Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
NICO STEEL HOLDINGS LIMITED
Securities
NICO STEEL HOLDINGS LIMITED - SG1R29924672 - 5GF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-May-2016 19:48:31
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG160520OTHRPIQG
Submitted By (Co./ Ind. Name)
Tan Chee Khiong
Designation
Chairman and President
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Director

Additional Details

Name Of Person
Fong Pin Jan Daniel
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
20/05/2016
Detailed Reason (s) for cessation
The resignation was due to the expiry of the service agreement entered into between Mr Daniel Fong and the Company (the "Service Agreement"), for a term of one (1) year commencing on 21 May 2015.
Mr Daniel Fong has expressed his intention to resign as director. The Nominating Committee (the "NC") has reviewed the matter and has agreed that the resignation be accepted and due recommendation had been submitted to the Board for approval, had been approved by the Board.
With Mr Daniel Fong's departure, both the NC and Board felt that the core competence of the Board is still in place.
At the relevant time as instructed by the Board, the NC shall act accordingly to source for new candidate to fill the vacancy left vacant by Mr Daniel Fong, if necessary.
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
21/05/2015
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Role and responsibilities
Fulfilling the responsibility of an Executive Director.
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?
No
Past (for the last 5 years)
Daqing Dairy Limited
Global Milk Products Pte. Ltd.
Sino Construction Limited
The Art Fellas Pte. Ltd.
Art Discovered Pte. Ltd.
The Art Fellas Gallery Pte. Ltd.
Present
True Corporate Advisors Pte. Ltd.
Dapai International Holdings Co Ltd.