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Change - Announcement Of Retirement Of Non-Executive Non-Independent Director - Derek Lau Tiong Seng
BackApr 21, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 21, 2025 18:39 |
| Status | New |
| Announcement Sub Title | Retirement of Non-Executive Non-Independent Director - Derek Lau Tiong Seng |
| Announcement Reference | SG250421OTHRU64S |
| Submitted By (Co./ Ind. Name) | Lai Kuan Loong Victor |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Non-Executive Non-Independent Director - Derek Lau Tiong Seng |
| Additional Details | |
| Name Of Person | Derek Lau Tiong Seng |
| Age | 58 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 21/04/2025 |
| Detailed Reason (s) for cessation | Mr Derek Lau Tiong Seng ("Mr Lau") is nominee of Heliconia Capital Management Pte Ltd ("Heliconia"), a controlling shareholder of the Company. Mr Lau has retired from Heliconia and he has indicated his intention to retire at the conclusion of the Annual General Meeting held on 21 April 2025 (the "AGM"). Accordingly, Mr Lau retired as Non-Executive Non-Independent Director at the conclusion of the AGM and consequently ceased to be a member of the Nominating Committee. |
| 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 | 22/07/2020 |
| 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) | 4 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 3 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Non-Independent Director and member of the Nominating Committee |
| Role and responsibilities | Non-Executive Non-Independent Director and member of the Nominating Committee |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Please see attached Appendix A. |
| Present | Please see attached Appendix A. |
Attachments
- Appendix A (Size: 89,315 bytes)
