Change - Announcement of Cessation::Cessation of Financial Controller

Issuer & Securities

Issuer/ Manager
TERRATECH GROUP LIMITED
Securities
TERRATECH GROUP LIMITED - KYG8763X1007 - 40I
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Feb-2016 19:15:34
Status
New
Announcement Sub Title
Cessation of Financial Controller
Announcement Reference
SG160215OTHRV58X
Submitted By (Co./ Ind. Name)
Dr Loh Chang Kaan
Designation
Executive Director cum Chief Executive Officer
Effective Date and Time of the event
15/02/2016 18:00:00
Description (Please provide a detailed description of the event in the box below)
Terratech Group Limited (the "Company") was listed on the Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 30 July 2014. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor").

This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with the SGX-ST Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Thomas Lam, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 62298088.

Additional Details

Name Of Person
Kevin Ng Lai Hock
Age
37
Is effective date of cessation known?
Yes
If yes, please provide the date
15/02/2016
Detailed Reason (s) for cessation
To pursue other career opportunities.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Kevin Ng as the Group Financial Controller ("FC") of the Company. In addition, there are no concerns with regards to financial reporting that led to the departure of the FC and there are no disagreements between the FC and the Board of Directors of the Company with regards to practices that will have an impact on the Company's financial reporting.
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
01/07/2015
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Financial Controller
Role and responsibilities
Executive position. Responsible for accounting, finance, compliance and the reporting requirement of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Nil
Present
Nil