Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Apr 25, 2017 17:22
Status New
Announcement Sub Title Cessation of Independent Director Who is the Chairman of the Audit Committee
Announcement Reference SG170425OTHR6YVY
Submitted By (Co./ Ind. Name) Mr. Wuthichai Chongcharoenrungrot
Designation Senior Manager, Legal & Corporate Affairs Dept.
Description (Please provide a detailed description of the event in the box below) Cessation of Mr. Ng Cher Yan as Independent Director, Chairman of the Audit Committee and the Remuneration Committee, and as a Member of the Nomination Committee and the Risk Management Committee.
Additional Details
Name Of Person Mr. Ng Cher Yan
Age 58
Is effective date of cessation known? Yes
If yes, please provide the date 25/04/2017
Detailed Reason (s) for cessation Mr. Ng Cher Yan retired as a Director at the Annual General Meeting of Shareholders of the Company No. 01/2017 held on 25 April 2017. As a result of his retirement, Mr. Ng also ceased to be Chairman of the Audit Committee and the Remuneration Committee, and a Member of the Nomination Committee and the Risk Management Committee respectively.
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? Yes
If Yes, Please provide full details The Company would like to record its appreciation to Mr. Ng who has been a Director of the Company since 19 June 2012. We thank him for his contributions and insights and wish him well.
Date of Appointment to current position 19/06/2012
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 8
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Independent Director, Chairman of the Audit Committee and Remuneration Committee, and Member of Nomination Committee and Risk Management Committee
Role and responsibilities Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries No.
Shareholding interest in the listed issuer and its subsidiaries? No
Past (for the last 5 years) Kinergy Ltd
Kian Ann Engineering Ltd
Ecowise Holdings Ltd
Seascape Surveys Pte Ltd
Mermaid MTN Pte Ltd
MTR-2 (Singapore) Pte Ltd
Bonython Trading Pte Ltd
Lancashire General Properties (S) Pte Ltd
Mermaid Drilling (Singapore) Pte Ltd
Mermaid Offshore Services Pte Ltd
MTR-1 (Singapore) Pte Ltd
MTR-3 (Singapore) Pte Ltd
MTR-4 (Singapore) Pte Ltd
Present Samko Timber Ltd
Vicplas International Ltd
MoneyMax Financial Services Ltd
Bull Will Co Ltd
Serial System Ltd