Change - Announcement of Cessation::Cessation of Executive Chairman and Director

Issuer & Securities

Issuer/ Manager
Y VENTURES GROUP LTD.
Securities
Y VENTURES GROUP LTD. - SG1DH7000008 - 1F1
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Jul-2022 23:55:02
Status
New
Announcement Sub Title
Cessation of Executive Chairman and Director
Announcement Reference
SG220727OTHRGR9Y
Submitted By (Co./ Ind. Name)
Low Yik Jin
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Chairman and Director - Mr Lew Chern Yong

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").

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assume 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 Leong Weng Tuck - Registered Professional, 6 Raffles Quay, #24-02, Singapore 048580, sponsor@rhtgoc.com

Additional Details

Name Of Person
Lew Chern Yong
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
27/07/2022
Detailed Reason (s) for cessation
To focus on his other commitments.

Based on its enquiries, the Company's sponsor RHT Capital Pte. Ltd. is satisfied that, saved as disclosed in this announcement, there is no other material reason for the cessation of Mr Lew Chern Yong as the Executive Chairman and 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?
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
01/03/2019
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)
4
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Director
Role and responsibilities
Executive. Mr Lew Chern Yong is responsible for driving the Group's strategic direction and growth, as well as providing mentorship and guidance to the Management.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Lew Chern Yong is deemed to be interested in 12,500,000 ordinary shares of the Company held by Amber Blaze Limited.
Past (for the last 5 years)
1. Ascendo Academy Pte. Ltd.
2. Ascendo International Holdings Pte. Ltd.
3. CE Asia Holdings Pte. Ltd.
4. Vanda Electrics Pte. Ltd.
5. WFVen Pte. Ltd.
6. Wong Fong Academy Pte. Ltd.
7. Wong Fong Engineering Works (1988) Pte Ltd
8. WFRIC Shenzhen Co., Ltd
Present
1. Amber Blaze Limited
2. Chimpworld Pte. Ltd.
3. Chimpworld International Pte. Ltd.
4. Jimmy Lew Holding Pte. Ltd.
5. JustNile Pte. Ltd.
6. JustNile (SEA) Pte. Ltd.
7. LYJ International Pte. Ltd.
8. Northlight School
9. SKAP Logistics Pte. Ltd.
10. SKAP Waste Management Pte. Ltd.
11. Toyrrential Pte. Ltd.
12. Wong Fong Investments Pte. Ltd.
13. Wong Fong Industries Limited
14. Y Ventures Lab Pte. Ltd.