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Change - Announcement Of Cessation Of Independent Director
BackApr 26, 2023
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 26, 2023 18:23 |
| Status | New |
| Announcement Sub Title | Cessation of Independent Director |
| Announcement Reference | SG230426OTHR6JCI |
| Submitted By (Co./ Ind. Name) | Tan Keng Siong Thomas |
| Designation | Executive Chairman & CEO |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Independent Director - Mr. Ong Sie Hou Raymond This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("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. Tay Sim Yee (telephone (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | Ong Sie Hou Raymond |
| Age | 53 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 26/04/2023 |
| Detailed Reason (s) for cessation | Retirement of Mr. Ong Sie Hou Raymond ("Mr. Ong") as Independent Director of the Company following the conclusion of the Annual General Meeting held on 26 April 2023. After having interviewed Mr. Ong, and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Ong 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 | 26/12/2013 |
| 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 | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of the Nominating Committee and Remuneration Committee and Member of the Audit and Risk Committee |
| Role and responsibilities | Independent Director |
| 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 | 100,000 shares |
| Past (for the last 5 years) | 1. Pegasus Offshore Pte. Ltd. 2. Pacific Offshore Equipment Pte. Ltd. |
| Present | 1. CTLC Law Corporation |
