Change - Announcement of Cessation::Announcement of Cessation of General Manager - Marketing, Sales and Merchandising

Issuer & Securities

Issuer/ Manager
DUTY FREE INTERNATIONAL LIMITED
Securities
DUTY FREE INTERNATIONALLIMITED - SG2C70966271 - 5SO
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Feb-2015 17:18:24
Status
New
Announcement Sub Title
Announcement of Cessation of General Manager - Marketing, Sales and Merchandising
Announcement Reference
SG150227OTHRHBIV
Submitted By (Co./ Ind. Name)
Lee Sze Siang
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Canaccord Genuity Singapore Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). 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 Karen Soh, Managing Director, Corporate Finance, Canaccord Genuity Singapore Pte. Ltd. at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854-6160.

Additional Details

Name Of Person
Chiam Tow Cheang
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
28/02/2015
Detailed Reason (s) for cessation
To pursue personal interests.

The Company's sponsor, Canaccord Genuity Singapore Pte. Ltd., after having interviewed Mr Chiam Tow Cheang, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Chiam Tow Cheang.

The Board of Directors of the Company is of the view that the Group's operations will continue to function smoothly subsequent to Mr Chiam Tow Cheang's cessation.
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
02/05/2013
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
General Manager - Marketing, Sales and Merchandising
Role and responsibilities
Executive. Responsible for formulating, implementing and reviewing sales, marketing and merchandising strategies for the Group's retail business.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
Nil
Present
Nil