Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
RICH CAPITAL HOLDINGS LIMITED
Securities
RICH CAPITAL HOLDINGS LIMITED - SG2G63000001 - 5G4
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Dec-2018 21:52:47
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG181226OTHRQIXV
Submitted By (Co./ Ind. Name)
Wang Zhenwen
Designation
Non-Independent Non-Executive Chairman
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, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Joseph Au, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person
Oh Sikai
Age
34
Is effective date of cessation known?
Yes
If yes, please provide the date
26/12/2018
Detailed Reason (s) for cessation
Due to personal health reasons.

Based on its enquiries, the Company's sponsor PrimePartners Corporate Finance Pte. Ltd. is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Oh Sikai as the Executive Director.
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?
Yes
If Yes, Please provide full details
The Company is in the process of searching for a suitable replacement at the appropriate time and will announce such an appointment in the SGXNET accordingly. During this interim period, all existing on-going projects will continue to be managed by the respective project managers whom shall provide latest update and state of affairs to Mr Wang ZhenWen ("Mr Wang") Non-Executive Chairman of the Company, on behalf of the Board. For existing and future interested person transactions that involve Mr Wang and his associates, being interested persons, they shall continue to abstain from participation and deliberations, wherein all relevant matters will only be approved by the independent directors of the Company.
Date of Appointment to current position
15/08/2018
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 Director
Role and responsibilities
Overall management, operations, strategic planning and business expansion of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Yes. Mr Oh Sikai is the son of Mr Oh Keh Yew, a substantial shareholder of the Company, with a direct and deemed
shareholding interest of 6%.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest : 11,000,000 shares
Past (for the last 5 years)
Tech Built Construction Pte. Ltd.
Lam Chee Holdings Pte. Ltd.
Lam Chee Corporation Pte. Ltd.
Lam Chee Properties Pte. Ltd.
Lam Chee Land Pte. Ltd.
Koh Lee Huat Holdings Pte. Ltd.
Trustbuild Construction Pte. Ltd.
LC Integrated Pte. Ltd.
First Capital Pte. Ltd.
Oxley Batam Pte. Ltd.
Rich Batam Private Limited
Rich Capital International Holdings Pte.
Ltd.
Rich Capital Land Pte. Ltd.
Rich Capital Realty Pte. Ltd.
Roomwise Holdings Pte. Ltd.
Present
Lam Chee Credit Pte. Ltd. (Dormant)
Skyone Construction Pte. Ltd.(Dormant)