Stock Code:YYB.SI
| Issuer & Securities | |
| Issuer/ Manager | ELEKTROMOTIVE GROUP LIMITED |
| Securities | |
| Name | ELEKTROMOTIVE GROUP LIMITED |
| ISIN | SG2F80993502 |
| Stock Code | 5VU |
| Stapled Security | No |
| Announcement Details | |
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Nov 21, 2016 17:22 |
| Status | New |
| Announcement Sub Title | Cessation of Non-Executive and Non-Independent Chairman |
| Announcement Reference | SG161121OTHREAVW |
| Submitted By (Co./ Ind. Name) | NG KAI MAN |
| Designation | EXECUTIVE DIRECTOR |
| Description (Please provide a detailed description of the event in the box below) |
Please see attached. This announcement has been prepared by Elektromotive Group Limited (the "Company") and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of the 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, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088. |
| Additional Details | |
| Name Of Person | RICKY ANG GEE HING |
| Age | 65 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 21/11/2016 |
| Detailed Reason (s) for cessation |
Mr Ricky Ang Gee Hing is of the view that he will not be able to fulfill the duties of Non-Executive and Non-Independent Chairman of the Company due to his other commitments. Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Ang as Non-Executive and Non-Independent Chairman. |
| 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 | 08/07/2016 |
| 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) | 5 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive and Non-Independent Chairman |
| 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 | No |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Ang holds 16,726,548 shares in the Company. As Mr Ang owns 50% of the Fontana Investments Pte Ltd, he is deemed to be interested in the 4,793,538 shares in the Company held by Fontana Investments Pte Ltd. |
| Past (for the last 5 years) |
Panpac Marketing & Circulation Pte Ltd Lifestyle Magazines Publishing Pte Ltd TLG Specialist Magazines Pte Ltd TLG Properties Pte Ltd Smartinvestor Pte Ltd Lexicon F&B Pte Ltd E-Motive (Asia) Pte Ltd MOB Holdings Pte Ltd Romulus Holdings Pte Ltd Tom N Toms International Pte Ltd Tom N Toms Retail Pte Ltd Boardroom Venture Pte. Ltd. Auston Technology Group Pte Ltd Elektromotive Group Limited Elektromotive Limited Inovatif Media Asia Sdn Bhd Panpac Tech Strategic Ltd |
| Present |
Fontana Investments Pte Ltd Wine & Dine Experience Pte Ltd |