Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
SOILBUILD CONSTRUCTION GROUP LTD.
Securities
SOILBUILD CONSTRUCTION GRP LTD - SG2F78993043 - S7P
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Apr-2024 18:50:17
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG240426OTHRNZL0
Submitted By (Co./ Ind. Name)
LIM HAN REN
Designation
EXECUTIVE DIRECTOR
Description (Please provide a detailed description of the event in the box below)
Cessation of M. Teo Chee Seng as Independent Director of Soilbuild Construction Group Ltd.

Additional Details

Name Of Person
Teo Chee Seng
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
26/04/2024
Detailed Reason (s) for cessation
Mr Teo was appointed as Independent Director of Soilbuild Construction Group Ltd. on 8 May 2013 and has served on the Board for a continuous period of more than nine years. In compliance with the amended Rule 201(5)(d)(iv) of the SGX Listing Rules, which imposed a hard tenure limit for independent director of nine years, beyond which such directors such no longer be considered independent directors, Mr Teo will retire as Independent Director on 26 April 2024.
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
08/05/2013
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Member of the Audit Committee, Nominating Committee and Remuneration Committee
Role and responsibilities
Assumed the roles and responsibilities of member of the Audit Committee, Nominating Committee and Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
937,500 ordinary shares
Past (for the last 5 years)
Lasseters International Holdings Limited
Lasseters International Pte. Ltd.
Present
Soilbuild Construction Group Ltd.
Envictus International Holdings Limited
Envictus Brands Pte. Ltd.
Kong Chong Soon Charity Limited
Allswell Enterprise Pte. Ltd.
Cantonment Link Warehouse Pte. Ltd.
United Overseas Australia Limited