Change - Announcement of Cessation::Resignation of Non-Executive Chairman and Independent Director - Mr Wang Daofu

Issuer & Securities

Issuer/ Manager
MATEX INTERNATIONAL LIMITED
Securities
MATEX INTERNATIONAL LIMITED - SG1P13916389 - M15
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Sep-2025 19:41:27
Status
New
Announcement Sub Title
Resignation of Non-Executive Chairman and Independent Director - Mr Wang Daofu
Announcement Reference
SG250916OTHRKIXP
Submitted By (Co./ Ind. Name)
James Kho Chung Wah
Designation
Independent Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Wang Daofu as the Non-Executive Chairman and Independent Director of the Company with effect from 15 September 2025.

This announcement has been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Ms. Goh Mei Xian, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Wang Daofu
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
15/09/2025
Detailed Reason (s) for cessation
Mr Wang Daofu ("Mr Wang") has informed the Company that his nine-year tenure as an Independent Director of the Company would be on 10 January 2026. In light of recent settlement agreement reached among the relevant shareholders of the Company and the restructuring of the Board of Directors of the Company (the "Board"), Mr Wang has decided to step down to facilitate the smooth and unified formation of the new Board. The Company is preparing for the settlement agreement announcement to be released separately soonest practicable.

Accordingly, Mr Wang has tendered his resignation with immediate effect from his role as Non-Executive Chairman of the Board and Independent Director of the Company, as well as Chairman of the Remuneration Committee and a Member of the Audit Committee and the Nominating Committee. The Board has accepted Mr Wang's resignation.

The Board would like to express its gratitude and appreciation towards Mr Wang for his valuable contributions to the Board during his tenure.

After having interviewed Mr Wang, and to the best of its knowledge, the Company's Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Wang as Non-Executive Chairman and Independent Director of the Company.

Following Mr Wang's resignation, there is a vacancy within the Audit Committee of the Company to meet the minimum number of members pursuant to the Catalist Rules and the Companies Act 1967 of Singapore. The Company will update shareholders on the aforementioned matter as and when appropriate.
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
11/01/2017
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)
2
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.)
Non-Executive Chairman and Independent Director, Chairman of the RC and a Member of the AC & the NC
Role and responsibilities
Assumed the role and responsibilities of the Non-Executive Chairman and Independent Director, Chairman of the Remuneration Committee and a Member of the Audit Committee and the Nominating Committee
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?
No
Other Directorships
Past (for the last 5 years)
Proceq Trading (Shanghai) Co., Ltd.
Mobo Information Technology Pte. Ltd.
SGD Investment Pte. Ltd.
Th Straits 2015 Pte. Ltd.
Present
Matex International Limited
Sunpower Group Ltd.