Change - Announcement of Cessation::Retirement of Independent Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
THAKRAL CORPORATION LTD
Securities
THAKRAL CORPORATION LTD - SG1AJ2000005 - AWI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
10-Apr-2024 18:13:27
Status
New
Announcement Sub Title
Retirement of Independent Non-Executive Chairman
Announcement Reference
SG240410OTHRWED2
Submitted By (Co./ Ind. Name)
Anil Daryanani
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Natarajan Subramaniam as the Independent Non-Executive Chairman of Thakral Corporation Ltd (the "Company", and together with its subsidiaries, the "Group") and cessation as the Lead Independent Director and the Chairman of the Audit Committee, Compensation Committee, Nomination Committee and Investment Committee of the Company.

Additional Details

Name Of Person
Natarajan Subramaniam
Age
85
Is effective date of cessation known?
Yes
If yes, please provide the date
26/04/2024
Detailed Reason (s) for cessation
As part of the Board renewal process and pursuant to mandatory maximum 9-year tenure for independent directors under listing rule requirement, Mr. Natarajan Subramaniam will be retiring by rotation pursuant to Regulation 107(2) of the Company's Constitution at the conclusion of the Company's Annual General Meeting to be held on 26 April 2024. Mr. Subramaniam will also cease to be the Lead Independent Director and the Chairman of the Audit, Compensation, Nomination and Investment Committees of the Company.

Following his retirement from the Board, Mr. Subramaniam will be appointed as an Advisor of the Group and the Investment Committee of the Company till end of 2024 to provide a smooth transition for the newly appointed Board members.
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
15/11/1995
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Chairman
Lead Independent Director
Chairman of Audit, Compensation, Nomination and Investment Committees
Role and responsibilities
Non-Executive as above
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
N.A.
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
AWWA Ltd
Present
1. Thakral Capital Holdings Pte. Ltd.
2. SJ Property Investments Pte. Ltd.
3. Nihon Property Investments Pte. Ltd.