News
Change - Announcement Of Resignation Of Independent Director
BackDec 27, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Dec 27, 2022 18:32 |
| Status | New |
| Announcement Sub Title | RESIGNATION OF INDEPENDENT DIRECTOR |
| Announcement Reference | SG221227OTHR83LB |
| Submitted By (Co./ Ind. Name) | Mark Francis Bedingham |
| Designation | Executive Director, President and CEO |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Independent Director |
| Additional Details | |
| Name Of Person | Wee Sung Leng |
| Age | 57 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/01/2023 |
| Detailed Reason (s) for cessation | Mr Wee Sung Leng has served as Independent Director on the Board of the Company for an aggregate period of more than nine years and is resigning as part of the board renewal process. Following his resignation as an Independent Director, he will also be vacating his positions as Chairman of the Nominating Committee and the Remuneration Committee as well as member of the Audit 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 | 06/11/2013 |
| 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 | 3 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of Remuneration and Nominating Committee, and member of Audit Committee. |
| Role and responsibilities | Non-executive and Independent. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Wee Sung Leng holds 363,636 ordinary shares in the Company. |
| Past (for the last 5 years) | MoneyMax Financial Services Ltd. |
| Present | 1. Combine Will International Holdings Limited 2. Fortune Green Global Corp. 3. Hoe Leong Corporation Ltd. |