Change - Announcement of Cessation::Retirement as Managing Director and Re-Designation to a Non-Executive and Non-Independent Director

Issuer & Securities

Issuer/ Manager
PEC LTD.
Securities
PEC LTD. - SG1Y45946619 - IX2
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Aug-2017 17:52:08
Status
New
Announcement Sub Title
Retirement as Managing Director and Re-Designation to a Non-Executive and Non-Independent Director
Announcement Reference
SG170831OTHR2YCN
Submitted By (Co./ Ind. Name)
Edna Ko Poh Thim
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Mr Wong Peng, who is currently the Managing Director of the Company, will be retiring as the Managing Director on 31 August 2017. The Board, having considered the recommendations of the management and the Nominating Committee ("NC") and having reviewed Mr Wong Peng's management experience with the Company and his extensive knowledge in the industry, concurred with the recommendations of the management and the NC, and approved the re-designation of Mr Wong Peng to a Non-Executive and Non-Independent Director of the Company with effect from 1 September 2017. Mr Wong Peng will continue to serve the Company as an Advisor after his retirement.

Additional Details

Name Of Person
Wong Peng
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
31/08/2017
Detailed Reason (s) for cessation
Retirement as Managing 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?
No
Date of Appointment to current position
01/07/2007
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Managing Director.
Role and responsibilities
Oversees the PEC Group's operations.
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
5,032,662 ordinary shares (direct interest) in the Company.
Past (for the last 5 years)
Please see attached.
Present
Please see attached.

Attachments

WP Directorships.pdf
Total size =2K