Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
COSMOSTEEL HOLDINGS LIMITED
Securities
COSMOSTEEL HOLDINGS LIMITED - SG1V08936188 - B9S
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Mar-2019 23:29:36
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG190331OTHR2UF4
Submitted By (Co./ Ind. Name)
Ong Chin Sum
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Executive Director.

Additional Details

Name Of Person
Ong Tong Yang
Age
43
Is effective date of cessation known?
Yes
If yes, please provide the date
31/03/2019
Detailed Reason (s) for cessation
Mr Ong Tong Yang has informed that he is unable to continue to perform his duties as Executive Director due to health reasons and hence the Company and Mr Ong Tong Yang have mutually agreed to terminate the service agreement entered into between them with effect from 31 March 2019 so that Mr Ong Tong Yang ceases to be employed as Executive Director with effect from such date.
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
09/11/2005
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
Role and responsibilities
Developing and setting the strategic directions for the sales, marketing and purchasing functions.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Ong Tong Yang is the brother of Mr Ong Tong Hai, and the son of Mr Ong Chin Sum, who are both Executive Directors of the Company and Kim Seng Huat Hardware Pte. Ltd., the Company's principal subsidiary.

Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
19,954,396 shares
Past (for the last 5 years)
Kim Seng Huat Hardware Pte. Ltd.
Present
None