Announcements
Change - Announcement Of Resignation Of Non-Executive And Non-Independent Chairman Of The Board
Apr 08, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 8, 2022 19:08 |
| Status | New |
| Announcement Sub Title | Resignation of Non-Executive and Non-Independent Chairman of the Board |
| Announcement Reference | SG220408OTHRSEO1 |
| Submitted By (Co./ Ind. Name) | Pierre Prunier |
| Designation | Chief Executive Officer and Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Non-Executive and Non-Independent Chairman of the Board - Madam Song Xingyi This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST 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 Ms Charmian Lim (telephone no.: +65 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | Song Xingyi |
| Age | 73 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 24/04/2022 |
| Detailed Reason (s) for cessation | Following the completion of the disposal of the Company's shareholding interests in Yinda Technology Singapore Pte. Ltd. and Yinda Technology (Thailand) Co., Ltd. on 8 April 2022, the Group will exit from the provision of telecommunications solutions and services. The Company had on 7 April 2022 received a formal notification from Madam Song Xingyi notifying the Board of her resignation as the Non-Executive and Non-Independent Chairman of the Board of the Company with effect from 24 April 2022. The Nominating Committee and the Board had accepted the notification on 7 April 2022 and agreed with Madam Song Xingyi on her effective date of cessation considering the Group's exit from the telecommunications solutions business subsequent to completion of the disposal. The Company's sponsor, SAC Capital Private Limited, after having interviewed Madam Song Xingyi, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Madam Song Xingyi as Non-Executive and Non-Independent Chairman of the Board 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 | 30/09/2017 |
| 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) | 4 |
| 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.) | Non-Executive and Non-Independent Chairman of the Board |
| 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) | Nil |
| Present | Yinda Pte. Ltd. |