Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
KOYO INTERNATIONAL LIMITED
Securities
KOYO INTERNATIONAL LIMITED - SG1X69942156 - 5OC
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Apr-2024 19:46:19
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG240425OTHR3ZPQ
Submitted By (Co./ Ind. Name)
Sharon Lim
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor.

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("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 Charmian Lim (Tel: (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542

Additional Details

Name Of Person
Yeo Guat Kwang
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
25/04/2024
Detailed Reason (s) for cessation
After serving on the Board since 2009, Mr. Yeo Guat Kwang will not be seeking re-election pursuant to Regulation 100 of the Company's Constitution and will be retiring at the conclusion of the Company's Annual General Meeting ("AGM") to be held on 25 April 2024. Mr. Yeo Guat Kwang is stepping down to pave the way for board renewal.

Upon his retirement, Mr. Yeo Guat Kwang will cease as the Chairman of the Nominating Committee, a member of the Audit Committee and Remuneration Committee. The Company will continue its search for a new independent director within 2 months, but in any case no later than 3 months from the date of the AGM.

After having interviewed Mr. Yeo Guat Kwang and to the best of its knowledge, the Company's Sponsor is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Yeo Guat Kwang.
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
15/07/2009
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, Chairman of the Nominating Committee and member of the Audit Committee and Remuneration Committee
Role and responsibilities
Independent Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Not Applicable
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
790,000 Shares
Past (for the last 5 years)
Nil
Present
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