News
Change - Announcement Of Retirement Of Mr. Sunny Wong Fook Choy As Lead Independent Director
BackApr 29, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 29, 2024 17:48 |
| Status | New |
| Announcement Sub Title | Retirement of Mr. Sunny Wong Fook Choy as Lead Independent Director |
| Announcement Reference | SG240429OTHRD8LM |
| Submitted By (Co./ Ind. Name) | Sim Soon Ngee Glenndle |
| Designation | Executive Chairman and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Mr. Sunny Wong Fook Choy as Lead Independent Director. This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST 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. Charmian Lim (Telephone no.: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | Sunny Wong Fook Choy |
| Age | 68 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/04/2024 |
| Detailed Reason (s) for cessation | Mr. Sunny Wong Fook Choy ("Mr. Sunny Wong") retired from office at the Annual General Meeting of the Company held on Monday, 29 April 2024. He has relinquished his position as Lead Independent Director, Chairman of the Nominating Committee as well as a member of the Audit Committee and Remuneration Committee. After having interviewed Mr. Sunny Wong, and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, save as disclosed in this announcement, there are no material reasons for the retirement of Mr. Sunny Wong as Lead Independent Director of the Company. |
| 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? | Yes |
| If Yes, Please provide full details | The Company is in the midst of identifying a third independent director candidate and will endeavour to fill the vacancy in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rule 704(7) of the Catalist Rules and the Code of Corporate Governance 2018. |
| Date of Appointment to current position | 29/05/2008 |
| 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 | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | - Lead Independent Director - Chairman of the Nominating Committee - Member of the Audit Committee - Member of the Remuneration Committee |
| Role and responsibilities | Lead Independent Director, Chairman of the Nominating Committee as well as a member of the Audit Committee and 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 | Direct Interest: 2,620,800 Deemed Interest: Nil |
| Past (for the last 5 years) | - KTL Global Limited - Wong Tan & Molly Lim LLC - WTML Management Services Pte Ltd - Prosery Far East Pte. Ltd. - Excelpoint Technology Ltd. - InnoTek Limited (with effect from 26 April 2024) |
| Present | - Civmec Limited |