Change - Announcement of Cessation::Resignation of Chief Executive Officer - Pan Shun Ming

Issuer & Securities

Issuer/ Manager
SOUTHERN PACKAGING GROUP LIMITED
Securities
SOUTHERN PACKAGING GROUP LTD - SG1CG0000009 - BQP
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Jan-2025 19:27:41
Status
New
Announcement Sub Title
Resignation of Chief Executive Officer - Pan Shun Ming
Announcement Reference
SG250113OTHRQ7LU
Submitted By (Co./ Ind. Name)
Kong Wei Fung
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Pan Shun Ming ("Mr Pan") as Chief Executive Officer ("CEO") of the Company

Additional Details

Name Of Person
Pan Shun Ming
Age
68
Is effective date of cessation known?
Yes
If yes, please provide the date
13/01/2025
Detailed Reason (s) for cessation
In line with the Company's succession planning and leadership renewal strategy, Mr Pan has notified the Nominating Committee and the Board of Directors (the "Board") of his decision to relinquish his position as a CEO of the Company, effective from 13 January 2025. Mr Pan will remain as the Executive Chairman of the Company, leading the Board and setting the strategic direction of the Group together with the Board.

The Company has made a separate announcement regarding the appointment of Mr Shi ShaoBin as the new CEO of the Company.
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
30/12/2003
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.)
Mr Pan remains as the Executive Chairman after his resignation as CEO of the Company
Role and responsibilities
As Chairman of the Board, Mr Pan will be responsible for all duties associated with this role, including but not limited to, leading the Board in its oversight of the Company's management, setting the strategic direction of the Group in collaboration with the Board, ensuring effective communication between the Board and management and facilitating the Board's decision-making processes and ensuring that the Board operates effectively and efficiently.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Yes. Mr Pan is the Executive Chairman and substantial shareholder of the Company. He holds directorships in some of the subsidiaries of the Company. He is also spouse of Madam Mai ShuYing (Chief Financial Officer and substantial shareholder of the Company) and father of Mr Pan ZhaoJin (Deputy Chief Executive Officer with effect from 13 January 2025 and substantial shareholder of the Company).
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest: 27,384,697 ordinary shares, representing 38.94% interest in the Company

Deemed interest: 17,925,265 ordinary shares representing 25.49% interest in the Company, held by his spouse, Madam Mai ShuYing
Past (for the last 5 years)
Directorships and Other Principal Commitments
- Foshan Energetic Film Co., Ltd
- Foshan Jia Yu Corporate Advisory Co., Ltd
- NH Assets Pte. Ltd.
- Guangdong Donald Food Co., Ltd
Present
Directorships and Other Principal Commitments
- Southern Packaging (Jiangsu) Co., Ltd
- Foshan Nanxin Packaging Co., Ltd
- Southern (HK) Packaging Co., Ltd
- Foshan Southern Packaging Co., Ltd
- Foshan Jia Xun Real Estate Co., Ltd
- Guangdong Xinghua Health Drinks Co., Ltd
- Energetic Holdings Limited
- Striving Asset Management Co., Ltd
- Foshan Jia Bang Real Estate Co., Ltd
- Thrive United Holdings Ltd
- Cappella Holding Pte. Ltd
- Nanhai 4 Pte. Ltd
- Shan Shine Asset Management Co., Ltd
- Stable Growth Investment Co., Ltd
- Foshan Shan Shine Corporate Advisory Co., Ltd
- Foshan Ying Feng Real Estate Co, Ltd