Change - Announcement of Cessation::RESIGNATION OF EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
KITCHEN CULTURE HOLDINGS LTD.
Securities
KITCHEN CULTURE HOLDINGS LTD. - SG2D45972171 - 5TI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Jun-2023 23:00:40
Status
New
Announcement Sub Title
RESIGNATION OF EXECUTIVE DIRECTOR
Announcement Reference
SG230626OTHRQK6L
Submitted By (Co./ Ind. Name)
Yip Kean Mun
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Director.

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited(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 Ms. Lee Khai Yinn (Tel (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Lim Wee Li
Age
56
Is effective date of cessation known?
Yes
If yes, please provide the date
26/06/2023
Detailed Reason (s) for cessation
Change of board of directors. The Company has released a separate announcement in relation to the details of change of board composition today. The reconstitution of Board and Board Committees will be deliberated by the incoming board of directors, and the relevant announcement will be released in due course.

Mr Lim Wee Li ("Mr Lim") agrees to provide assistance, if necessary, to the Special Auditor, the Sponsor and the Exchange, on a best effort and when available basis.

SAC Capital Private Limited, after having enquired Mr Lim, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Lim as 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
25/05/2021
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)
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.
Role and responsibilities
Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Lim is a controlling shareholder of the Company holding 66,148,657 ordinary shares in the Company.
Other Directorships
Past (for the last 5 years)
- Wenul Assets (Industrial) Pte. Ltd.
- Newfort Realty Pte. Ltd.
- 3E Leisure Pte Ltd
- Kinji Japanese Dining Pte. Ltd. (struck off)
- Wanton Seng's (Somerset) Pte. Ltd. (struck off)
- KHL Home Appliances Sdn. Bhd.
Present
Within the Group:
- KC Medical Supplies Pte. Ltd.
- KC Technologies Pte. Ltd.
- KHL Marketing Asia-Pacific Pte Ltd
- KHL (Hong Kong) Limited
- Kitchen Culture (China) Limited
- Kitchen Culture (Hong Kong) Limited
- Kitchen Culture (Macau) Limited
- Kitchen Culture Sdn. Bhd.
- Kitchen Culture (Sichuan) Co., Ltd.
- Kitchen Culture Pte. Ltd.
- KCRoom Pte. Ltd.
- KCube Pte. Ltd.
- Haus Furnishings and Interiors Pte. Ltd.
- Beef Up Global Pte. Ltd.

It is intended that Mr Lim Wee Li, contemporaneous with his resignation as a Director of the Company, also resigns as a director of the subsidiaries of the Company as soon as possible upon the appointment of a replacement director for the affected subsidiaries of the Company.

Outside the Group:
- LWL Investments Pte. Ltd.
- Kyoaji Dining Pte. Ltd.
- Kyo-ya Dining Pte Ltd (formerly known as Wanton Global Pte. Ltd.)
- Kyojo Dining Pte Ltd.
- Jungian Artech Pte Ltd
- 1L Pte Ltd
- 1L Capital Pte Ltd (formerly known as Wanton Seng's (Somerset) Pte. Ltd.)
- Three 1 Holdings Pte Ltd