Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
ARTIVISION TECHNOLOGIES LTD.
Securities
ARTIVISION TECHNOLOGIES LTD. - SG1X21941023 - 5NK
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Aug-2017 17:48:28
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG170822OTHR8DDN
Submitted By (Co./ Ind. Name)
Harry Ng Weng Sui
Designation
Non-Executive Chairman and Independent Director
Description (Please provide a detailed description of the event in the box below)
RESIGNATION OF INDEPENDENT DIRECTOR

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist. 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 Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Koh Boon Liang
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
22/08/2017
Detailed Reason (s) for cessation
Mr Koh has resigned as a Director of the Company due to his other commitments.

The Company's sponsor, ZICO Capital Pte. Ltd., after having interviewed Mr Koh, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Koh as a 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?
Yes
If Yes, Please provide full details
Following the resignation of Mr Koh, the Audit Committee of the Company will not be able to meet the requirement of Rule 704(7) of the Catalist Rules whereby the Audit Committee of the Company must have a minimum of three (3) members. In addition, the Company does not comply with the Singapore Code of Corporate Governance 2012 with regards to the compositions of the Audit Committee, Nominating Committee and Remuneration Committee of the Company. The Company shall endeavour to fill the vacancy within two (2) months, and in any case not later than three (3) months.
Date of Appointment to current position
12/09/2011
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
7
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Remuneration Committee, Member of the Audit Committee and Nominating Committee
Role and responsibilities
Independent and Non-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 Koh holds an aggregate of 3,116,666 ordinary shares in the capital of the Company.
Past (for the last 5 years)
True Fitness Ltd
True Spa Co Ltd
True Cafe and Bar Ltd
True Concept Ltd
True Yoga Holdings Limited
Present
Pacific Venture Enterprise Limited