| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 28, 2022 20:26 |
| Status | New |
| Announcement Sub Title | Resignation of Non-Independent Non-Executive Chairman |
| Announcement Reference | SG220128OTHR34FM |
| Submitted By (Co./ Ind. Name) | Chung Chee Khuen |
| Designation | Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Tong Kooi Ong as non-independent non-executive chairman of the Company. This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). This announcement 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 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg. |
| Additional Details | |
| Name Of Person | Tong Kooi Ong |
| Age | 62 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 11/02/2022 |
| Detailed Reason (s) for cessation | Will need to be away from Singapore and Malaysia mostly for the next few years due to family and business commitments. |
| 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 is currently in the process of seeking and finalising the appointment of a new director. |
| Date of Appointment to current position | 15/05/2013 |
| 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.) | Non-Independent Non-Executive Chairman, AC Member, RC Member and NC Member |
| Role and responsibilities | - Leading the Board to ensure its effectiveness on all aspects of its role; - Setting the agenda and ensure that adequate time is available for discussion of all agenda items, in particular strategic issues; - Promoting a culture of openness and debate at the Board; - Ensuring that the directors receive complete, adequate and timely information; - Ensuring effective communication with shareholders; - Encouraging constructive relations within the Board and between the Board and Management; - Facilitating the effective contribution of non-executive directors in particular; and - Promoting high standards of corporate governance |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Tong Kooi Ong is the sole ultimate beneficial owner of Phileo Capital Limited (substantial shareholder) through TMF Trustees Singapore Limited, the trustee of a family trust of which Mr Tong is the sole beneficiary. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 3Cnergy Limited - 1,447,947,840 ordinary shares, representing 47.21% of the issued share capital of the Company (deemed interest in the shares held by Phileo Capital Limited) |
| Past (for the last 5 years) | 1. 3Cnergy Property Management Pte. Ltd. 2. Whitehouse Holdings Private Limited 3. UPP Greentech Pte. Ltd. 4. Avarga Investment Pte. Ltd. 5. UPP Industries Pte. Ltd. 6. 3Cnergy Property Pte. Ltd. 7. Menchies Singapore Pte Ltd 8. The Edge Review Pte Ltd 9. The Edge Markets Pte Ltd 10. TKO Concepts Pte Ltd 11. C.T. Nominee Ltd 12. Maha Vivajaya Sdn Bhd 13. United Overseas Venture Sdn Bhd 14. Reversemortgage Sdn Bhd 15. UPP Pulp & Paper (M) Sdn Bhd 16. Harmoni Pelangi Sdn Bhd |
| Present | 1. Asia Analytica Sdn Bhd 2. Capai Bumi Sdn Bhd 3. Lojing Highland Resort Development Sdn Bhd 4. Edgeprop Sdn Bhd 5. Harmoni Bintang Sdn Bhd 6. Equilands Sdn Bhd 7. Avarga Limited 8. M+S Pte Ltd 9. Marina South Investments Pte Ltd 10. Ophir-Rochor Investments Pte Ltd 11. Asia Analytica Pte Ltd 12. Insider Asia Pte Ltd 13. Moresby Central Pte Ltd 14. Phileo Group Pte Ltd 15. The Edge Media Group Pte Ltd 16. The Edge Publishing Pte Ltd 17. Taiga Building Products Limited 18. I.T. Nominee Ltd 19. financialzoo Limited 20. C2T Capital Sdn Bhd (f.k.a. Ayu Temasek Sdn Bhd) |
