| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Dec 6, 2024 21:13 |
| Status | New |
| Announcement Sub Title | Resignation of Chief Financial Officer |
| Announcement Reference | SG241206OTHRHTDO |
| Submitted By (Co./ Ind. Name) | Iqbal Jumabhoy |
| Designation | Chief Executive Officer and Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Chief Financial Officer 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 "Exchange") and the Exchange 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 | Surawat Suwanyangyuen |
| Age | 42 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 06/12/2024 |
| Detailed Reason (s) for cessation | After leading the Company and its subsidiaries (the "Group") towards a successful refinancing of the loans, Surawat Suwanyangyuen ("Mr. Surawat") has tendered his resignation as the Chief Financial Officer ("CFO") of the Company with immediate effect to return to and focus on his financial advisory business. The Company, having considered the fact that its Group Financial Controller ("Group FC") and Vice President of Strategic Finance had been closely supporting Mr. Surawat in the work streams all these while, and that Mr. Iqbal Jumabhoy, the Chief Executive Officer and Executive Director ("CEO") has been kept abreast with the developments on the financial and accounting front, concurred with the immediate release from office. In the interim, the duties of the CFO will be shared between the CEO and Group FC. After having interviewed Mr. Surawat 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 material reasons for the cessation of Mr. Surawat as CFO. In addition, there are no concerns with regards to financial reporting that led to the cessation of Mr. Surawat, and there are no disagreements between Mr. Surawat and the Company's Board of Directors with regards to practices that will have an impact on the Company's financial reporting. |
| 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 | 02/09/2024 |
| 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 | 9 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Financial Officer |
| Role and responsibilities | Chief Financial Officer. Areas of responsibility include Finance and Accounting. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Directorships: Alpha Capital Partners Group Co., Ltd. Wireless Assets Management Co., Ltd. Siamese Assets Public Co., Ltd. Other principal commitments: None |
| Present | Directorships: YDM (Thailand) Co., Ltd. Canvas Capital Design Co., Ltd. Other principal commitments: None |
