Change - Announcement of Cessation::Resignation of Non-Executive Independent Director

Issuer & Securities

Issuer/ Manager
POWERMATIC DATA SYSTEMS LIMITED
Securities
POWERMATIC DATA SYSTEMS LTD - SG1BF0000003 - BCY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Jul-2024 07:57:48
Status
New
Announcement Sub Title
Resignation of Non-Executive Independent Director
Announcement Reference
SG240705OTHRXSTL
Submitted By (Co./ Ind. Name)
Dr Chen Mun
Designation
Chairman
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Executive Independent Director at the conclusion of Thirty-Fifth Annual General Meeting to be held on 25 July 2024

Additional Details

Name Of Person
Lye Kin Mun
Age
73
Is effective date of cessation known?
Yes
If yes, please provide the date
25/07/2024
Detailed Reason (s) for cessation
Dr Lye Kin Mun ("Dr Lye") has served as Independent Non-Executive Director of the Company beyond nine years from the date of his first appointment. In compliance with the amended Listing Rule 210(5)(d)(iv), which imposed a hard tenure limit for independent directors of nine years, beyond which such directors will no longer be considered independent.

Dr Lye will be stepping down as Non-Executive Independent Director of the Company after the conclusion of the Company's Thirty-Fifth Annual General Meeting. Dr Lye will relinquish as Chairman of the Nominating Committee and a Member of the Audit and Risk Management Committee and Remuneration Committee.
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
01/02/1993
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.)
Non-Executive Independent Director, Chairman of Nominating Committee and a Member of Audit and Risk Management Committee and Remuneration Committee.
Role and responsibilities
Duties as Non-Executive Independent Director, Chairman of the Nominating Committee and a Member of Audit and Risk Management Committee and Remuneration Committee on which he has served.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
Principal Commitments:
May 2012 to April 2020 - Chief Risk Officer, Agency for Science, Technology and Research (A*STAR)

July 2019 to April 2023 - Executive Director, Institute for Infocomm Research, Agency for Science, Technology and Research (A*STAR)
Present
Directorships: None.

Principal Commitments:
April 2023 to Present:- Senior Advisor, Science and Engineering Council and Institute for Infocomm Research, Agency for Science, Technology and Research (A*STAR)