Change - Announcement Of Resignation Of An Independent Director

BackSep 29, 2017
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Sep 29, 2017 18:45
Status New
Announcement Reference SG170929OTHR79OG
Submitted By (Co./ Ind. Name) Andrew Roach Reddy
Designation Managing Director
Description (Please provide a detailed description of the event in the box below) This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor
("Sponsor"), Asian Corporate Advisors Pte Ltd., for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Company's Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made. The Sponsor is satisfied, based on the enquiries made, that there are no reasons for the resignation other than those stated in this announcement.

This announcement has not been examined or approved by the Exchange and the Exchange 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 Mr Liau H. K.
Telephone number: 6221 0271
Additional Details
Name Of Person Tee Guan Pian
Age 53
Is effective date of cessation known? Yes
If yes, please provide the date 30/09/2017
Detailed Reason (s) for cessation Given the current set up and resources of the Company and its management and Mr Tee's current priorities, Mr Tee 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 31/03/2015
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) 1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Independent Non-Executive Director, Chairman of Audit Committee, Chairman of Remuneration Committee and Member of Nominating Committee.
Role and responsibilities Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries Nil
Shareholding interest in the listed issuer and its subsidiaries? No
Past (for the last 5 years) Spring Gallery Berhad
Present UHY Advisory (KL) Sdn Bhd
UHY GST Consulting Sdn Bhd
UHY Tax Advisory Sdn Bhd
UHY Taxation Sdn Bhd
UHY Governance Sdn Bhd
One Asia Advisory Sdn Bhd
Fortune Substance Sdn Bhd
Offshore Waves Sdn Bhd