Change - Announcement of Cessation::Cessation of Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
CCM GROUP LIMITED
Securities
CCM GROUP LIMITED - SG2B84959255 - 5QZ

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-May-2014 20:58:57
Status
New
Announcement Sub Title
Cessation of Non-Executive Chairman
Announcement Reference
SG140507OTHRECUF
Submitted By (Co./ Ind. Name)
Chan Heng Fai
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

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 Mark Liew, Managing Director, Corporate Finance, at 20 Cecil Street, #21-02 Equity Plaza, Singapore 049705, telephone (65) 6229-8088.

Additional Details

Name Of Person
Liew Sen Keong
Age
43
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2014
Detailed Reason (s) for cessation
Mr Liew Sen Keong had ceased to be a director as a result of the Company's annual general meeting held on 28 April 2014.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Mr Liew Sen Keong as the Non-Executive Chairman 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?
Yes
If Yes, Please provide full details
There have been some differences in management styles in the Company which has no material impact on the Group.

Mr Basil Chan, an Independent Director and the chairman of the Audit Committee, has been appointed as the Independent and Non-Executive Chairman of the Board with immediate effect.
Date of Appointment to current position
09/09/2009
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
11
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Chairman of the Group
Role and responsibilities
Duties as a Non-Executive Chairman of the Group
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?
Yes
Shareholding Details
Mr Liew Sen Keong is directly interested in 42,900,000 issued voting shares in the Company ("Shares") and an aggregate of 214,512,200 warrants and employee share options in the Company. Mr Liew Sen Keong is also indirectly interested in 5,900,000 Shares and an aggregate of 60,712,200 warrants and employee share options in the Company held by his spouse.
Other Directorships
Past (for the last 5 years)
Nil
Present
CCM Manufacturing Pte Ltd; CCM Development Pte Ltd; CCM Property Pte. Ltd.; CCM Industrial Pte Ltd; and JRitz Enterprise Pte Ltd