Change - Announcement of Cessation::Resignation of Group Vice President

Issuer & Securities

Issuer/ Manager
SUNPOWER GROUP LTD.
Securities
SUNPOWER GROUP LTD. - BMG8585U1027 - 5GD
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
30-Apr-2021 08:24:01
Status
New
Announcement Sub Title
Resignation of Group Vice President
Announcement Reference
SG210430OTHRW47G
Submitted By (Co./ Ind. Name)
Ma Ming
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Group Vice President

Additional Details

Name Of Person
Jiang Yanyun
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2021
Detailed Reason (s) for cessation
As disclosed in the Company's announcement in connection with the satisfaction of certain conditions precedent to payment of the tranche 1 consideration for the proposed disposal of the Group's entire manufacturing and services business through the sale of the entire issued and paid-up share capital (the "Sale Shares") of Sunpower Technology (Jiangsu) Co., Ltd., an indirect wholly-owned subsidiary of the Company, the completion of the registration of the full legal title to the Sale Shares in the name of Nanjing Sunpower Holdings Co., Ltd, being the purchaser of the Sale Shares (the "Purchaser"), has been completed. As disclosed in the circular dispatched to the Company's shareholders on March 31, 2021 (the "Circular"), in connection with the Proposed Disposal, Ms. Jiang, will be joining the Purchaser from April 30, 2021 and as such, has therefore resigned from the position of Group Vice President. Further information in relation to the cessation is contained in the Circular.
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
12/02/2018
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Group Vice President
Role and responsibilities
Ms. Jiang is mainly responsible for the operation of the M&S Business
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
As at the date of the announcement, Ms. Jiang holds 1,041,000 ordinary shares in the Company.
Past (for the last 5 years)
None
Present
Director, Jiangsu Sunpower Combustion Technology Co., Ltd.
Director, Lianshui Sunpower Clean Energy Co., Ltd.