Change - Announcement of Cessation::CESSATION OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
GS HOLDINGS LIMITED
Securities
GS HOLDINGS LIMITED - SG1CF0000001 - 43A
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Apr-2019 19:39:56
Status
New
Announcement Sub Title
CESSATION OF INDEPENDENT DIRECTOR
Announcement Reference
SG190430OTHRX8VR
Submitted By (Co./ Ind. Name)
PANG POK
Designation
EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by GS Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (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 Lan Kang Ming, Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.

Additional Details

Name Of Person
CHOW KEK TONG
Age
64
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2019
Detailed Reason (s) for cessation
To spend more time on other business ventures and other personal commitment.

The Company's sponsor, UOB Kay Hian Private Limited, after having interviewed Mr Chow Kek Tong ("Mr Chow"), is not aware of any other material reasons for the cessation of Mr Chow 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?
Yes
If Yes, Please provide full details
The Company will be appointing an Independent Director to replace Mr Chow and will announce on the reconstitution of its board and board committee in due course.
Date of Appointment to current position
17/12/2015
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.)
Chairman of Remuneration Committee and members of the Nominating Committee and Audit and Risk Committee.
Role and responsibilities
Mr Chow served as an Independent Director of the Company. His role is to exercise Independence, objective judgement on business affairs of the Company. Together with other independent director, they act as a check and balance on the Company's management.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
42,000 shares in GS Holdings Limited
Past (for the last 5 years)
Nil
Present
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