2. UPP Greentech Pte Ltd
3. UPP Pulp & Paper (M) Sdn Bhd
4. UPP Recycled Fibre (M) Sdn Bhd