Change - Announcement of Cessation::STEPPING DOWN OF MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
AZEUS SYSTEMS HOLDINGS LTD.
Securities
AZEUS SYSTEMS HOLDINGS LTD. - BMG075391109 - BBW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Mar-2022 12:09:17
Status
New
Announcement Sub Title
STEPPING DOWN OF MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
Announcement Reference
SG220315OTHR25SK
Submitted By (Co./ Ind. Name)
Lee Wan Lik
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
STEPPING DOWN OF MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER

Additional Details

Name Of Person
Lee Wan Lik
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
15/03/2022
Detailed Reason (s) for cessation
As part of the Company's senior leadership succession plan, Mr Lee Wan Lik ("Mr Lee") will relinquish his position as the Managing Director and Chief Executive Officer of the Company.

Mr Lee will remain as the Executive Chairman and Director of the Company and will continue actively involve with the Group, steering the research and development team to develop innovative technology solutions and adding capabilities to fuel the growth of the Group.
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
12/05/2004
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and member of the Nominating Committee.
Role and responsibilities
Providing leadership and direction to the Board, ensuring its effectiveness in all aspects of its role, including the good governance of the Company and the effective operation of its committees.

Assuming responsibility for strategic initiatives including:
1) Working with the Board and the Company's Chief Executive Officer (CEO) to develop the strategy for the Company's future growth.
2) Working with the CEO to identify opportunities for value-enhancing strategic initiatives including acquisitions, joint ventures, and strategically important relationships.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Lee Wan Lik is the spouse of Ms Lam Pui Wan (the Executive Director of the Company).
Mr Lee Wan Lik is also a Director and shareholder (holding 10% equity interest) of Mu Xia Ltd. Mu Xia Ltd is a substantial shareholder holding 51% shareholding in the capital of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
8,032,132 ordinary shares in the Company (direct interest).
15,300,000 ordinary shares in the Company (deemed interest)
Past (for the last 5 years)
NIL
Present
Current Director of:
- Azeus Systems Holdings Ltd
- Azeus Systems Limited
- Azeus Systems Philippines Inc
- Azeus Systems Manila (BVI) Ltd
- Convene SG Pte. Ltd
- Azeus UK Ltd
- Convene Pty Ltd.
- Azeus Convene (BVI) Limited
- Convene Inc.
- Convene DWC LLC
- Convene India Private Limited
- Convene (SAAS) Ireland
- Convene UK Limited
- Convene Hong Kong Limited