Announcement Reference
SG200429OTHRGTAQ
Submitted By (Co./ Ind. Name)
Tan Yee Ho
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Yap Kian Peng as an Independent 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, ZICO Capital Pte. Ltd. (the “Sponsor”), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (“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 Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.
Additional Details
Name Of Person
Yap Kian Peng
Age
53
Is effective date of cessation known?
Yes
If yes, please provide the date
19/05/2020
Detailed Reason (s) for cessation
Mr Yap Kian Peng (“Mr Yap”) will be retiring by rotation under Regulation 104 of the Company’s Constitution as an Independent Non-Executive Director of the Company at the close of the Company’s forthcoming Annual General Meeting to be held on 19 May 2020. He will not be seeking re-election as part of the Board’s renewal plans and after having served on the Board for more than 9 years. Upon his retirement, Mr Yap will also cease to be the Chairman of the Remuneration Committee and a member of the Audit Committee and the Nominating Committee.
After having interviewed Mr Yap and to the best of its knowledge, the Company’s Sponsor, ZICO Capital Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Yap as an Independent Non-Executive 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
31/10/2007
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, Chairman of the Remuneration Committee and a member of the Audit Committee and the Nominating Committee.
Role and responsibilities
Assumed the roles and responsibilities of the Independent Non-Executive Director, Chairman of the Remuneration Committee and a member of the Audit Committee and the Nominating Committee.
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?
Yes
Shareholding Details
Direct interest of 50,000 shares in the Company
Past (for the last 5 years)
1. Agrow Land Pte. Ltd.
2. Agrow Development Pte. Ltd.
3. Winsta Holding Pte. Ltd.
4. Agrow Realty Pte. Ltd. (Struck off)
5. Xinde Food Holdings Private Limited (Struck off)
6. Carlisle Hostel Management Pte. Ltd. (In Liquidation – Creditors’ Voluntary Winding Up)
7. Global Residence Pte. Ltd. (In Liquidation – Creditors’ Voluntary Winding Up)
8. Katong Hostel Pte. Ltd. (In Liquidation – Creditors’ Voluntary Winding Up)
9. Pearl Hill Hostel Pte. Ltd. (In Liquidation – Creditors’ Voluntary Winding Up)
10. The Hill Lodge @ Mount Vernon Pte. Ltd. (In Liquidation – Creditors’ Voluntary Winding Up)
11. Queensway Student Hostel Pte. Ltd. (In Liquidation – Creditors’ Voluntary Winding Up)
12. Evan Hostel Pte. Ltd. (In Liquidation – Creditors’ Voluntary Winding Up)
13. Wenul Properties Pte. Ltd. (In Liquidation – Members’ Voluntary Winding Up)
Present
1. Jackspeed Corporation Limited
2. Capital Equity Holdings Pte. Ltd.
3. M Development Ltd.
4. Seroja Investments Limited
5. Index Credit Pte Ltd
6. Index Agency Pte. Ltd.
7. Jackson Vehicle Holdings Pte. Ltd.
8. Legenda Pte. Ltd.
9. Newfort Realty Pte. Ltd.
10. Jackspeed Holdings Pte. Ltd.
11. Simply Motor Pte. Ltd.