Change - Announcement of Cessation::Retirement of Mr. Masahiko Yabuki as Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
POLARIS LTD.
Securities
POLARIS LTD. - SG1L96897898 - 5BI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Apr-2024 21:28:29
Status
New
Announcement Sub Title
Retirement of Mr. Masahiko Yabuki as Independent Non-Executive Director
Announcement Reference
SG240415OTHR114D
Submitted By (Co./ Ind. Name)
Soennerstedt Carl Johan Pontus
Designation
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Non-Executive Director

This announcement has been prepared by the Company, and its contents have been reviewed by the Company's Sponsor, Evolve Capital Advisory Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). It has not been examined or approved by 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. Jerry Chua (Telephone Number +65 6241 6626), Registered Professional, Evolve Capital Advisory Private Limited, 138 Robinson Road, Oxley Tower, #13-02, Singapore 068906.

Additional Details

Name Of Person
Masahiko Yabuki
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2024
Detailed Reason (s) for cessation
In line with the Board's renewal process, Mr. Masahiko Yabuki ("Mr. Yabuki"), an Independent Non-Executive Director, has decided not to seek re-election and will retire upon the conclusion of the Company's Annual General Meeting to be held on 30 April 2024 and will consequently cease to be the Chairman of the Nominating Committee ("NC") and a member of the Audit and Risk Management Committee ("ARMC") and the Remuneration Committee ("RC").

After having interviewed Mr. Yabuki and to the best of its knowledge, the Company's Sponsor, Evolve Capital Advisory Private Limited, is satisfied that save as disclosed in this announcement, there are no other material reasons for the retirement of Mr. Yabuki as an Independent Non-Executive Director 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
05/02/2018
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)
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 Non-Executive Director, NC Chairman, ARMC Member, RC Member
Role and responsibilities
Carry out the responsibilities as an Independent Non-Executive Director, the Chairman of the NC and member of the ARMC and the RC.
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
Past (for the last 5 years)
Nil
Present
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