Change - Announcement of Cessation::Relinquish as Executive Chairman and Managing Director but remains as Executive Director

Issuer & Securities

Issuer/ Manager
OEL (HOLDINGS) LIMITED - SG0584008601 - 584
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Feb-2016 21:05:00
Announcement Sub Title
Relinquish as Executive Chairman and Managing Director but remains as Executive Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Chang Ai Ling
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined 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 details of the contact person for the Sponsor are:-

Name : Mr Tan Chong Huat (Registered Professional, RHT Capital Pte. Ltd.)
Address : Six Battery Road, #10-01, Singapore 049909
Tel : (65) 6381 6757

Additional Details

Name Of Person
Low Beng Tin
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To pave way for new leadership of the Company.

Following the re-designation of Mr Jeffrey Hing Yih Peir as the Executive Chairman and Managing Director of the Company, Mr Low Beng Tin will relinquish his role as the Executive Chairman and Managing Director of the Company. He continues to be the Executive 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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Managing Director
Role and responsibilities
Executive. Duties as Executive Chairman and Managing Director of the Company.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Shareholding Details
Direct Interest: 4,769,754 shares
Deemed Interest: 28,000,000 shares registered in the name of a nominee, Bank of Singapore Nominees Pte Ltd
Past (for the last 5 years)
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OSEC Shipyard Pte. Ltd.
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