News
Change - Announcement Of Retirement Of Independent Director
BackApr 08, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 8, 2022 18:00 |
| Status | New |
| Announcement Sub Title | Retirement of Independent Director |
| Announcement Reference | SG220408OTHR7WMY |
| Submitted By (Co./ Ind. Name) | Tan Yong Chuan |
| Designation | Executive Director and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Independent Director at the Annual General Meeting |
| Additional Details | |
| Name Of Person | Lee Dah Khang |
| Age | 50 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/04/2022 |
| Detailed Reason (s) for cessation | Mr Lee will retire as Independent Director of the Company at the conclusion of the forthcoming Annual General Meeting scheduled to be held on 29 April 2022 and will not be seeking re-election. |
| 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 | 20/12/2017 |
| 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) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Director |
| Role and responsibilities | Mr Lee served as an Independent Director of the Company. His role is to exercise independence, objective judgement on business affairs of the Company. Together with other independent directors, they act as a check and balance on the Company's management. |
| 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 | Holds interest of 77,000 ordinary shares in LY Corporation Limited. |
| Past (for the last 5 years) | 1. GS Holdings Limited 2. Memiontec Holdings Ltd 3. Orion Management Consultants Pte Ltd |
| Present | 1. Acumen Consultants Pte Ltd 2. Alpine Advisory Pte Ltd 3. Orion BPO Pte Ltd 4. Orion Information Systems Pte Ltd 5. Yang Lee Consulting Pte Ltd |