Change - Announcement of Cessation::Retiring as Director of the Company

Issuer & Securities

Issuer/ Manager
MARCO POLO MARINE LTD.
Securities
MARCO POLO MARINE LTD. - SG1W14938268 - 5LY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
06-Jan-2020 00:05:09
Status
New
Announcement Sub Title
Retiring as Director of the Company
Announcement Reference
SG200106OTHRAUS9
Submitted By (Co./ Ind. Name)
Sean Lee Yun Feng
Designation
CEO
Description (Please provide a detailed description of the event in the box below)
Mr Lee Wan Tang will be retiring as a Director of the Company pursuant to Regulation 103 of the Constitution of the Company, and he will not be seeking re-election at the Annual General Meeting.

Additional Details

Name Of Person
Lee Wan Tang
Age
70
Is effective date of cessation known?
Yes
If yes, please provide the date
21/01/2020
Detailed Reason (s) for cessation
Retiring from the board to take on a more passive role as an honorary advisor to 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
13/09/2007
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman
Role and responsibilities
Mr Lee Wan Tang is the Executive Chairman of the Group. He is responsible for the strategic positioning and business expansion of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Lee Wan Tang is the Father of Mr Sean Lee Yun Feng (Chief Executive Officer and Executive Director of the Company) and Ms Liely Lee (Chief Financial Officer and Alternate Director to Mr Lee Wan Tang).
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Lee Wan Tang directly holds 14,826,200 Ordinary Shares in the Company. Mr Lee is also deemed interested in 367,335,113 in the Company as a result of :i) 200,418,974 Ordinary Shares held by Nautical Holdings Ltd, and ii) 166,916,139 bonus Warrants issued and allotted on 29 January 2018.
Past (for the last 5 years)
1) GOLD PARK PTY LTD
Present
1) MARCO POLO SHIPPING CO PTE LTD
2) ALLIANCE MINING CORPORATION PTE. LTD.
3) ALLIANCE MINING INVESTMENTS PTE. LTD.
4) EUROSTONE (SINGAPORE) PTE. LTD.
5) NAUTICAL INTERNATIONAL HOLDINGS LTD (BVI)
6) VAST RESOURCES ASSETS LIMITED (BVI)
7) MARCO POLO SHIPYARD PTE. LTD.
8) MP MARINE PTE. LTD.
9) NEW RESOURCES TECHNOLOGY PTE. LTD.