Change - Announcement of Cessation::Announcement of Cessation as Independent Director who is an Audit Committee Member

Issuer & Securities

Issuer/ Manager
FORELAND FABRICTECH HLDS LTD
Securities
FORELAND FABRICTECH HLDS LTD - BMG3658Z1041 - B0I

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
04-Apr-2014 21:25:07
Status
New
Announcement Sub Title
Announcement of Cessation as Independent Director who is an Audit Committee Member
Announcement Reference
SG140404OTHR6Q5A
Submitted By (Co./ Ind. Name)
Tsoi Kin Chit
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Mr Tan Chee Kian has provided one month's notice of his resignation to the Board with effect from 1 March 2014.

The Board of Directors of Foreland Fabrictech Holdings Limited (the Company, together with its subsidiaries, the Group) wishes to announce the resignation of Mr Tan Chee Kian as an Independent Director of the Company with effect from 1 April 2014. Mr Tan Chee Kian will also cease to be the Chairman of the Nominating Committee, member of the Audit Committee and Remuneration Committee.

The Board would like to express its appreciation to Mr Tan Chee Kian for his contribution as Independent Director and the chairing of the Nominating Committee since December 2012.

The Company will appoint a new member of the Audit Committee, Nominating Committee and Remuneration Committee as soon as possible and will announce the appointment accordingly.

Additional Details

Name Of Person
Tan Chee Kian
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
01/04/2014
Detailed Reason (s) for cessation
Differences in opinion with the Management in relation to the handling of the dispute by Jiangxi Longdu, reference of which is made to the announcements dated 13 December 2013, 18 December 2013, 23 December 2013, 26 December 2013, 3 January 2014, 10 January 2014 and 10 February 2014.
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
11/12/2012
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 the NC, member of the AC and RC.
Role and responsibilities
Non-executive and Independent Director
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
Other Directorships
Past (for the last 5 years)
Nil
Present
Nil