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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 27, 2020 20:46 |
| Status | New |
| Announcement Sub Title | Retirement of Independent Non-Executive Director - Hong Chin Fock |
| Announcement Reference | SG200327OTHRXSAL |
| Submitted By (Co./ Ind. Name) | Wong Teek Son |
| Designation | Executive Chairman & Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Independent Non-Executive Director at the forthcoming Annual General Meeting ("AGM"). |
| Additional Details | |
| Name Of Person | Hong Chin Fock |
| Age | 71 |
| Is effective date of cessation known? | No |
| If No, please advise when the date will be announced | Please refer to the Notice of AGM for effective date of retirement. |
| Detailed Reason (s) for cessation | Mr Hong Chin Fock is not seeking re-election and will retire as Independent Non-Executive Director of the Company after the conclusion of the AGM as part of board rejuvenation, having served on the Board for more than 9 years. Accordingly, Mr Hong Chin Fock will relinquish his position as Chairman of Remuneration Committee ("RC"), Member of the Audit Committee ("AC") and Nominating Committee ("NC"). |
| 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 | 02/10/2006 |
| 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) | 2 |
| 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 Non-Executive Director, Chairman of the RC, Member of the AC and NC. |
| Role and responsibilities | Fulfilling the responsibilities of an Independent Non-Executive Director |
| 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 | Mr Hong Chin Fock holds 480,000 ordinary shares in the Company |
| Past (for the last 5 years) | Shared Services for Charities Limited |
| Present | Gigamedia Limited Prima Limited Binjaitree Limited Chailease Holding Company Limited |