Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
AUTAGCO LTD.
Securities
AUTAGCO LTD. - SG1DF7000002 - 1D3
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Feb-2025 23:30:11
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG250220OTHR0T1C
Submitted By (Co./ Ind. Name)
Ng Boon Hui
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("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 Ms Lee Khai Yinn (Tel: (65) 6232 3210), at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Linda Hoon Siew Kin
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
07/03/2025
Detailed Reason (s) for cessation
Ms Linda Hoon Siew Kin ("Ms Linda Hoon") is due to retire at the upcoming Annual General Meeting ("AGM") to be held on 7 March 2025 pursuant to Regulation 117 of the Company's Constitution and will not be seeking re-election due to other work commitments, including transitioning to academia. Upon her retirement, Ms Linda Hoon will be relinquishing her position as Chairman of Remuneration Committee, Member of the Audit Committee and Member of Nominating Committee.

The Company would like to express its gratitude and appreciation towards Ms Linda Hoon for her valuable contributions to the Board during her tenure.

The Sponsor, after having interviewed Ms Linda Hoon, is satisfied that, save as disclosed in the announcement, there are no material reasons for the retirement of Ms Linda Hoon as 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?
Yes
If Yes, Please provide full details
The auditor of the Company, Forvis Mazars LLP, has issued a disclaimer of opinion on the audited financial statements of the Company and the Group for the financial year ended 31 July 2024 ("FY2024"). Please refer to the Company's FY2024 annual report and announcement dated 20 February 2025 for further information.

The Company is in the midst of identifying new director candidates and will endeavour to fill the vacancies in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rule 704(7) of the Catalist Rules and the Code of Corporate Governance 2018. The Company will make relevant announcement on the composition of the Board and Board Committees of the Company after such appointment.
Date of Appointment to current position
08/05/2024
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Remuneration Committee, Member of Audit Committee and Nominating Committee
Role and responsibilities
Independent Director, Chairman of Remuneration Committee, Member of Audit Committee and Nominating Committee
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?
No
Past (for the last 5 years)
Please refer to Annexure A.
Present
Tru-Marine Pte. Ltd.
Kidney Dialysis Foundation Limited
Far East Group Limited

Attachments

Autagco_Annexure A.pdf
Total size =158K