Change - Announcement of Cessation::Cessation of Lee Shieh-Peen Clement as an Executive Director and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
SYNAGIE CORPORATION LTD.
Securities
SYNAGIE CORPORATION LTD. - SGXE31442804 - V2Y
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Nov-2020 23:57:58
Status
New
Announcement Sub Title
Cessation of Lee Shieh-Peen Clement as an Executive Director and Chief Executive Officer
Announcement Reference
SG201105OTHRCN54
Submitted By (Co./ Ind. Name)
Lim Chuan Poh
Designation
Non-Executive and Independent Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, RHT Capital Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the 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 Mr Khong Choun Mun - Registered Professional, 6 Raffles Quay, #24-02, Singapore 048580, sponsor@rhtgoc.com

Additional Details

Name Of Person
Lee Shieh-Peen Clement
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
05/11/2020
Detailed Reason (s) for cessation
It is a condition in the sale and purchase agreement dated 5 August 2020, which the Company had entered into with Synagistics Pte. Ltd., as a purchaser, and Metadrome Ltd., as a guarantor to the Company, that Mr Lee Shieh-Peen Clement resigns from his positions as Executive Director and Chief Executive Officer of the Company upon the completion of the disposal of the entire e-commerce, e-commerce enabler and logistics business (including the technology and business solutions in relation to the foregoing) of the Group by the Company.

Accordingly, in light of the fact that completion of the disposal of the entire e-commerce, e-commerce enabler and logistics business (including the technology and business solutions in relation to the foregoing) of the Group by the Company had taken place on 5 November 2020, Mr Lee Shieh-Peen Clement has resigned from his positions as Executive Director and Chief Executive Officer of the Company with immediate effect.

After having interviewed Mr Lee Shieh-Peen Clement and to the best of its knowledge, the Company's Sponsor, RHT Capital Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Lee Shieh-Peen Clement as an Executive Director and the Chief Executive Officer 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
28/06/2017
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Role and responsibilities
Executive. Mr Lee Shieh-Peen Clement is responsible for the general management and business development of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Yes. Mr Lee Shieh-Peen Clement is the sibling of Ms Zanetta Lee Yue (Zanetta Li Yu) who is an Executive Director and a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Lee Shieh-Peen Clement is deemed to be interested in the 71,373,669 ordinary shares in the Company held by Metadrome Ltd. as he is the sole legal and beneficial owner of Metadrome Ltd.
Past (for the last 5 years)
Synagie Corporation Ltd.
Alegria Group Limited
Cheerful China International Limited
Synagie (Vietnam) Company Ltd
Present
BTFL Pte. Ltd.
Synagie Sdn Bhd
Synagie (Thailand) Ltd
Synagie Inc.
Synagie Corporation (Thailand) Limited
Synagistics Pte. Ltd.
Metadrome Ltd