This printed article is located at https://jumbogroup.listedcompany.com/news.html
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 24, 2025 19:55 |
| Status | New |
| Announcement Sub Title | Retirement of Independent Chairman |
| Announcement Reference | SG250124OTHR8HXL |
| Submitted By (Co./ Ind. Name) | Tan Yeow Meng, Stanley |
| Designation | Group Senior Financial Controller |
| Effective Date and Time of the event | 24/01/2025 17:00:00 |
| Description (Please provide a detailed description of the event in the box below) | This announcement has been prepared by Jumbo Group Limited (the "Company") and has been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist (the "Catalist Rules"). This announcement has not been examined or approved by the 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 Priscilla Ong, Vice President, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, telephone: +65 6533 9898. |
| Additional Details | |
| Name Of Person | Mr. Tan Cher Liang |
| Age | 72 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 24/01/2025 |
| Detailed Reason (s) for cessation | Mr. Tan Cher Liang has reached the nine-year limit of his tenure in October 2024. To be in compliance with Rule 406(3)(d)(iv) of the Catalist Rules, Mr. Tan Cher Liang has decided to retire by rotation and not seek re-election to the Board at the Company's annual general meeting held on 24 January 2025. Upon the retirement of Mr. Tan Cher Liang as a Director of the Company, he will cease to be the Independent Chairman of the Board and will relinquish his position as Chairman of the Audit Committee and as a member of the Remuneration and Nominating Committees. The Sponsor, after having interviewed Mr. Tan Cher Liang, is satisfied that other than as disclosed in this announcement, there are no material reasons for the retirement of Mr. Tan Cher Liang as the Independent Chairman of the Board. |
| 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 | 22/10/2015 |
| 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) | 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.) | Independent Chairman, Chairman of the Audit Committee, and a member of the Remuneration and Nominating Committees. |
| Role and responsibilities | Fulfilling the duties of the Independent Chairman, Chairman of the Audit Committee, and a member of the Remuneration and Nominating Committees. |
| 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) | 1. Wilton Resources Corporation Limited 2. Ezra Holdings Limited 3. EtonHouse Community Fund Limited 4. Children's Charities Association |
| Present | 1. Food Empire Holdings Limited 2. IPC Corporation Ltd 3. Kingsmen Creatives Ltd. 4. Vibrant Group Limited 5. D.S. Lee Foundation 6. D.S. Lee Singapore General Pte. Ltd. 7. D.S. Lee Specialist Group Pte. Ltd. 8. Deli Sumatra Legacy Co Pte. Ltd. 9. DSLSG Investment Co. Pte. Ltd. 10. E-Bridge Pre-School Pte. Ltd. 11. Grand Hotel SG Legacy Pte. Ltd. 12. The Nyalas Rubber Estates Limited 13. Hiap Seng Industries Limited |