Stock Code:YYB.SI
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | Cessation of Executive Director |
| Securities |
ELEKTROMOTIVE GROUP LIMITED (ELEKTROG) |
| Date & Time of Broadcast | May 3, 2015 17:58 |
| Submitted By |
RICKY ANG GEE HING EXECUTIVE VICE-CHAIRMAN AND MANAGING DIRECTOR |
| Description |
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 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. |
| Cessation Details | |
| Name of person | Tan Choon Wee |
| Age | 49 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | May 1, 2015 |
| Detailed reason(s) for cessation |
Mr Tan is of the view that he will not be able to fulfil the duties of an Executive Director of the Company due to his other commitments. Based on its enquiries, the Company's Sponsor is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Tan as Executive Director and Chairman of Investment Committee of the Company. In addition, there are no disagreements between Mr Tan and the Company's Board of Directors with regard to practices that will have an impact to the Company's financial reporting. |
| 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 | Dec 5, 2006 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this 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 | 0 |
| Job Title | Executive Director and Chairman of Investment Committee |
| Role and responsibilities | Executive Director and Chairman of Investment Committee |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | NA |
| Shareholdings interest in the listed issuer and its subsidaries? | Yes |
| Shareholding Details | Mr Tan directly holds 425,000 ordinary shares and 525,000 warrants and he is deemed to be interested in the 2,125,000 ordinary shares and 2,625,000 warrants held by Lexicon Capital Holdings Limited. |
| Other directorships | |
| Past (for the last 5 years) |
Admiralty Engineering Pte Ltd Advance Capital Partners Pte Ltd AE Environmental Engineering Pte Ltd Amanda Industries Pte Ltd Amanda Maintenance, Industrial, General & Offshore Services Limited Asia Engineering Holdings Pte Ltd Asia Renewable Energy Pte Ltd ChinaEversave Ltd Golden Way Holding Pte Ltd Hivern Investments Pte Ltd Louisson Investment Pte Ltd Renewable Energy Holdings Pte Ltd Yew Hock Marine Engineering Pte Ltd Delightful Indulgence Pte Ltd Latitude Capital Asset Limited Latitude Capital Asian Growth Fund Latitude Capital Partners Limited W Corporation Limited FDS Network Limited |
| Present |
Advance Capital Partners Limited Advance Opportunities Fund Advance Capital Partners Asset Management Private Limited Energy Capital Partners Ltd Lexicon Capital Holdings Limited Virago Capital Ltd |