| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Dec 1, 2022 17:18 |
| Status | New |
| Announcement Sub Title | Resignation of Lead Independent Director |
| Announcement Reference | SG221201OTHRHPWD |
| Submitted By (Co./ Ind. Name) | Leow Soon Hoe |
| Designation | Group Financial Controller |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Loh Chen Peng as Lead Independent Director of the Company. The Company is currently in the process of shortlisting a replacement Independent Director and will update Shareholders in due course. This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Ms Foo Jien Jieng,16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg. |
| Additional Details | |
| Name Of Person | LOH CHEN PENG |
| Age | 68 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 15/12/2022 |
| Detailed Reason (s) for cessation | Mr Loh Chen Peng ("Mr Loh") is stepping down from the position of Lead Independent Director as he is unable to devote sufficient time to the Company in view of his other commitments. After having interviewed Mr Loh and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Loh as the Company's Lead Independent Director. |
| 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 | 08/08/2017 |
| 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) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Director, Chairman of Audit Committee, Member of Nominating and Remuneration Committees. |
| 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 | Nil |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Bermaz Auto Berhad Tropicana Corporation Berhad Reverse Mortgage Sdn Bhd Seed2Tree Sdn Bhd |
| Present | Avarga Limited Juara Sergap Sdn Bhd |
