Change - Announcement Of Cessation As An Independent Director - Mr Ng Teck Sim Colin

BackDec 01, 2014
Announcement Title Change - Announcement of Cessation
Announcement Subtitle Cessation as an Independent Director - Mr Ng Teck Sim Colin
Date & Time of Broadcast Dec 1, 2014 20:18
Submitted By Andrew Roach Reddy
Managing Director
Description The sponsor of the Company, CIMB Bank Berhad, Singapore Branch (the "Sponsor"), is satisfied that there is no other material reasons for the cessation of Mr Ng Teck Sim Colin as Independent Director of the Company other than as disclosed in this announcement.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch (the Sponsor ) for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the SGX-ST ).

The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST and Sponsor assume 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 Mr Eric Wong (Director, Corporate Finance), CIMB Bank Berhad, Singapore Branch, 50 Raffles Place #09-01 Singapore Land Tower, Singapore 048623, telephone (65) 6337 5115.
Cessation Details
Name of person Ng Teck Sim Colin
Age 58
Is effective date of cessation known? Yes
Effective date for cessation Nov 30, 2014
Detailed reason(s) for cessation Given the current set up and resources of the Company and its management and Mr Ng's current priorities, Mr Ng felt that he is not able to continue to help the Company upgrade its internal systems and controls to the level that he feels is necessary. Hence, the best thing for the Company is to find the appropriate AC Chairman who is able to devote more time for this role.
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 Apr 30, 2012
Does the AC have a minimum of 3 members (taking into account this cessation)? No
Number of independent directors currently resident in Singapore (taking this account this cessation) 0
Number of cessations of appointments specified in Listing Rule 704(7) or Catalist Rule 704(6) over the past 12 months 1
Job Title Independent Director, the Chairman of Audit and Remuneration Committees and member of the Nominating Committee.
Role and responsibilities Discharged duties as Chairman of the Audit and Remuneration Committees and as member of the Nominating Committee in accordance with the Terms of Reference of the respective committees and as a Board member exercised joint and several responsibilities with the Board of Directors.
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries Nil
Shareholdings interest in the listed issuer and its subsidaries? No
Other directorships
Past (for the last 5 years) TSH Corporation Limited
Present Achieva Limited
Aztech Group Ltd
CEI Contract Manufacturing Limited