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