Announcements
Change - Announcement Of Cessation As Chief Executive Officer
Oct 21, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Oct 21, 2024 20:37 |
| Status | New |
| Announcement Sub Title | Cessation as Chief Executive Officer |
| Announcement Reference | SG241021OTHR3PH8 |
| Submitted By (Co./ Ind. Name) | Pierre Prunier |
| Designation | Executive Director and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Cessation as Chief Executive Officer - Mr Pierre Prunier 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 | Prunier Pierre Olivier Marc Yves |
| Age | 44 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 21/10/2024 |
| Detailed Reason (s) for cessation | Following an internal strategic deliberation of the Group's direction, Mr Prunier Pierre Olivier Marc Yves ("Mr Pierre Prunier") has notified the Board of Directors (the "Board") of his decision to relinquish his role and responsibilities as Chief Executive Officer ("CEO") of the Company, with effect from 21 October 2024. He will remain as an Executive Director of the Company to focus on the day to day operations of the Group. For the avoidance of doubt, Mr Pierre Prunier continues to extend to the Company, the working capital loan of up to S$500,000 as announced on 5 September 2024, which has been drawn down fully to as at the date of this announcement. Mr. Pierre Prunier reserves the right to request repayment in the future, should it be necessary. The Company's sponsor, SAC Capital Private Limited, after having interviewed Mr Pierre Prunier, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the re-designation of Mr Pierre Prunier from Executive Director and CEO to Executive 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 | 06/04/2021 |
| 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) | 2 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 3 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Director and Chief Executive Officer |
| Role and responsibilities | Executive. Mr Pierre Prunier is responsible for the Group's overall business, strategic direction and planning, investment, acquisition, partnership, and daily operations. |
| 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 Pierre Prunier is deemed to be interested in 165,112,600 ordinary shares registered in the name of a nominee account of DBS Nominees Pte. Ltd. He also holds 13,200,000 share options under the Company's Employee Share Option Scheme 2021. |
| Past (for the last 5 years) | 1. Alectrona Pte. Ltd. (Non-Executive) 2. Chew & Cheng Pte. Ltd. (Non-Executive)* 3. Duta Holdings LLC (Non-Executive) 4. IZY Dining and Bar Pte. Ltd. (Non-Executive) 5. IZY Fook Pte. Ltd. (Non-Executive) 6. IZY Sushi Pte. Ltd. (Non-Executive) 7. Licker and Sake Pte. Ltd. (Non-Executive) 8. Royal Coffee Investment Pte Ltd (Non-Executive)* *The Company has been struck off. |
| Present | 1. Duta Holdings Pte. Ltd. (Non-Executive) 2. GenesisPro Pte. Ltd. (a subsidiary of the Group) 3. International Biometrics Pte. Ltd. (a subsidiary of the Group) 4. Nature's Vault Pte. Ltd. (Non-Executive) 5. Nature's Vault (Singapore) Pte. Ltd. (Non-Executive) 6. Newbury Pte. Ltd. (Non-Executive) 7. Plum and Toro Pte. Ltd. (Non-Executive) 8. Prundjaya Capital Pte. Ltd. (Non-Executive) 9. PT. Griya Sira Indah (Non-Executive) 10. PT. Wahana Newbury Sira (Non-Executive) 11. Sawa EcoSolutions Pte. Ltd. (Non-Executive) 12. TECH 5 SA (an associated company of the Group) 13. TOTM Tech SG Pte. Ltd. (a subsidiary of the Group) 14. TOTM Tech India Private Limited (a subsidiary of the Group) |