Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
MEGACHEM LIMITED
Securities
MEGACHEM LIMITED - SG1O60914015 - 5DS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Mar-2024 07:37:24
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG240328OTHRWZRM
Submitted By (Co./ Ind. Name)
Kwok Hwee Peng
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Independent Director - Dr Tay Kin Bee ("Dr Tay")

This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor").

This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange 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 Lim (Tel : (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Tay Kin Bee
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
19/04/2024
Detailed Reason (s) for cessation
Dr Tay Kin Bee ("Dr Tay") will retire from office at the Annual General Meeting of the Company to be held on 19 April 2024. He will relinquish his position as Independent Director, Chairman of the Remuneration Committee, and a member of the Audit Committee.

After having interviewed Dr Tay and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Dr Tay as an Independent Director 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
01/07/2013
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)
3
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 Director, Chairman of the Remuneration Committee, Member of the Audit Committee.
Role and responsibilities
Independent Director, Chairman of the Remuneration Committee as well as a member of the Audit Committee.
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?
No
Past (for the last 5 years)
Listed
- Chemical Industries (Far East) Limited

Non-listed
- SPCI Pte Ltd
- DCM Asia Pte Ltd
Present
Listed
- Megachem Limited

Non-listed
- Riverside Asia Partners Pte Ltd
- Riverside Asia Pacific Fund II Pte Ltd