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Change - Announcement Of Retirement Of Lead Independent Director

BackApr 02, 2024

Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Apr 2, 2024 7:26
Status New
Announcement Reference SG240402OTHR0DG1
Submitted By (Co./ Ind. Name) Or Toh Wat
Designation Group Managing Director
Description (Please provide a detailed description of the event in the box below) Retirement of Lead Independent Director - Dr Chen Seow Phun, John
Additional Details
Name Of Person Chen Seow Phun, John
Age 70
Is effective date of cessation known? Yes
If yes, please provide the date 23/04/2024
Detailed Reason (s) for cessation Dr Chen Seow Phun, John has served on the Board for more than nine years and will cease to be considered independent upon the conclusion of the Company's Annual General Meeting to be held on 23 April 2024, pursuant to Rule 210(5)(d)(iv) of the Listing Manual of the Singapore Exchange Securities Trading Limited. Dr Chen has informed the Board of his wish to retire from office at the close of the said Annual General Meeting. Upon his retirement, he will cease to be the Lead Independent Director, Chairman of the Audit Committee and a member of the Nominating Committee and 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 25/06/2002
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) 2
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 the Audit Committee and member of the Nominating Committee and Remuneration Committee
Role and responsibilities Duties of the Lead Independent Director, Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee
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? Yes
Shareholding Details Deemed interest in 38,000 shares of the Company
Past (for the last 5 years) Hiap Seng Engineering Ltd
Fu Yu Corporation Limited
Hong Lai Huat Group Limited
Exeterstar Holdings Pte. Ltd.
MHC Asia Group Pte. Ltd.
Tianjin Lanting Leasing Co. Ltd (formerly known as Pavillon Financial Leasing Co. Ltd)
Pavillon Business Development (Shanghai) Co. Ltd
Fengchi IOT Management Co. Ltd
Present Cosco Shipping International (Singapore) Co., Ltd.
PSC Corporation Ltd.
Tat Seng Packaging Group Ltd
Matex International Limited
JCL Business Development Pte Ltd
Pavillon Holdings Ltd.
SAC Capital Private Limited
Sinostar Pec Holdings Limited
SAC Advisors Private Limited
JLM Foundation Ltd.