Change - Announcement of Cessation::Cessation of Executive Director
Issuer & Securities
COSMOSTEEL HOLDINGS LIMITED
COSMOSTEEL HOLDINGS LIMITED - SG1V08936188 - B9S
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Executive Director
Submitted By (Co./ Ind. Name)
Ong Tong Hai
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement of Cessation of Executive Director
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Osamu Murai, who was nominated for appointment as Executive Director by Hanwa Co., Ltd. ("Hanwa") pursuant to Clause 3 of the Strategic Alliance Agreement between the Company and Hanwa dated 1 December 2014, is resigning by mutual agreement between the Company and Hanwa.
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
As Executive Director, Mr Murai is the primary communications facilitator between the Group and Hanwa and leads the expansion of the Company's international sales network and its Japanese customer base in Singapore through collaboration with Hanwa's global network. He also assists and advises the Chief Executive Officer of the Company in the development of the Company's procurement and sales functions.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Osamu Murai was nominated for appointment as an Executive Director of the Company by Hanwa pursuant to the terms of the Strategic Alliance Agreement dated 1 December 2014 entered into between Hanwa and the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)