Change - Announcement of Cessation::RETIREMENT OF INDEPENDENT DIRECTOR AND CHAIRMAN OF THE BOARD

Issuer & Securities

Issuer/ Manager
NEW WAVE HOLDINGS LTD.
Securities
NEW WAVE HOLDINGS LTD. - SG1Q78923675 - 5FX
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Jul-2024 21:11:38
Status
New
Announcement Sub Title
RETIREMENT OF INDEPENDENT DIRECTOR AND CHAIRMAN OF THE BOARD
Announcement Reference
SG240726OTHRGGCQ
Submitted By (Co./ Ind. Name)
Ong Kian Soon
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement relates to the retirement of Mr Tito Shane Isaac, Independent Non-executive Director and Chairman of the Board.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Ng Shi Qing, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
TITO SHANE ISAAC
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
29/07/2024
Detailed Reason (s) for cessation
As part of the Board rejuvenation process and to comply with Rule 406(3)(d)(iv) of the SGX-ST Listing Manual Section B: Rules of Catalist, Mr Tito Shane Isaac ("Mr Isaac"), who has served on the Board for more than nine years, will not be seeking re-election at the Company's Annual General Meeting and will retire as Independent Director at the conclusion of the Annual General Meeting. Accordingly, Mr Isaac will relinquish his position as the Chairman of the Board, Chairman of the Audit Committee and Remuneration Committee and member of the Nominating Committee.

The Company wishes to express its gratitude and appreciation to Mr Isaac for his invaluable contributions during his tenure as Independent Director and Chairman of the Board.

Based on its enquiries, and to the best of its knowledge, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr. Tito Shane Issac as the Independent Director 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?
No
Date of Appointment to current position
30/08/2006
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-executive Chairman of the Board, Chairman of the Audit Committee and the Remuneration Committee, Member of the Nominating Committee
Role and responsibilities
Independent Non-executive Chairman of the Board, Chairman of the Audit Committee, Chairman of the Remuneration Committee, Member of the Nominating Committee
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)
Shanaya Limited
Present
Hiap Tong Corporation Ltd.