Announcements
Change - Announcement Of Resignation Of Executive Director And Chief Executive Officer
May 28, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | May 28, 2025 21:07 |
| Status | New |
| Announcement Sub Title | Resignation of Executive Director and Chief Executive Officer |
| Announcement Reference | SG250528OTHR3W4D |
| Submitted By (Co./ Ind. Name) | Pierre Prunier |
| Designation | Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Executive Director and Chief Executive Officer - Irawan Mulyadi 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, #21-01 AIA Tower, Singapore 048542. |
| Additional Details | |
| Name Of Person | Irawan Mulyadi |
| Age | 53 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 27/05/2025 |
| Detailed Reason (s) for cessation | Mr Irawan Mulyadi ("Mr Irawan") has tendered his resignation as an Executive Director and Chief Executive Officer ("CEO") of the Company with effect from 27 May 2025 to facilitate Board and management renewal having considered the requisition notice dated 7 May 2025. The Company received his resignation letter in the late evening of 27 May 2025. Mr Irawan remains a Commissioner of PT International Biometrics Indonesia, a wholly-owned subsidiary of the Company. Mr. Irawan's six-month notice period as CEO has been mutually waived by both parties. His resignation is effective as of May 27, 2025. In the interim, the management team will be led by Mr Pierre Prunier, Executive Director of the Company while the Board searches for a suitable replacement. In light of the resignations of Mr Irawan, Mr Phang Yew Kiat and Dhanie Tri Indrasto, details of which are set out in separate announcements released on SGXNet on 28 May 2025 in accordance with Rule 704(6)(a) of the Listing Manual Section B: Rules of Catalist of the SGX-ST ("Catalist Rules"), the remaining members of the Board comprises of 1 Executive Director and 1 Independent Director. The remaining members of the Board will endeavour to appoint additional members to the Board to comply with Rule 406(3)(c) and Rule 704(7) of the Catalist Rules within two months, but in any case not later than three months. The Company's Sponsor, SAC Capital Private Limited, after having interviewed Mr Irawan, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Irawan as Executive Director and Chief Executive Officer 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? | Yes |
| If Yes, Please provide full details | Mr Irawan would like to bring to shareholders' attention that there are current ongoing government projects which he has been spearheading since his appointment as CEO in October 2024 and his departure may potentially cause disruptions to the said projects. |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 22/10/2024 |
| 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 | 7 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Director and Chief Executive Officer |
| Role and responsibilities | Overseeing the Company's overall operations and strategic direction. |
| 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? | Yes |
| Shareholding Details | Mr. Irawan is deemed to be interested in 26,214,297 ordinary shares, representing 1.92% of the total issued share capital of the Company. He also holds 5,000,000 share options granted under the Company's Employee Share Option Scheme 2021. |
| Past (for the last 5 years) | PT. International Biometrics Indonesia |
| Present | 1. Asa Ren Pte Ltd 2. PT. Bukit Jimbaran Lestari 3. PT. Interaktif Seluler Indonesia 4. Nature's Vault (Singapore) Pte Ltd 5. Nature's Vault Pte. Ltd. 6. PT. Legasi Alam Indonesia 7. PT. Qualysoft Center of Excellence 8. Travel Square 9. PT. Terra Lentera Asia 10. PT. WAN Solutions 11. PT. Widtech Indonesia 12. Sawa Ecosolutions Pte. Ltd. 13. Ajari Technologies Pte. Ltd. 14. PT. Adhya Java Royal 15. PT. Manusia Titisan Dewa 16. PT. Cantika Abadi 17. PT. Semesta Tekno Indoraya 18. PT. Teknologi GoVirtual Indonesia 19. PT. Royal Pilar Capital 20. PT. Pathgen Diagnostik Teknologi 21. PT. Barata Sentosa Kencana |