Change - Announcement of Cessation::RESIGNATION OF EXECUTIVE CHAIRMAN

Issuer & Securities

Issuer/ Manager
ACROMETA GROUP LIMITED
Securities
ACROMETA GROUP LIMITED - SG1CH1000006 - 43F
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Feb-2024 19:00:56
Status
New
Announcement Sub Title
RESIGNATION OF EXECUTIVE CHAIRMAN
Announcement Reference
SG240208OTHRP4GN
Submitted By (Co./ Ind. Name)
Lim Say Chin
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)

This announcement has been reviewed by the Company's sponsor, Evolve Capital Advisory 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 document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Chua Hiang Hwee Jerry, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com

Additional Details

Name Of Person
Levin Lee Keng Weng
Age
56
Is effective date of cessation known?
Yes
If yes, please provide the date
07/02/2024
Detailed Reason (s) for cessation
Mr Levin Lee Keng Weng ("Mr Lee") had tender his resignation as an Executive Chairman of the Company due to his health reasons.

Mr Lee is on hospitalisation leave and on doctor's advice, decided to take a longer leave of absence. As such, he will step down from the role of Executive Chairman and Director to focus on recuperating. He will however remain as the management of AcroMeta Minerals Pte Ltd to assist the Group to explore the sand export business as announced on 15 November 2023.

The Company would like to express its gratitude and appreciation towards Mr Lee's valuable contributions to the Board during his tenure and wish him a speedy recovery.

The Company's Sponsor, Evolve Capital Advisory Private Limited., having interviewed Mr Lee, is satisfied that, save as disclosed in the announcement, there are no material reasons for the resignation of Mr Lee as Executive Chairman 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
30/01/2023
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
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman
Role and responsibilities
1. Corporate Finance to seek investors, raise funds for the Company either through new equity raisings, bank loans, warrants, rights or options to support the Company s current and future objectives;
2. Business Development to explore and assess new business for future expansion of the Company; and
3. Investor Relations to manage investor relations and shareholder communication.

The Board have discussed and agreed that Lim Say Chin, the CEO and Executive Director will assume these duties in the meantime.


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?
Yes
Shareholding Details
Direct interest - 67,625,000 shares


Other Directorships
Past (for the last 5 years)
Wincash Apolo Gold & Energy Inc.
Grand Ages Precious Metals Ltd
Nutryfarm International Limited
Present
Ace Peak Capital Group Private Limited
Sino Pacific Capital Limited
Jubilee Industries Holdings Limited