Change - Announcement Of Retirement Of Non-Independent Non-Executive Director - Mr Zhang Zihao
BackDec 08, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Dec 8, 2025 8:26 |
| Status | New |
| Announcement Sub Title | Retirement of Non-Independent Non-Executive Director - Mr Zhang Zihao |
| Announcement Reference | SG251208OTHR2GSZ |
| Submitted By (Co./ Ind. Name) | Liu Qiang |
| Designation | Executive Director and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Mr Zhang Zihao as Non-Independent Non-Executive Director of the Company upon conclusion of the Company's forthcoming annual general meeting to be held on 23 December 2025. This announcement has been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201. |
| Additional Details | |
| Name of person | Zhang Zihao |
| Age | 33 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date. | 23/12/2025 |
| Detailed reason(s) for cessation | Mr. Zhang Zihao ("Mr Zhang") will be retiring as the Non-Independent Non-Executive Director of the Company pursuant to Regulation 118 of the Constitution of the Company and will not be seeking re-election as a Director at the upcoming annual general meeting of the Company to focus on his personal commitments ("Retirement"). In addition, Mr Zhang is of the view that his Retirement will allow the Company to re-constitute the composition of the Board to comprise a majority of independent directors to strengthen corporate governance and enhance efficiency, objectivity and oversight. Following the Retirement, Mr Zhang will also cease to be a member of the Audit Committee, the Nominating Committee and the Remuneration Committee. In light of Mr Zhang's retirement, the Company is seeking suitable candidate(s) to fill the vacancy. The Company will release an announcement on the updated Board and the respective Board Committees' composition when they have been finalised. After having interviewed Mr Zhang, and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the Retirement of Mr Zhang. |
| 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 | 09/06/2025 |
| Job title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Independent Non-Executive Director as well as a member of the Audit Committee, the Nominating Committee and the Remuneration Committee |
| Role and responsibilities | Assumed the roles and responsibilities of the Non-Independent Non-Executive Director as well as a member of the Audit Committee, the Nominating Committee and the Remuneration Committee |
| 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) | 0 |
| Do independent directors make up at least one-third of the board (taking into account this cessation)? | Yes |
| Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months | 3 |
| Shareholding interest in the listed issuer and its subsidiaries | No |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Yes, Mr Zhang is the son of Mr Zhang Jiahui, a substantial shareholder of the Company. |
| Other Directorships Past (for the last 5 years) |
Nil |
| Present | 1. Norking Construction Pte. Ltd. 2. Ruey Interiors Pte. Ltd (formerly known as Ray Feng Trading Private Limited) |