Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
LORENZO INTERNATIONAL LIMITED
Securities
LORENZO INTERNATIONAL LIMITED - SG1T35930281 - 5IE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Dec-2018 12:02:02
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG181231OTHRJNVB
Submitted By (Co./ Ind. Name)
Ong Beng Hong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Upon the cessation of Mr Yeow See Onn as a director of the Company, he will relinquish his position as Independent Director, Chairman of the Audit Committee and Member of each of the Remuneration Committee and Nominating Committee ("NC"). The NC and the Board is in the process of identifying and appointing a new Independent Director. Once an appointment candidate is identified and appointed, the necessary announcement relating to such appointment will be made.

Additional Details

Name Of Person
Yeow See Onn
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
31/12/2018
Detailed Reason (s) for cessation
Mr Yeow has retired at the Annual General Meeting of the Company pursuant to Article 90 of the Company's Constitution and he has decided not to seek re-election.

Pursuant to his retirement as an Independent Director of the Company, Mr Yeow has also stepped down as Chairman of the Audit Committee and Member of each of the Remuneration Committee and Nominating Committee.
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
03/10/2014
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)
0
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Audit Committee, Member of the Remuneration Committee and Member of the Nominating Committee
Role and responsibilities
Independent Director
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
400,000 shares
Past (for the last 5 years)
Global2Res Pte Ltd
Present
Nil