Change - Announcement of Cessation::Demise of Lead Independent Director

Issuer & Securities

Issuer/ Manager
SINCAP GROUP LIMITED
Securities
SINCAP GROUP LIMITED - SG2F03983689 - 5UN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-Oct-2022 23:31:19
Status
New
Announcement Sub Title
Demise of Lead Independent Director
Announcement Reference
SG221018OTHRN7AD
Submitted By (Co./ Ind. Name)
Chu Ming Kin
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Demise of Lead Independent Director, Mr Ng-Hoi Gee, Kit

This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It 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 Mr Bernard Lui. Tel: 6389 3000 Email: bernard.lui@morganlewis.com

Additional Details

Name Of Person
Ng-Hoi Gee, Kit
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
16/10/2022
Detailed Reason (s) for cessation
Mr Ng-Hoi Gee, Kit passed away on 16 October 2022.
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
In view of the unexpected demise of Mr Ng, each of the Nominating Committee, Remuneration Committee and Audit & Risk Committee (respectively) will fall below the minimum of 3 directors as required under the Code of Corproate Governance 2018. The Company is also cognizant of Catalist Rule 704(7) which states that in the event of any cessation which renders the audit committee unable to meet the minimum number (not less than three) the issuer should endeavour to fill the vacancy within two months, but in any case not later than three months. The Company will be sourcing for a new Independent Director to fill the aforementioned vacancies and ensure compliance with the provisions of the Code of Corporate Governance 2018 and the Catalist Rules, and will provide shareholders with further updates on the foregoing matter in due course.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
16/09/2022
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director of the Company, Chairman of Remuneration Committee and member of the Audit and Risk Committee and Nominating Committee
Role and responsibilities
As above.
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?
No
Other Directorships
Past (for the last 5 years)
-
Present
-