Stock Code:YYB.SI
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jul 31, 2018 17:46 |
| Status | New |
| Announcement Sub Title | RETIREMENT OF PROF. LING CHUNG YEE ROY, INDEPENDENT DIRECTOR |
| Announcement Reference | SG180731OTHRVC7J |
| Submitted By (Co./ Ind. Name) | Ng Kai Man |
| Designation | Executive Director |
| Description (Please provide a detailed description of the event in the box below) |
Announcement of Retirement of Director. This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. ("Sponsor") for compliance with the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made, or reports contained in this announcement. The contact person for the Sponsor is Ms Keng Yeng Pheng, Associate Director, Continuing Sponsorship, (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg). |
| Additional Details | |
| Name Of Person | Ling Chung Yee Roy |
| Age | 41 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 31/07/2018 |
| Detailed Reason (s) for cessation | Prof. Roy Ling has retired as an Independent Director of the Company after the conclusion of the Annual General Meeting to facilitate a reduction in the size of the Board. Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that, other than disclosed in this announcement, there are no material reasons for the retirement of Prof. Roy Ling as an Independent Director of the Company. |
| 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 | 14/02/2013 |
| 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) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of the Renumeration Committee and Member of the Audit Committee. |
| Role and responsibilities | To perform the functions of Independent Director and fulfilling duties and responsibilities as the Chairman of the Renumeration Committee and a member of the Audit Committee. |
| 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? | Yes |
| Shareholding Details | Held 3,000,000 ordinary shares and options to purchase 6,000,000 ordinary shares |
| Past (for the last 5 years) |
Arion Entertainment Singapore Ltd. Chaswood Resources Holdings Ltd. China Flexible Packaging Holdings Ltd. ChinaSing Investment Holdings Ltd. Aquaint Capital Holdings Ltd. JES International Holdings Ltd. China Paper Holdings Ltd. |
| Present |
BSDCN Pte. Ltd. Ace Acheive Infocom Ltd. Pine Capital Group Ltd. TAP Private Equity Pte. Ltd. TAP Venture Fund 1 Pte. Ltd. United Food Holdings Ltd. Ley Choon Group Holdings Ltd. Vingroup JSC |