Change - Announcement of Cessation::Retirement of Independent Non-Executive Director and Chairman of the Board

Issuer & Securities

Issuer/ Manager
GSS ENERGY LIMITED
Securities
GSS ENERGY LIMITED - SG1AG6000007 - 41F
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Apr-2024 00:13:16
Status
New
Announcement Sub Title
Retirement of Independent Non-Executive Director and Chairman of the Board
Announcement Reference
SG240415OTHREAIW
Submitted By (Co./ Ind. Name)
Kiar Lee Noi
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of cessation of Independent Non-Executive Director and Chairman of the Board at the Annual General Meeting.

This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (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 Mr Bernard Lui, Telephone number: 6389 3000 Email: Bernard.lui@morganlewis.com

Additional Details

Name Of Person
Kuek Eng Chye, Anthony
Age
76
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2024
Detailed Reason (s) for cessation
Mr Kuek Eng Chye, Anthony ("Mr Anthony) has served the Board since his appointment to the Board of the Company in November 2014. Catalist Rule 403(6)(d)(iv) states that a director will not be independent if he has been a director of the issuer for an aggregate period of more than nine years (whether before or after listing) and such director may continue to be considered independent until the conclusion of the next annual general meeting of the issuer. Pursuant thereto, Mr. Anthony will retire as an Independent Non-Executive Director and Chairman of the Board (and step down from the Board) after the conclusion of the annual general meeting of the Company to be held on 30 April 2024.

Following the retirement of Kuek Eng Chye, Anthony as a Director of the Company and relinquishment of his position as a Non-Executive Chairman of the Board at the upcoming AGM, the Nominating Committee and the Board are, as at the Latest Practicable Date, in the process of reviewing its composition and the memberships of the relevant Board and Board Committees, including appointing a potential candidate as a replacement for Kuek Eng Chye, Anthony and will endeavour to do so within two (2) months from the date of retirement of Kuek Eng Chye, Anthony, but in any case not later than three (3) months.
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
28/07/2023
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)
1
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.)
Independent Non-Executive Director, Chairman of the Board, Chairman of Remuneration Committee and Nominating Committee, Member of Audit Committee.
Role and responsibilities
Duties as an Independent Non-Executive Director, Chairman of the Board, Chairman of Remuneration Committee and Nominating Committee, and Member of Audit Committee on which Mr Anthony has served.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
2020 - 2020: Non-Executive Director of Magnus Energy Group Ltd.
Present
Nil