Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
ELEKTROMOTIVE GROUP LIMITED
Securities
ELEKTROMOTIVE GROUP LIMITED - SG2F80993502 - 5VU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-May-2015 17:58:49
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG150503OTHR4XCY
Submitted By (Co./ Ind. Name)
RICKY ANG GEE HING
Designation
EXECUTIVE VICE-CHAIRMAN AND MANAGING DIRECTOR
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by Elektromotive Group Limited (the "Company") and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (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 Ms Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.

Additional Details

Name Of Person
Tan Choon Wee
Age
49
Is effective date of cessation known?
Yes
If yes, please provide the date
01/05/2015
Detailed Reason (s) for cessation
Mr Tan is of the view that he will not be able to fulfil the duties of an Executive Director of the Company due to his other commitments.

Based on its enquiries, the Company's Sponsor is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Tan as Executive Director and Chairman of Investment Committee of the Company.

In addition, there are no disagreements between Mr Tan and the Company's Board of Directors with regard to practices that will have an impact to 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
05/12/2006
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chairman of Investment Committee
Role and responsibilities
Executive Director and Chairman of Investment Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NA
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Tan directly holds 425,000 ordinary shares and 525,000 warrants and he is deemed to be interested in the 2,125,000 ordinary shares and 2,625,000 warrants held by Lexicon Capital Holdings Limited.
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