Change - Announcement of Cessation::Cessation of Chairman and Executive Director
Issuer & Securities
ADVENTUS HOLDINGS LIMITED
ADVENTUS HOLDINGS LIMITED - SG1P24916816 - 5EF
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Chairman and Executive Director
Submitted By (Co./ Ind. Name)
Lee Bee Fong
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, RHT Capital 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:-
Name: Mr Khong Choun Mun, Registered Professional, RHT Capital Pte. Ltd.
Address: 9 Raffles Place #29-01, Republic Plaza Tower 1, Singapore 048619
Telephone: 6381 6757
Name Of Person
Chin Bay Ching
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Chin is currently involved in a personal litigation matter which may take up a significant amount of his time. Additionally, as there are also medical issues concerning Mr Chin's spouse, Mr Chin has decided to spend more time with his spouse.
Based on its enquiries, the Company's sponsor, RHT Capital Pte. Ltd., is satisfied that, other than disclosed in this announcement, there are no other material reasons for the cessation of Mr Chin as the Chairman and 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
If Yes, Please provide full details
It was noted that the Company and Mr Chin had mutually agreed to waive the notice period of 3 months required from Mr Chin as per the service agreement.
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman and Executive Director and member of Nominating Committee.
Role and responsibilities
Overall responsible for the business, management and operation of the Company and its subsidiaries.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Chin is the father of Chin Rui Xiang, Executive Director of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Direct Interest: 82,942,256 shares
Deemed Interest: 1,161,662,875 shares
Past (for the last 5 years)
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ADV S2 Pte. Ltd.
ADV S3 Pte. Ltd.
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Adventus Resources Pte. Ltd.
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Altenergy Pte. Ltd.
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Bay Development & Holding Pte. Ltd.
Bay Development Pte. Ltd.
Bay Energy Pte. Ltd.
Bay Hotel & Resort Pte. Ltd.
Beaufort Investment Pte. Ltd.
Cathay Overseas International Pte. Ltd.
Fiesta Development Pte. Ltd.
Firotti Holdings Pte. Ltd.
Glory Investment Holding Pte. Ltd.
Silver Stone Mining Pte. Ltd.
Springfield Investment Pte. Ltd.
Whistler Investment Holding Pte. Ltd.
White Investment Pte. Ltd.