Change - Announcement of Cessation::CESSATION OF EXECUTIVE DIRECTOR - LAW KIAN GUAN

Issuer & Securities

Issuer/ Manager
VERSALINK HOLDINGS LIMITED
Securities
VERSALINK HOLDINGS LIMITED - SG1AC9000003 - 40N
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Mar-2022 21:01:49
Status
New
Announcement Sub Title
CESSATION OF EXECUTIVE DIRECTOR - LAW KIAN GUAN
Announcement Reference
SG220307OTHR4TUP
Submitted By (Co./ Ind. Name)
Matthew Law Kian Siong
Designation
Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Director - Law Kian Guan

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by 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. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03, Robinson 77, Singapore 068896, telephone (65) 6636 4201.

Additional Details

Name Of Person
Law Kian Guan
Age
43
Is effective date of cessation known?
Yes
If yes, please provide the date
08/03/2022
Detailed Reason (s) for cessation
This is part of the Board restructuring following the Nominating Committee's and the Board's review and deliberation on the composition and size of the Board taking into consideration the Code of Corporate Governance 2018 as well as the nature and scope of the Group's operations.

Mr Law Kian Guan ("Mr Law") has voluntarily resigned as Executive Director of the Company. He remains with the Group as a director of the Company's subsidiaries (as set out below) and a key executive officer of the Company with no change to his day-to-day responsibilities in his executive role in the Company.

After having interviewed Mr Law and to the best of its knowledge, the Company's sponsor, ZICO Capital Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no material reasons for the cessation of Mr Law as an Executive Director 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
21/04/2014
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive
Role and responsibilities
Mr Law Kian Guan oversees the progress and achievement of special projects including furniture manufacturing processes and other special projects as directed by the management from time to time. He is in charge of the production, project and site management aspects of the Group and the technical aspects of the products. He also enforces the Group's procedures and policies and oversees the production and technical departments.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
- Son of Executive Director (Law Boon Seng) and substantial shareholder of the Company (Lee Yuet Chin)

- Sibling of Executive Director (Law Kian Siong) and substantial shareholders of the Company (Arica Walters and Law Kian Hong)
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
15,464,000 shares in the Company - Direct Interest
Past (for the last 5 years)
NIL
Present
- Jemaramas Jaya Sdn. Bhd.
- Versalink Marketing Sdn. Bhd.
- Versalink System Furniture (S) Pte. Ltd.
- Versalink (S) Pte. Ltd.
- Versalink Technology Sdn. Bhd.