Change - Announcement Of Resignation Of Non-Executive Non-Independent Director And Chairman, Mr Lee Chye Cheng, Adrian
BackMar 08, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 8, 2022 20:16 |
| Status | New |
| Announcement Sub Title | Resignation of Non-Executive Non-Independent Director and Chairman, Mr Lee Chye Cheng, Adrian |
| Announcement Reference | SG220308OTHRB4IQ |
| Submitted By (Co./ Ind. Name) | Pang Kee Chai, Jeffrey |
| Designation | Director |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Non-Executive Non-Independent Director and Chairman, Mr Lee Chye Cheng, Adrian This announcement has been prepared by CapAllianz Holdings Limited (the "Company") and its contents have been reviewed by the Company's sponsor (the "Sponsor"), ZICO Capital Pte. Ltd., in accordance with Rule 226(2)(b) 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 Ms Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03, Robinson 77, Singapore 068896, telephone (65) 6636 4201. |
| Additional Details | |
| Name Of Person | Lee Chye Cheng, Adrian |
| Age | 42 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 09/03/2022 |
| Detailed Reason (s) for cessation | Mr Lee Chye Cheng, Adrian ("Mr Lee") has tendered his resignation as the Non-Executive Non-Independent Director and Chairman of the board of directors (the "Board") of CapAllianz Holdings Limited (the "Company", and together with its subsidiaries, the "Group") ("Resignation"). Having considered the Group's strengthened balance sheet following the completion of the Company's recent placement exercise and having served on the Board for more than nine years since his date of appointment as a director of the Company, Mr Lee tendered his resignation to allow for Board rejuvenation which would be beneficial for the Group and the Company's shareholders. Following the Resignation, Mr Lee will also cease to be a member of the Audit Committee and the Remuneration Committee of the Company. After having interviewed Mr Lee 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 Resignation. |
| 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 | 14/01/2022 |
| 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.) | Chairman of the Board, Non-Executive Non-Independent Director as well as a member of the Audit Committee and Remuneration Committee. |
| Role and responsibilities | Assumed the roles and responsibilities of the Chairman of the Board, Non-Executive Non-Independent Director, as well as a member of the Audit Committee and the Remuneration 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 in 9,798,652 shares in the Company |
| Past (for the last 5 years) | Raimon Land PLC Interlink Petroleum Limited |
| Present | KE Group Thailand Jit Sun Investments Pte Ltd |