Change - Announcement of Cessation::Retirement of Executive Director - Dr Karl Lidgren

Issuer & Securities

Issuer/ Manager
REX INTERNATIONAL HOLDING LIMITED
Securities
REX INTERNATIONAL HOLDING LTD - SG2G04994999 - 5WH
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Mar-2024 07:08:58
Status
New
Announcement Sub Title
Retirement of Executive Director - Dr Karl Lidgren
Announcement Reference
SG240327OTHRHVJE
Submitted By (Co./ Ind. Name)
John d'Abo
Designation
Executive Vice Chairman
Description (Please provide a detailed description of the event in the box below)
Retirement of Dr Karl Lidgren ("Dr Karl") as Executive Director

Additional Details

Name Of Person
Karl Helge Tore Lidgren
Age
76
Is effective date of cessation known?
Yes
If yes, please provide the date
25/04/2024
Detailed Reason (s) for cessation
As part of the board renewal process, Dr Karl has indicated to the Board of Directors that he will not be seeking for re-election at the forthcoming annual general meeting to be held on 25 April 2024 ("AGM"). Dr Karl will accordingly retire as an Executive Director of the Company upon conclusion of the AGM. Concurrently, he will also cease as a member of Nominating Committee of the Company on 25 April 2024.
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
01/05/2013
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)
4
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and member of Nominating Committee
Role and responsibilities
Roles and responsibilities as Executive Director provide strategic counsel and support to the Company so as to enable the Company to achieve its vision, as well as its short and long-term goals and as member of Nominating Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Dr Karl is the uncle of Dr Mathias Lidgren (Non-Independent Non-Executive Director), brother of Hans Lidgren (substantial shareholder of the Company) and brother of Dr Lars Lidgren (Chairman of Moroxite T AB, a subsidiary of the Company)
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Dr Karl owns 100% of Cresta Group Ltd. and is deemed interested in 14,241,464 shares held by Cresta Group Ltd. and 452,020,422 shares held by Limea Ltd. (50% owned by Cresta Group Ltd.).
Other Directorships
Past (for the last 5 years)

Directorships and Other Principal Commitments
- Rex Middle East Ltd
- Trace Atlantic Oil Ltd
- Lime Petroleum Plc
Present
Directorships and Other Principal Commitments
- Rex International Investments Pte. Ltd.
- Lime Petroleum Ltd
- Rex International Holdings Ltd (BVI)
- Cresta Group Ltd
- Limea Ltd
- Monarch Marine Holding Ltd
- Orango Oil Ltd