Change - Announcement of Cessation::Cessation of Executive Director, Business Development
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 Executive Director, Business Development
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 Executive Director, Business Development.
This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by 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
Loy Soo Toon
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To pursue other personal interests.
SAC Capital Private Limited, after having interviewed Mr Loy Soo Toon ("Mr Loy"), is satisfied that other than as disclosed in this announcement, there are no other reasons for the resignation of Mr Loy.
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?
If Yes, Please provide full details
Mr Lim Wee Li, the Executive Chairman and Chief Executive Officer of the Company, will, together with other members of the senior management team, undertake Mr Loy's functions and role so that the operations and businesses of the Group will continue smoothly and efficiently.
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.)
Executive Director, Business Development
Role and responsibilities
Executive. Mr Loy was responsible for developing new customers and businesses for the Group.
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)
Soezy Pte. Ltd.
KC Medical Supplies Pte. Ltd.
3L Asia Capital Pte. Ltd.
OOWAY Technology Pte. Ltd.
Mr Loy will be stepping down from his directorship in the Group's subsidiaries and associated company.