Change - Announcement of Cessation::Cessation of Mr. Serge Pun as the Executive Chairman

Issuer & Securities

Issuer/ Manager
YOMA STRATEGIC HOLDINGS LTD.
Securities
YOMA STRATEGIC HOLDINGS LTD - SG1T74931364 - Z59
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
24-Jul-2024 19:41:15
Status
New
Announcement Sub Title
Cessation of Mr. Serge Pun as the Executive Chairman
Announcement Reference
SG240724OTHR4EAT
Submitted By (Co./ Ind. Name)
Melvyn Pun
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr. Serge Pun as the Executive Chairman

Additional Details

Name Of Person
Serge Pun
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
24/07/2024
Detailed Reason (s) for cessation
Please refer to the Company's announcement on "Yoma Strategic Announces Leadership Transition" dated 24 July 2024. Mr. Serge Pun, having been the Executive Chairman of the Company for more than 17 years since August 2006, tendered his resignation on 24 July 2024. Mr. Serge Pun, along with the Board of Directors of the Company, have determined that it is in the best interest of the Company, its shareholders, its employees, and its customers to accelerate the leadership succession plans of the Company. It will enable Mr. Serge Pun to dedicate his attention to resolving matters relating to his engagement with the Myanmar authorities concerning banking activities in the country, and preserve the stability 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?
Yes
If Yes, Please provide full details
Please refer to the Company's announcement on "Yoma Strategic Announces Leadership Transition" dated 24 July 2024.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
17/08/2006
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman
Role and responsibilities
Mr. Serge Pun was responsible for providing the overall leadership and strategic vision of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
A substantial shareholder of the Company. Father of Mr. Pun Chi Tung Melvyn who is an Executive Director and the Chief Executive Officer of the Company and Mr. Pun Chi Yam Cyrus who is the alternate director to Mr. Serge Pun.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest: 628,636,358 ordinary shares. 528,873,333 ordinary shares are held through nominee companies.
Deemed interest: 896,790 ordinary shares held by Pun Holdings Pte. Ltd. which is 100% owned by Mr. Serge Pun.
Past (for the last 5 years)
Please see attachment.
Present
Please see attachment.

Attachments

Directorships Past Present-Serge Pun.pdf
Total size =124K