Change - Announcement of Cessation::Resignation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
SPACKMAN ENTERTAINMENT GROUP LIMITED
Securities
SPACKMAN ENTERTAINMENT GRP LTD - SG1AB0000004 - 40E
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Dec-2024 06:27:50
Status
New
Announcement Sub Title
Resignation of Lead Independent Director
Announcement Reference
SG241226OTHRLQSC
Submitted By (Co./ Ind. Name)
Noraini Latiff
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Lead Independent Director.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Evolve Capital Advisory Private Limited ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST").

This announcement has not been examined 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 details of the contact person for the Sponsor are:-
Name: Mr Jerry Chua (Registered Professional, Evolve Capital Advisory Private Limited)
Address: 160 Robinson Road, SBF Center, #20-01/02, Singapore 068914
Tel: (65) 6241 6626

Additional Details

Name Of Person
Lee Doo Hee
Age
40
Is effective date of cessation known?
Yes
If yes, please provide the date
31/12/2024
Detailed Reason (s) for cessation
Mr Lee Doo Hee ("Mr Lee") has informed the Board of Directors (the "Board") that he is resigning as Lead Independent Director of the Company to focus on pursuing other corporate endeavours. The Board has accepted Mr Lee's resignation, effective 31 December 2024, with no notice period required.

After having interviewed with Mr Lee, and to the best of its knowledge, the Company's Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Lee as Lead Independent Director of the Company.

The cessation of Mr Lee as a Lead Independent Director will result in the Audit Committee comprising fewer than three members. The Company is cognisant of its obligations under Rule 704(7) of the Singapore Exchange Securities Trading Limited Listing Manual Section B: Rules of Catalist ("Catalist Rules") and will endeavour to address this vacancy within two months, and in any event, no later than three months.

The Board and the Nominating Committee are actively reviewing the Board's composition and identifying a suitable candidate to serve as an Independent Director and member of the relevant Board Committees. This is to ensure continued compliance with the Code of Corporate Governance 2018 as well as the applicable provisions of the Catalist Rules.
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
01/09/2022
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
0
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.)
Lead Independent Director, Chairman of Audit and Risk Management Committee and Nominating Committee, Member of Remuneration Committee.
Role and responsibilities
Non-Executive, Lead Independent Director
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
Past (for the last 5 years)
1. Third Culture Content Inc.
2. Mini Bird IT Pte. Ltd.
Present
1. Widus Partners Pte. Ltd.
2. Widus Strategic Investments Pte. Ltd.
3. BEF GP Pte. Ltd.