Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
PACIFIC STAR DEVELOPMENT LIMITED
Securities
PACIFIC STAR DEVELOPMENT LTD - SG1DE5000007 - 1C5
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Jun-2019 07:13:13
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG190601OTHRCLNZ
Submitted By (Co./ Ind. Name)
Glen Chan
Designation
CEO & Managing Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director

This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor"). It has not
been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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 Mr David Yeong Kai Xiong (tel : (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Yee Kee Shian, Leon
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
31/05/2019
Detailed Reason (s) for cessation
Mr Yee Kee Shian, Leon ("Mr Yee") had expressed his desire to step down as a board member of the Company and to focus on his primary work commitments.

The Sponsor, after having interviewed Mr Yee, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr Yee as an Independent Director of the Company.

The Company expresses its gratitude to Mr Yee for his valuable contributions during his tenure of service.
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
The Board notes that the Audit, Nominating and Remuneration Committees will have less than 3 members following the resignation of Mr Yee. The Company will endeavour to appoint an independent director to replace Mr Yee on these committees in due course.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
15/02/2017
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 Non-Executive Chairman, Chairman of the Nominating Committee and the Remuneration Committee, and member of the Audit Committee
Role and responsibilities
Acting as independent non-executive Chairman of the Company, overseeing the functions of the Board of Directors and as Chairman of the Nominating Committee and Remuneration Committee, and a member of the Audit 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
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