Change - Announcement of Cessation::Resignation of Non-Executive Non-Independent Director and Chairman - Cheong Weixiong

Issuer & Securities

Issuer/ Manager
CWX GLOBAL LIMITED
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-May-2020 20:50:58
Status
New
Announcement Sub Title
Resignation of Non-Executive Non-Independent Director and Chairman - Cheong Weixiong
Announcement Reference
SG200507OTHR55PZ
Submitted By (Co./ Ind. Name)
Pang Kee Chai, Jeffrey
Designation
Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Executive Non-Independent Director of the Company and Chairman of the Board.

This announcement has been prepared by CWX Global Limited (the "Company") and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement 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 Ms Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Cheong Weixiong
Age
39
Is effective date of cessation known?
Yes
If yes, please provide the date
07/05/2020
Detailed Reason (s) for cessation
Mr Cheong Weixiong ("Mr Cheong") has resigned as Non-Executive Non-Independent Director of the Company and Chairman of the Board due to his personal commitment. Upon Mr Cheong's resignation, he will also cease to be the Chairman of the Nominating Committee and the Remuneration Committee, as well as a member of the Audit Committee.

The Sponsor, after having interviewed Mr Cheong, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Cheong as the Non-Executive Non-Independent Director of the Company and Chairman of the Board.
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
18/04/2017
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Non-Independent Director, Chairman of the Board, Chairman of Nominating Committee and Remuneration Committee, member of Audit Committee
Role and responsibilities
Assumed the roles and responsibilities of the Non-Executive Non-Independent Director of the Company and Chairman of the Board, Chairman of the Nominating Committee and the Remuneration Committee, as well as a member of the Audit 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?
Yes
Shareholding Details
Mr Cheong holds 741,800 ordinary shares and 57,758,550 warrants in the listed issuer.
Past (for the last 5 years)
HLN Micron Pte. Ltd.
Vanke Land Pte. Ltd.
CWX Investments Pte. Ltd.
Sinjia RTE Solutions Pte. Ltd.
Present
Sinjia Land Limited
HLN Rubber Products Pte. Ltd.
Sinjia Properties Pte. Ltd.
Longfor Pte. Ltd.
HY Industries Pte. Ltd.