Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
SHOPPER360 LIMITED
Securities
SHOPPER360 LIMITED - SG1DH4000001 - 1F0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
09-Sep-2024 07:34:35
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG240909OTHRUMKQ
Submitted By (Co./ Ind. Name)
Chew Sue Ann
Designation
Executive Chairman and Group Managing Director
Description (Please provide a detailed description of the event in the box below)
Retirement of Ms. Margaret Au-Yong as Independent Director

This announcement has been prepared by shopper360 Limited (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 ("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. Leong Huey Miin, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone: +65 6636 4201.

Additional Details

Name Of Person
Margaret Au-Yong @ Moh Chuan
Age
75
Is effective date of cessation known?
Yes
If yes, please provide the date
26/09/2024
Detailed Reason (s) for cessation
Ms. Margaret Au-Yong ("Ms. Au-Yong"), who is retiring pursuant to Regulation 112 of the Constitution of the Company, will not be seeking re-election as a Director of the Company at the Company's forthcoming Annual General Meeting ("AGM") to be held on 26 September 2024 to focus on other work and family commitments. Accordingly, Ms. Au-Yong will retire from her role as Independent Director of the Company and relinquish her position as Chairman of the Remuneration Committee and member of the Audit Committee upon the conclusion of the AGM.

In light of Ms Au-Yong's retirement, the Company is looking to identify appropriate candidates to be appointed to fill the vacancy within two (2) months and in any case no later than three (3) months, to ensure compliance with the Companies Act 1967 of Singapore, the Catalist Rules and the Code of Corporate Governance (last amended on 11 January 2023). The Company will release an announcement on the updated Board and the respective Committee's composition when they have been finalised.

After having interviewed Ms. Au-Yong and to the best of its knowledge, the Sponsor is satisfied that save as disclosed in this announcement, there are no other material reasons for the retirement of Ms. Au-Yong as 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
19/05/2017
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Remuneration Committee and member of the Audit Committee
Role and responsibilities
Assumed the roles and responsibilities of the Independent Director, Chairman of the Remuneration Committee and member of the Audit Committee
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)
- Kolej IACT Sdn. Bhd.
Present
- 1Malaysia Racing Team Sdn. Bhd.
- Macomm Management Services Sdn. Bhd.