Change - Announcement of Cessation::Resignation of Non-Executive Independent Director
Issuer & Securities
Issuer/ Manager
SAKAE HOLDINGS LTD.
Securities
SAKAE HOLDINGS LTD. - SG1O42912715 - 5DO
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
17-Oct-2019 07:44:41
Status
New
Announcement Sub Title
Resignation of Non-Executive Independent Director
Announcement Reference
SG191017OTHRER5M
Submitted By (Co./ Ind. Name)
Shu Kwan Chyuan
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Mr Foo Maw Shen has resigned as Non-Executive Independent Director of the Company with effect from 16 October 2019. Consequently, Mr Foo Maw Shen ceased as Chairman of the Nominating Committee and a member of the Audit Committee.
Additional Details
Name Of Person
Foo Maw Shen
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
16/10/2019
Detailed Reason (s) for cessation
Differing views on the follow-up action to the disclaimer of the independent auditors in the report on the audit of the financial statements for FYE 30 June 2019.
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?
Yes
If Yes, Please provide full details
Differing views on the follow-up action to the disclaimer of the independent auditors in the report on the audit of the financial statements for FYE 30 June 2019.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Differing views on the follow-up action to the disclaimer of the independent auditors in the report on the audit of the financial statements for FYE 30 June 2019.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
28/01/2019
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nominating Committee and Member of Audit Committee
Role and responsibilities
Fulfilling the responsibilities of an 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?
No
Past (for the last 5 years)
Nil
Present
Multi-Chem Limited
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