Change - Announcement of Cessation::Cessation of Chief Executive Officer and re-designation as Executive Chairman

Issuer & Securities

Issuer/ Manager
MERCURIUS CAP INVESTMENT LTD
Securities
MERCURIUS CAP INVESTMENT LTD - SG2B96959558 - 5RF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Oct-2022 20:47:41
Status
New
Announcement Sub Title
Cessation of Chief Executive Officer and re-designation as Executive Chairman
Announcement Reference
SG221025OTHR9V72
Submitted By (Co./ Ind. Name)
Chang Wei Lu
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Executive Officer and re-designation as Executive Chairman

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd.(the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "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 Mr. Pong Chen Yih, Chief Operating Officer, at 7 Temasek Boulevard, #18-03B, Suntec Tower 1,Singapore 038987, telephone (65) 69502188.

Additional Details

Name Of Person
Chang Wei Lu
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
25/10/2022
Detailed Reason (s) for cessation
Mr. Chang Wei Lu ("Mr. Chang") is presently the Executive Chairman and Chief Executive Officer of the Company. Following the re-designation of Mr. Chew Hai Chiene Hester Arthur from Lead Independent Non-Executive Director to Group Chief Executive Officer and Executive Director of the Company, Mr. Chang will step down as Chief Executive Officer, but will remain as the Executive Chairman of the Company.

Mr. Chang will also remain as a member of the Remuneration Committee of the Company.

To the best of its knowledge, the Company's Sponsor, Novus Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Chang as Chief Executive Officer and re-designation of Mr. Chang as Executive Chairman 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
21/02/2017
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)
2
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.)
Chief Executive Officer
Role and responsibilities
Executive. Mr. Chang is responsible for overseeing the overall business development and general management of the Group, and formulating the Group's strategic directions and expansion plans.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
320,538,834 shares
Past (for the last 5 years)
Golden Intervest Sdn Bhd
M.W. Group
Present
Mercurius Capital Investment Limited