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News - Detailed News Story

CFM: Change - Announcement of Cessation :: RETIREMENT OF MR. ROSS YU LIMJOCO AS A DIRECTOR

28 Oct 2021 21:49

Change - Announcement of Cessation :: RETIREMENT OF MR. ROSS YU LIMJOCO AS A DIRECTOR

Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Oct 28, 2021 21:49
Status New
Announcement Reference SG211028OTHR4FIS
Submitted By (Co./ Ind. Name) Tan Wee Sin
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) Mr. Ross Yu Limjoco retired at the conclusion of the Annual General Meeting held on 28 October 2021.

This announcement has been reviewed by the Company's Sponsor, Asian Corporate Advisors Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Ms Foo Quee Yin, at 160 Robinson Road, #21-05 SBF Center, Singapore 068914,
Telephone number: 6221 0271
Additional Details
Name Of Person Ross Yu Limjoco
Age 51
Is effective date of cessation known? Yes
If yes, please provide the date 28/10/2021
Detailed Reason (s) for cessation Mr. Ross Yu Limjoco was not re-elected as a Director of the Company at the Annual General Meeting held on 28 October 2021 and retire as a Director upon conclusion of the Annual General Meeting.

After having interviewed Mr. Ross and to the best of its knowledge, the Sponsor is satisfied that save as disclosed in this announcement, there are no other material reasons for the retirement of Mr. Ross as an Independent Director 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 In the course of sourcing for an additional independent director to be appointed to the Board to act as lead independent director, several candidates were nominated by the management. The Nominating Committee assessed these candidates and was of the view that only one may be suitable for appointment as lead independent director, and discussed the candidate with the sponsors. However, after discussions, the Nominating Committee was of the view that it would be preferable to source for alternate candidates. After this position was conveyed to the management, I was asked to step down.

I note that the legal and the financial due diligence into the Company's acquisition of shares in SING-SWE MM Biotechnology Pte. Ltd. are ongoing. In course of the due diligence, various queries and requests for clarifications were raised by the independent directors in respects of the draft reports. The due diligence are still on-going and therefore the queries and requests are being attended to by the Company and the appointed professionals.
Any other relevant information to be provided to shareholders of the listed issuer? No
Date of Appointment to current position 19/07/2019
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 1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Independent Director, Chairman of the Remuneration Committee and a member of the Nominating Committee and Audit Committee.
Role and responsibilities Independent Director of the Company.
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) 8Telecom Inti Holdings Co Ltd.
Hubei Zhonglianhuan Energy
Investment Management Inc.
(China Company) (subsidiary of
Ipco International Limited (listed in Singapore)
IPCO Constructors Private Limited
Friendship Bridge Holding
Company Private Limited
Nueviz Investments Private Limited
Gulf Asia Holdings Ltd (Incorp in Labuan)
JC Canyon Insurance Services Pte Ltd
Prospect 33 Pte Ltd
Ministry of Nano Technology Pte Ltd
Myanmar Imperial Marble & Granite Pte Ltd (Struck Off)
Sino Gas Holdings Pte Limited
Kennemer Holdings Pte. Ltd.
Renaissance United Limited
China Supply Chain Holdings
Limited (Listed on Main board
of Hong Kong Exchange and
Clearing Limited)
Present Chief Financial Officer, North Star Security Pte Ltd
MH Development Ltd Listed on
Main board of Hong Kong Exchange and Clearing Limited (fka Camsing International Holdings Ltd)
Anchorage Consulting Private
TMS Capital Advisory Ltd (Incorp in BVI)
EMFrenquency Solutions Pte Ltd
Weinstenier Private Limited
Thalesmead Global Pte Ltd
A Best Trade Private Limited
Quantaplex Solutions Pte Ltd
CFM Holdings Limited
Ouhua Energy Holdings Limited
(Incop in Bermuda)
A15 Pte Ltd
Beacon Management Advisory
Private Limited
Codelco Singapore Pte. Ltd.
DWS Offshore Pte. Ltd.
Global Payments and E-commerce Distribution Pte. Ltd.
GSC (SEA) Pte. Ltd.
Kennemer Eco Solutions Pte. Ltd.
Lycamobile Pte. Ltd.
MBA Consult Pte. Ltd.
Papuruhato Trading Private
QTIA Global Pte. Ltd.
Singapore King-Label Holding
Pte. Ltd.
YSH Technology Private Limited.
Promin Resource Holdings Pte. Ltd.
Three Crowns (Services) Pte. Ltd.
Source: SGXNet

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