Change - Announcement of Cessation::Retirement of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
CHARISMA ENERGY SERVICES LIMITED
Securities
CHARISMA ENERGY SERVICES LTD - SG2B54957198 - 5QT
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Apr-2024 18:20:58
Status
New
Announcement Sub Title
Retirement of Independent Non-Executive Director
Announcement Reference
SG240426OTHRUUW4
Submitted By (Co./ Ind. Name)
Tan Ser Ko
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Simon de Villiers Rudolph as an Independent Non-Executive Director of the Company.


This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Shervyn Essex, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Simon de Villiers Rudolph
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
26/04/2024
Detailed Reason (s) for cessation
Mr Rudolph indicated his intention to retire prior to the annual general meeting held on 26 April 2024 ("AGM") and did not wish to seek re-election at the AGM. Mr Rudolph served as the Independent Non-Executive Director for the Company for more than nine years and pursuant to Rule 406(3)(d)(iv) of the Catalist Rules coupled with the progress of the ongoing restructuring of the Group, Mr Rudolph was of the view that it would be timely for him to retire and for the new directors to come on board to guide the Company forward.

After having interviewed Mr Rudolph and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that save as disclosed in this announcement, there are no other material reasons for the retirement of Mr Rudolph as the Independent Non-Executive Director.

In view of Mr Rudolph's retirement as the Company's Director, to meet the requirements set out in S201B of the Companies Act and Catalist Rule 704(7) and comply with the relevant principles and provisions of the Code of Corporate Governance 2018 ("Code") with regard to, inter alia, the composition of the respective Board Committees, the Board and the Nominating Committee will endeavour to fill the vacancies of the Board Committees, including the Audit Committee, within two months, but in any case not later than three months from 26 April 2024 so to meet the minimum number of not less than three members for each of the Audit Committee, 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
01/07/2013
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
5
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman of the Audit Committee

A member of Remuneration Committee and a member of Nominating Committee
Role and responsibilities
Chairman of the Audit Committee

A member of Remuneration Committee and a member of Nominating Committee
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
10,000,000 ordinary shares of the Company

10,000,000 options to subscribe for ordinary shares of the Company
Other Directorships
Past (for the last 5 years)
Novel Diamond Fund;
Giordano International Limited
Present
-