Announcement Of Cessation As Chairman And Non-Executive Director
BackNov 06, 2013
| Resignation Details | |
| Name Of Person | Sim Siang Choon ("Mr Sim") |
| Age | 57 |
| Is Effective Date Of Cessation Known? | Yes |
| Effective Date Of Cessation | 06/11/2013 |
| Detailed Reason(s) for Cessation | Mr Sim needs to devote more time to his business. |
| Is there any difference of opinion on material matters between the person and the Board of directors? | No |
| If yes, please elaborate | NA |
| 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 |
| If yes, please elaborate | NA |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| If yes, please elaborate | NA |
| Date of Appointment to current position | 22/09/1999 |
| Job Title | Chairman (appointed on 20 August 2008) and Non-Executive Director (appointed as Executive Director on 22 September 1999 but re-designated as Non-Executive Director on 31 March 2013) |
| Role and Responsibilities | Mr Sim is responsible for setting the overall goals, business strategies and directions for the Company and Group. |
| Does the AC have a minimum of 3 members (taking into account this resignation)? | 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) over the past 12 months | 3 (including Mr Sim's cessation on 6 November 2013) |
| Interest in the listed issuer and its subsidiaries | Mr Sim has a direct interest in 46,500,000 shares and deemed interest in 6,590,000 shares held in the Company. |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr Sim is the husband of Madam Kwan Lin Siew, a substantial shareholder of the Company. |
| Other Directorship | |
| Past Directorship (for the last five years) | Loyz Energy Limited |
| Present Directorship | Sim Siang Choon Hardware (S) Pte Ltd |