News
Change - Announcement Of Resignation Of Non-Executive And Independent Director
BackSep 11, 2023
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Sep 11, 2023 17:53 |
| Status | New |
| Announcement Sub Title | Resignation of Non-Executive and Independent Director |
| Announcement Reference | SG230911OTHRMV07 |
| Submitted By (Co./ Ind. Name) | Ng Mun Fai |
| Designation | Chief Financial Officer |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Non-Executive and Independent Director |
| Additional Details | |
| Name Of Person | Sun Shu |
| Age | 71 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/08/2023 |
| Detailed Reason (s) for cessation | Mr Sun has served on the Board for more than 6 years since 23 December 2016 and has decided to resign as he finds that he is not able to meet the needs of the current work of the Board and the relevant committees due to old age. Following his resignation, he will cease as the Independent Director, the Chairman of the Remuneration Committee, member of the Audit and Risk Committee and member of the Nomination Committee. The Trustee-Manager will endeavour to fill the vacancy within two months, but in any case, not later than three months for meeting the number of independent and non-executive director within the Board and Board Committees. |
| 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 | 23/12/2016 |
| 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) | 3 |
| 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.) | Non-Executive Independent Director, Chairman of Remuneration Committee, member of Audit and Risk Committee and member of Nominating Committee |
| Role and responsibilities | Independent and Non-executive |
| 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? | No |
| Past (for the last 5 years) | Shen Yao Holdings Limited (formerly known as Liongold Corp Ltd) |
| Present | None |