Change - Announcement of Cessation::CESSATION OF CHIEF FINANCIAL OFFICER
Issuer & Securities
VIKING OFFSHORE AND MARINE LIMITED
VIKING OFFSHORE & MARINE LTD - SGXE45420721 - 1Y1
VIKING OFFSHORE & MA W220701 - SGXN37575515 - KZHW
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION OF CHIEF FINANCIAL OFFICER
Submitted By (Co./ Ind. Name)
Datuk Low Kim Leng
Chairman and Independent Non-Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Law Ren Kai Kenneth as Chief Financial Officer of the Company.
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance 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 Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.
Name Of Person
Law Ren Kai Kenneth ("Mr Law")
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Law tendered his resignation as the Chief Financial Officer of the Company ("CFO") on 17 May 2022 ("Resignation") to pursue other career opportunities in view that the Company is diversifying into new businesses, which requires the head of finance of the Company to spend a considerable amount of time overseas.
The board of directors of the Company ("Board"), having considered that the Company has identified and appointed a new head of finance for the Group, had on mutual agreement with Mr Law, agreed that his last day of employment with the Company will be 31 May 2022. To facilitate a smooth transition, Mr Law has agreed to take up the role of an advisor to the Company up to 30 September 2022 to advise on the financial matters of the Company, particularly on the existing businesses.
After having interviewed Mr Law and to the best of its knowledge, the Company's Sponsor, ZICO Capital Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the Resignation.
In addition, there are no concerns that the Resignation is due to any financial reporting concerns or matters and there are no disagreements between Mr Law and the Board with regards to practices that would have an impact on the Company's and Group's financial reporting.
The Company has appointed a new head of finance for the Group and the announcement will be released by the Company separately. Please refer to the aforesaid announcement for more information on the said appointment.
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.)
Role and responsibilities
Responsible for all financial and accounting related matters of the Group
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?
Past (for the last 5 years)
Viking Facilities Management & Operations Pte. Ltd.
Promoter Hydraulics Pte. Ltd.
Marshal Systems Private Limited
Viking Offshore Malaysia Sdn. Bhd.
PT Viking Offshore
Tembusu Growth Fund Hongkong Limited
Marshal Offshore & Marine Engineering Co., Ltd.