Change - Announcement of Cessation::Cessation of Non-Executive Director

Issuer & Securities

Issuer/ Manager
PSL HOLDINGS LIMITED
Securities
PSL HOLDINGS LTD - SG2C18961723 - L6T

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Jun-2014 18:31:33
Status
New
Announcement Sub Title
Cessation of Non-Executive Director
Announcement Reference
SG140630OTHR5TJ3
Submitted By (Co./ Ind. Name)
Tang Yew Quan
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Director

Additional Details

Name Of Person
Chang Yeh Hong
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
27/06/2014
Detailed Reason (s) for cessation
Nordic Group Limited (a substantial shareholder of the Company) exercised the put option granted by Sudirman Kurniawan over 30,000,000 ordinary shares of the Company. Mr Chang resigned as a director following the exercise of this put option as he was the nominated director to the Board by Nordic Group Limited.
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
10/03/2014
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director
Role and responsibilities
Fulfilling duties and responsibilities as a Non-Executive Director.
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
Deemed interest of 60,000,000 ordinary shares
Past (for the last 5 years)
24 June 2003 to 7 June 2013 - Berg Aciapac Automation Pte. Ltd., 28 April 2006 to 7 June 2013 - Avitools International Pte. Ltd., 9 October 2003 to 28 June 2010 - Jackspeed Corporation Limited, 17 April 2014 to 27 June 2014 - PSL Energy Resources Pte. Ltd., Geo Dynamics Pte. Ltd., TSL Transport & Engineering Pte. Ltd. & Resource Hardware & Trading Pte. Ltd.
Present
8 April 2010 to present - Nordic Group Limited, 24 June 2003 to present - Nordic Flow Control Pte. Ltd., 1 July 2011 to present - Multiheight Scaffolding Pte. Ltd. & Multiheight Marine Pte. Ltd., 18 April 2013 to present - Nordic Service Centre Pte. Ltd., 24 June 2003 to present - Nordium Corporation Pte. Ltd., 26 July 2004 to present - Avitools (S) Pte. Ltd., 22 January 2010 to present - Nordium Investment Pte. Ltd., 28 June 2005 to present - Union Steel Holdings Limited, 14 February 2013 to present - MCHM Capital Pte. Ltd. & YSM Capital Pte. Ltd.