Announcements
Change - Announcement Of Resignation Of Independent Non-Executive Chairman
Nov 18, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Nov 18, 2024 19:35 |
| Status | New |
| Announcement Sub Title | Resignation of Independent Non-Executive Chairman |
| Announcement Reference | SG241118OTHRMSGK |
| Submitted By (Co./ Ind. Name) | Irawan Mulyadi |
| Designation | Executive Director and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Independent Non-Executive Chairman - Low Chai Chong 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 | Low Chai Chong |
| Age | 62 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 18/11/2024 |
| Detailed Reason (s) for cessation | Mr Low Chai Chong ("Mr Low") had on 18 November 2024, tendered his resignation as Independent Non-Executive Chairman to facilitate Board renewal. The Nominating Committee and Board of Directors have accordingly accepted Mr Low's resignation with effect from the same date. Following Mr Low's resignation as the Independent Non-Executive Chairman of the Company, he will also relinquish his positions as Chairman of the Nominating Committee and Remuneration Committee, as well as member of the Audit Committee of the Company. The Company's Sponsor, SAC Capital Private Limited, after having interviewed Mr Low, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Low as Independent Non-Executive Chairman of the Company. The Company is currently looking for a suitable replacement and will keep the shareholders updated. |
| 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 | 25/04/2022 |
| 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) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 4 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Non-Executive Chairman Chairman of Nominating Committee Chairman of Remuneration Committee Member of Audit Committee |
| Role and responsibilities | Provide leadership to the Board, ensuring its effectiveness in all aspects of governance and strategy. |
| 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? | No |
| Past (for the last 5 years) | 1. Moya Holdings Asia Limited 2. OIO Holdings Limited 3. Pollux Properties Limited |
| Present | 1. Capital World Limited 2. Eneco Energy Limited 3. Dentons Rodyk & Davidson LLP 4. Rodyk Services Private Limited 5. Rodyk & Davidson I.P. Services Sdn Bhd 6. Moya Indonesia Holdings Pte Ltd |