Change - Announcement of Cessation::Resignation as Chief Executive Officer

Issuer & Securities

Issuer/ Manager
ADVANCED SYSTEMS AUTOMATION LIMITED
Securities
ADVANCED SYSTEMS AUTOMATION - SG2E65980228 - 5TY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-Apr-2019 23:07:14
Status
New
Announcement Sub Title
Resignation as Chief Executive Officer
Announcement Reference
SG190408OTHR91S9
Submitted By (Co./ Ind. Name)
DATO' KHOR GARK KIM
Designation
LEAD INDEPENDENT DIRECTOR
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"), for compliance with the relevant rules of the SGX-ST. The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by SGX-ST and the SGX-ST assumes no responsibility for the contents of the announcement, including the correctness of any of the statement or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms Tay Sim Yee (Tel:(65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542

Additional Details

Name Of Person
DATO' MICHAEL LOH SOON GNEE
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
07/04/2020
Detailed Reason (s) for cessation
Dato' Michael Loh Soon Gnee has indicated that he is resigning from his position as the Chief Executive Officer of the Company in order to reduce his work load and travel commitments due to his age and family commitments. Dato' Michael remains as Chief Executive Officer and Executive Chairman of the Company until his resignation takes effect and will be working closely with the Board to achieve a smooth transition.

The new CEO will be announced when the appointment is made.

The Sponsor, after having interviewed Dato Michael, is satisfied that other than as disclosed in the announcement, there is no other reason for the resignation of Dato Michael.
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
12/11/2010
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)
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.)
Executive Chairman & CEO
Role and responsibilities
Dato' Michael Loh Soon Gnee s role and responsibilities include:

- Providing input on broad strategic directions for the Company;
- managing the daily running of the business;
- leading the Board to ensure its effectiveness on all aspects of its role;
- ensuring an accurate, timely and clear flow of information to the Directors, promoting a culture of openness and debate at the Board;
- ensuring effective communication with shareholders, encouraging constructive relations between the Board and Management; and
- facilitating the effective contribution of the Independent Directors and promoting high standards of corporate governance.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
4,444,444,444 Ordinary Shares
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Flexcomm Capital Pte. Ltd.
Present
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