Change - Announcement Of Cessation Of Lead Independent Director
BackJul 13, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jul 13, 2022 18:30 |
| Status | New |
| Announcement Sub Title | ANNOUNCEMENT OF CESSATION OF LEAD INDEPENDENT DIRECTOR |
| Announcement Reference | SG220713OTHRFTEB |
| Submitted By (Co./ Ind. Name) | Yeo Hui Leng |
| Designation | Group General Counsel and Company Secretary |
| Effective Date and Time of the event | 30/09/2022 17:00:00 |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Lead Independent Director. |
| Additional Details | |
| Name Of Person | Teo Ser Luck |
| Age | 54 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 30/09/2022 |
| Detailed Reason (s) for cessation | Due to increase in business, service and a potential joint venture deal with the Company which may put him in a position of conflict, Mr Teo Ser Luck has decided he will step down as the Lead Independent Director, Chairman of the Remuneration Committee, member of the Audit Committee and member of the Nominating Committee 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 | 31/12/2020 |
| 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) | 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 (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Director, Chairman of the Remuneration Committee, member of the Audit Committee and member of the Nomination Committee. |
| Role and responsibilities | Responsibilities as Lead Independent Director, Chairman of the Remuneration Committee, member of the Audit Committee and member of the Nomination Committee. |
| 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) | 1) United Engineers Limited 2) F4U Pte Ltd 3) Vicduo Pte Ltd 4) Nufin Data Pte Ltd 5) Nufund Pte Ltd 6) Helicap Pte Ltd 7) 2YSL Pte Ltd |
| Present | 1) Yanlord Land Group Limited 2) Straco Corporation Limited 3) China Aviation Oil (Singapore) Corporation Ltd 4) BRC Asia Limited 5) Serial Systems Limited |