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Change - Announcement Of Retirement Of Non-Executive Director
BackJan 17, 2020
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 17, 2020 19:38 |
| Status | New |
| Announcement Sub Title | Retirement of Non-Executive Director |
| Announcement Reference | SG200117OTHR67LL |
| Submitted By (Co./ Ind. Name) | Tay Peng Huat |
| Designation | Chief Financial Officer |
| Effective Date and Time of the event | 17/01/2020 17:00:00 |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Mr. Ron Sim Chye Hock as a Non-Executive Director of the Company. This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with Rules 226(2) and 753(2) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. 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 Mr. Chia Beng Kwan, Senior Director, 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 | Ron Sim Chye Hock |
| Age | 61 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 17/01/2020 |
| Detailed Reason (s) for cessation | At the Company's annual general meeting held on 17 January 2020, Mr. Ron Sim Chye Hock, a Non-Executive Director who was appointed in 2017, retired by rotation in accordance with the Constitution and has decided not to seek re-election to the Board. Other than as disclosed in this announcement, there are no other reasons for the cessation of Mr. Ron Sim Chye Hock as a 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? | No |
| Date of Appointment to current position | 12/05/2017 |
| 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 Director |
| Role and responsibilities | Responsibilities as a Non-Executive Director of the Company |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr. Ron Sim Chye Hock is the father of Ms. Sim Yu Juan Rachel, who is an Alternate Director of the Company. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr. Ron Sim Chye Hock holds 64,166,600 shares in the Company, representing approximately 10.0% of the total shares in the Company (excluding treasury shares). |
| Past (for the last 5 years) | - Perennial (Capitol) Pte Ltd - Perennial Tongzhou Holdings Pte Ltd - Perennial Tongzhou Development Pte Ltd - New Capitol Pte Ltd - Perennial (CHIJMES) Pte. Ltd. - Perennial Somerset Investors Pte. Ltd. |
| Present | - V3 Asset Pte Ltd - V3 Capital & Investment Pte Ltd - Vision Three Limited and its direct and indirect subsidiary and associated companies, including: (i) V3 Group Limited (ii) V3 Fintech Pte Ltd (iii) V3 Group (Singapore) Pte Ltd (iv) OSIM International Pte Ltd and its subsidiaries and associated companies (v) ONI Global Pte Ltd and its subsidiaries (vi) TWG Tea Company Pte Ltd and its subsidiaries (vii) Future Store Pte Ltd and its subsidiaires - Perennial Real Estate Holdings Ltd |