Change - Announcement of Cessation::Re-Designation as Executive Director - Mr. Lee Keck Keong

Issuer & Securities

Issuer/ Manager
UG HEALTHCARE CORPORATION LIMITED
Securities
UG HEALTHCARE CORPORATIONLTD - SGXE48766716 - 8K7
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Feb-2025 19:19:34
Status
New
Announcement Sub Title
Re-Designation as Executive Director - Mr. Lee Keck Keong
Announcement Reference
SG250227OTHRX8EP
Submitted By (Co./ Ind. Name)
Lee Jun Yih
Designation
Executive Director
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 Charmian Lim (Tel: (65) 6232 3210) at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Lee Keck Keong
Age
70
Is effective date of cessation known?
Yes
If yes, please provide the date
01/03/2025
Detailed Reason (s) for cessation
As part of the Board's succession planning, Mr. Lee Keck Keong ("Mr. Lee") will relinquish his role and responsibilities as Chief Executive Officer ("CEO") of the Company and remain as an Executive Director of the Company to focus on the operations of the active retirement home project. Concurrently, Mr. Lee will also step down as a member of the Nominating Committee ("NC") with effect from 1 March 2025.

Following the re-designation of Mr. Lee, Mr. Lee Jun Yih and Mr. Lee Jun Linn will be appointed as Joint CEO of the Company with effect from 1 March 2025. Both Mr. Lee Jun Yih and Mr. Lee Jun Linn will assume and share the responsibilities previously held by Mr. Lee, in addition to their current responsibilities as Executive Director and Finance Director, and Executive Director and Chief Operating Officer respectively.

The re-designation of Mr. Lee as Executive Director of the Company based on the NC's recommendation has been approved by the Board.

The Company's sponsor, SAC Capital Private Limited, after having interviewed Mr. Lee, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the re-designation of Mr. Lee from Executive Director and CEO to Executive 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?
No
Date of Appointment to current position
19/10/2016
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
NC Member
Role and responsibilities
Executive. Mr. Lee oversees
(i) the formulation of the overall business and corporate policies and strategies of the Group
(ii) the overall management of the business and operations of the Group
(iii) the Group's overall business development
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr. Lee Keck Keong is the father of Mr. Lee Jun Yih (the Executive Director, Finance Director and a substantial shareholder of the Company) and Mr. Lee Jun Linn (the Executive Director, Chief Operating Officer and a substantial shareholder of the Company). Mr. Lee Keck Keong is also the spouse of a substantial shareholder of the Company, Madam Sim Ai Cheng.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Deemed interested in 374,729,122 shares through Zen UG Pte. Ltd. and Raydion Direct Global Inc., representing 60.07% shareholdings of the Company.
Past (for the last 5 years)
Nil.
Present
Within the Group:
1. N.S. UNI-GLOVES SDN BHD
2. UG GLOBAL RESOURCES SDN BHD
3. UG ENGINEERING SDN BHD
4. UG HEALTHCARE SDN BHD
5. INDIGO TEGUH SDN BHD
6. UNIGLOVES SHANGHAI CO. LTD
7. UNIGLOVES (UK) LIMITED
8. UNIGLOVES SUZHOU CO LTD.
9. UNIGLOVES CHENGDU CO LTD.

Other Companies:
10. ANVEST CORPORATION SDN BHD
11. IDEAL SPLENDOUR SDN BHD
12. VECTOR ACRES SDN BHD
13. UG GLOBAL PRODUCTS SDN BHD