Change - Announcement of Cessation::Cessation of Chief Financial Officer

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
02-Sep-2021 12:22:36
Status
New
Announcement Sub Title
Cessation of Chief Financial Officer
Announcement Reference
SG210902OTHRNB2R
Submitted By (Co./ Ind. Name)
Chang Wei Lu
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Financial Officer

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, 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.

Additional Details

Name Of Person
Mah Seong Kung
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2021
Detailed Reason (s) for cessation
Mr. Mah Seong Kung ("Mr. Mah") has decided to resign as Chief Financial Officer of Mercurius Capital Investment Limited (the "Company", and together with its subsidiaries, the "Group") to reduce his current work commitments due to health reasons and to pursue his personal interests.

Mr. Mah has indicated that he intends to remain with the Group as a consultant until the completion of the proposed acquisition of Songmart Holdings Sdn. Bhd.

After having interviewed Mr. Mah and to the best of its knowledge, the Company's sponsor, Novus Corporate Finance Pte. Ltd. is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr. Mah as the Chief Financial Officer of the Company.

In addition, there are no concerns with regards to financial reporting that led to the resignation of Mr. Mah and there are no disagreements between Mr. Mah and the Board of Directors of the Company with regards to practices that would have an impact to the Company's financial reporting.

The Company is in the process of looking for a suitable candidate to head the accounting/finance function of the Group and will make the necessary announcement to update shareholders on the new appointment in due course.
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
25/06/2020
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Responsible for the accounting, financial and compliance function of the Group.
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)
Mercurius Capital Investment Limited
EFH Myoutlets Pte. Ltd.
Asian Oudh Marketing Pte. Ltd.
Mobile Payment Gateway Pte. Ltd.
Green Innovation Technology Pte. Ltd.
Present
IM Quarries Limited
K2 F&B Holdings Limited
Sum Cheong Global Pte. Ltd.