Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager: NGSC LIMITED
Securities: NGSC LIMITED - SG1I31881119 - B07
Stapled Security: No

Announcement Details

Announcement Title: Change - Announcement of Cessation
Date &Time of Broadcast: 26-Apr-2021 17:45:39
Status: New
Announcement Sub Title: Resignation of Independent Director
Announcement Reference: SG210426OTHRH2TC
Submitted By (Co./ Ind. Name): Michael Kuan-Chi Sun
Designation: Executive Director
Description (Please provide a detailed description of the event in the box below): Resignation of Independent Director

Additional Details

Name Of Person: Chew Chin Wee
Age: 48
Is effective date of cessation known?: Yes
If yes, please provide the date: 26/04/2021
Detailed Reason (s) for cessation: 1. Unable to provide necessary time commitment required for role of Independent Director of NGSC Ltd, given complexity of NGSC Group entity structure;

2. Inadequate resources to assist directors in ensuring due diligence, corporate governance and compliance;

3. Disagreement with the management's practice to favour a certain shareholder.
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: 15/10/2019
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): 1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months: 5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.): Independent Director, Chairman of Audit Committee and Member of Remuneration Committee.
Role and responsibilities: Independent Director, Chairman of Audit Committee and Member of Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries: No
Shareholding interest in the listed issuer and its subsidiaries?: No
Past (for the last 5 years): 1) NGSC Investment Management Pte. Ltd.
2) NGSC Capital Pte. Ltd.
Present: 1) ResMed Curative Suzhou
2) ResMed Curative Beijing
3) ResMed Malaysia Operations Sdn Bhd
4) ResMed (Malaysia) Sdn Bhd
5) ResMed Asia Pte. Ltd.
6) Bon Elements Pte. Ltd.
7) Bon Aesthetics Pte. Ltd.

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