Change - Announcement of Cessation::Resignation of Lead Independent Director/Non-Executive Chairman - Yeung Koon Sang @ David Yeung

Issuer & Securities

Issuer/ Manager
MARY CHIA HOLDINGS LIMITED
Securities
MARY CHIA HOLDINGS LIMITED - SG1Y51946677 - 5OX
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-May-2020 18:03:38
Status
New
Announcement Sub Title
Resignation of Lead Independent Director/Non-Executive Chairman - Yeung Koon Sang @ David Yeung
Announcement Reference
SG200515OTHRGIVJ
Submitted By (Co./ Ind. Name)
Ho Yow Ping (He YouPing)
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (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 Tay Sim Yee (Tel: (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 04854.

Additional Details

Name Of Person
Yeung Koon Sang @ David Yeung
Age
70
Is effective date of cessation known?
Yes
If yes, please provide the date
15/05/2020
Detailed Reason (s) for cessation
Mr Yeung Koon Sang @ David Yeung ("Mr Yeung") has been a director of the Company since 11 June 2009 and is stepping down as part of progressive Board renewal after having been on the Board for more than 9 years. He has submitted his resignation letter to the Board dated 15 May 2020 notifying his decision to resign as Director of the Company with immediate effect.

Based on its enquiries, the Company's Sponsor, SAC Capital Private Limited is satisfied that other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Yeung.

Following the resignation of Mr Yeung, who is currently the Chairman of the Audit Committee ("AC"), the AC will not meet the minimum requirement of not less than 3 under Catalist Rule 704(7) and the Nominating Committee and the Board will endeavour to fill this position within 2 months, but in any case not later than 3 months.
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
11/06/2009
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.)
Lead Independent Director/Non-Executive Chairman, Chairman of the Audit Committee and a member of the Remuneration and Nominating Committee
Role and responsibilities
Acted as Independent Non-Executive Chairman, Chairman of the Audit Committee and a member of the Remuneration and Nominating Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Ace Achieve Infocom Limited
CITIC Envirotech Ltd
CNA Group Ltd
Present
AEI Corporation Ltd
Southern Packaging Group Ltd