Change - Announcement of Cessation::RESIGNATION OF CEO & EXECUTIVE DIRECTOR, RE-DESIGNATION TO NON EXECUTIVE NON INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
SPACKMAN ENTERTAINMENT GROUP LIMITED
Securities
SPACKMAN ENTERTAINMENT GRP LTD - SG1AB0000004 - 40E
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
12-Feb-2025 17:38:07
Status
New
Announcement Sub Title
RESIGNATION OF CEO & EXECUTIVE DIRECTOR, RE-DESIGNATION TO NON EXECUTIVE NON INDEPENDENT DIRECTOR
Announcement Reference
SG250212OTHR8JAR
Submitted By (Co./ Ind. Name)
Noraini Latiff
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Chief Executive Officer who is also an Executive Director and Joint Company Secretary of the Company, and Re-designation to Non Executive Non Independent Director.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Evolve Capital Advisory Private Limited ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST").

This announcement has not been examined 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 details of the contact person for the Sponsor are:-
Name: Mr Jerry Chua (Registered Professional, Evolve Capital Advisory Private Limited)
Address: 160 Robinson Road, SBF Center, #20-01/02, Singapore 068914
Tel: (65) 6241 6626

Additional Details

Name Of Person
NA KYOUNGWON
Age
50
Is effective date of cessation known?
Yes
If yes, please provide the date
12/02/2025
Detailed Reason (s) for cessation
Mr Na Kyoungwon ("Mr Kay") has informed the Board of Directors (the "Board") that he is resigning as Chief Executive Officer ("CEO"), Executive Director and Joint Company Secretary of the Company to focus on pursuing other corporate endeavours. He will also step down as a Member of Nominating Committee of the Company. The Board has accepted Mr Kay's resignation, effective 12 February 2025, with no notice period required.

Immediately upon the aforementioned resignation, Mr Kay will be re-designated as a Non Executive Non Independent Director of the Company. He will also be appointed as a member of the Audit and Risk Management Committee and the Remuneration Committee of the Company.

After having interviewed with Mr Kay, 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:- (i) the cessation of Mr Kay as CEO, Executive Director and Joint Company Secretary of the Company, and (ii) the re-designation of Mr Kay as Non Executive Non Independent Director of the Company immediately upon his cessation as CEO, Executive Director and Joint Company Secretary.
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
01/06/2023
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
CEO, Executive Director, NC Member, and Joint Company Secretary.
Role and responsibilities
Executive responsibilities of Chief Executive Officer, Executive Director and Joint Company Secretary.

Immediately upon Mr Kay's cessation of the above, he will be re-designated as Non Executive Non Independent Director of the Company, and a member of the Audit and Risk Management Committee and Remuneration Committee of the Company, and undertake non executive responsibilities in his new role.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest - 1,026,800 ordinary shares in the Company
Past (for the last 5 years)
Nil
Present
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