Change - Announcement Of Cessation Of Independent Director Who Is The Chairman Of The Audit Committee
25 April 2017
| 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 |