Change - Announcement of Cessation::Retirement of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
WORLD PRECISION MACHINERY LIMITED
Securities
WORLD PRECISION MACHINERY LTD - SG1T29930156 - B49
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Nov-2022 17:27:19
Status
New
Announcement Sub Title
Retirement of Chief Executive Officer
Announcement Reference
SG221121OTHRTQ25
Submitted By (Co./ Ind. Name)
Shao Jianjun
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Zhuang Guosheng as Chief Executive Officer ("CEO") of the Company. Mr Zhuang Guosheng shall remain as the Chief Deputy General Manager of World Precise Machinery (China) Co., Ltd. ("WPMC"), an executive officer and a member of the Group's key management team.

Additional Details

Name Of Person
Zhuang Guosheng
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
21/11/2022
Detailed Reason (s) for cessation
Mr Zhuang Guosheng retired as CEO of the Company at the end of term of his service agreement with the Company. Mr Zhuang Guosheng shall remain as the Chief Deputy General Manager of WPMC, an Executive Officer (as defined in the Listing Manual of the Singapore Exchange Securities Trading Limited) and a member of the Group's key management team.
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
22/11/2019
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
CEO of the Company and Chief Deputy General Manager of WPMC
Role and responsibilities
Mr Zhuang Guosheng was in charge of the overall operations of the Group as CEO of the Company. As the Chief Deputy General Manager of WPMC, he is in charge of production, technical, quality control, procurement and equipment department of WPMC.
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
Other Directorships
Past (for the last 5 years)
Nil
Present
Nil