Change - Announcement Of Cessation Of Independent Director
BackApr 08, 2024| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 8, 2024 17:40 |
| Status | New |
| Announcement Sub Title | Cessation of Independent Director |
| Announcement Reference | SG240408OTHRTJ8C |
| Submitted By (Co./ Ind. Name) | Wong Tze Leng |
| Designation | Executive Chairman |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Independent Director |
| Additional Details | |
| Name Of Person | Chuah Seong Phaik |
| Age | 76 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 24/04/2024 |
| Detailed Reason (s) for cessation | Mr Chuah Seong Phaik ("Mr Chuah") has served as Independent Director of the Company beyond 9 years from the date of his first appointment. In compliance with the Listing Rule 210(5)(d)(iv), which imposed a hard tenure limit for independent directors of 9 years and to facilitate board renewal, Mr Chuah will be stepping down as Independent Director of the Company after the conclusion of the Annual General Meeting to be held on 24 April 2024. Concurrently, Mr Chuah will relinquish his position as Chairman of the Audit and Nominating Committees and a member of the Remuneration Committee. |
| 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 | 18/12/2003 |
| 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) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of the Audit and Nominating Committees, Member of the Remuneration Committee. |
| Role and responsibilities | Independent Director, Chairman of the Audit and Nominating Committees, Member of the Remuneration Committee. |
| 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? | Yes |
| Shareholding Details | Deemed Interest - 50,000 Ordinary Shares |
| Past (for the last 5 years) | Nil |
| Present | - Captii Limited - Empire Business Systems Sdn Bhd - Empire Realty Sdn Bhd - PCCO Management Sdn Bhd - PCCO Tax Services Sdn Bhd - Sin Ban Hin Sdn Bhd - Teong Hak Development Sdn Bhd - Stelpa Sendirian Berhad - PCCO PLT |