Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
GLOBAL INVACOM GROUP LIMITED
Securities
GLOBAL INVACOM GROUP LIMITED - SG2E91982768 - QS9
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-Jun-2020 07:25:27
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG200603OTHRB2X5
Submitted By (Co./ Ind. Name)
Anthony Brian Taylor
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director.

Additional Details

Name Of Person
Basil Chan
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
25/06/2020
Detailed Reason (s) for cessation
Mr Basil Chan is not seeking for re-election and is stepping down as an Independent Director after the conclusion of the forthcoming Annual General Meeting to be held on 25 June 2020 in order to enable Board renewal. Mr Basil Chan will also cease to be Chairman of the Remuneration Committee and member of Audit and Risk Committee and Nominating Committee.
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
25/04/2012
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, RC Chairman, ARC Member and NC Member
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?
Yes
Shareholding Details
Direct Interest in 165,000 ordinary shares in the Company.
Past (for the last 5 years)
1) YOMA Strategic Holdings Ltd
2) Singapore eDevelopment Ltd
3) SBI Offshore Limited
Present
1) AEM Holdings Ltd
2) Grand Banks Yachts Limited
3) Memories Group Limited
4) Broadway Industrial Group Limited
5) Nera Telecommunications Ltd
6) MBE Corporate Advisory Pte Ltd