Change - Announcement of Cessation::Cessation of Independent Director
Issuer & Securities
KITCHEN CULTURE HOLDINGS LTD.
KITCHEN CULTURE HOLDINGS LTD. - SG2D45972171 - 5TI
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Independent Director
Submitted By (Co./ Ind. Name)
Lim Wee Li
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Independent Director.
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved b y the Singapore Exchange Securities Trading Limited (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. Lee Khai Yinn (Tel (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Kesavan Nair ("Mr Nair") will retire by rotation pursuant to Regulation 107 of the Company's Constitution at the forthcoming annual general meeting of the Company to be held on 29 October 2020 ("AGM"). Mr Nair will not be seeking re-election at the AGM in order to facilitate Board renewal. His retirement from the Board will take effect upon the conclusion of the AGM. Accordingly, Mr Nair will cease to be the Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee upon his retirement from the Board.
SAC Capital Private Limited, after having interviewed Mr Nair, is satisfied that other than as disclosed in this announcement, there are no other reasons for the cessation of Mr Nair.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Nominating Committee, and member of the Audit Committee and Remuneration Committee of the Company.
Role and responsibilities
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
1. Genesis Law Corporation
2. Genvest Pte Ltd
1. Arion Entertainment Singapore Limited
2. Artivision Technologies Ltd.
3. HG Metal Manufacturing Limited
4. IEV Holdings Limited
5. Bayfront Law LLC