Change - Announcement Of Resignation Of Non-Executive Director - Mr Sim Geok Soon

Sep 29, 2017
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Sep 29, 2017 23:09
Status New
Announcement Sub Title Resignation of Non-Executive Director - Mr Sim Geok Soon
Announcement Reference SG170929OTHRSKQ0
Submitted By (Co./ Ind. Name) Qian Zimin
Designation Chief Executive Officer
Description (Please provide a detailed description of the event in the box below) This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "Exchange"). The Company's Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the Exchange and the Exchange 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 Mr. Ong Hwee Li (Telephone: +65-6532 3829) at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542. SAC Capital Private Limited is the parent company of SAC Advisors Private Limited.
Additional Details
Name Of Person Sim Geok Soon
Age 57
Is effective date of cessation known? Yes
If yes, please provide the date 30/09/2017
Detailed Reason (s) for cessation There has been a change in Controlling Shareholder of the Company, and as a result, a change to the composition of the Board. Mr Sim's resignation from the Board of Directors is to facilitate the appointment of new Board Members nominated by the new Controlling Shareholder, Yinda Pte. Ltd..
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? Yes
If Yes, Please provide full details Following the retirement of Mr Hans Jakob Hinrichsen as an Independent Director of the Company (on 21 September 2017), the Audit Committee will be unable to meet the minimum requirement under Catalist Rule 704(7). The Board and Nominating Committee will be appointing a suitable candidate to satisfy the requirements on the minimum number of having not less than three (3) Audit Committee members within two (2) months, but in any case not later than three (3) months from 21 September 2017, pursuant to Catalist Rule 704(7).
Date of Appointment to current position 14/07/2015
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) 3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 8
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Non-Executive Director
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 N.A.
Shareholding interest in the listed issuer and its subsidiaries? Yes
Shareholding Details 40,000 ordinary shares in Yinda Infocomm Limited.
Past (for the last 5 years) Interlift Sales Pte. Ltd.
Present TEE Philippines, Inc.
Trans Equatorial Engineering Pte. Ltd.