Change - Announcement Of Cessation Of Independent And Non-Executive Director

BackMar 26, 2024
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Mar 26, 2024 20:35
Status New
Announcement Sub Title Cessation of Independent and Non-Executive Director
Announcement Reference SG240326OTHRCL8L
Submitted By (Co./ Ind. Name) Dr. Terence Tea
Designation Executive Chairman and Managing Director
Description (Please provide a detailed description of the event in the box below) Please refer to the information below.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST").

This announcement has not been examined or approved by the SGX-ST and the SGX-ST 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 Joseph Au, Registered Professional, RHT Capital Pte. Ltd., 36 Robinson Road, #10-06 City House, Singapore 068877,
Additional Details
Name Of Person Yeo Hwee Tiong
Age 67
Is effective date of cessation known? Yes
If yes, please provide the date 05/04/2024
Detailed Reason (s) for cessation To focus his effort to assist the management team of Cordlife Group Limited with their rectification plans on the non-compliance list issued by MOH. Please refer to announcement by Cordlife Group Limited to SGX-ST dated 22 March 2024 setting out information about the notice it received from the Commercial Affairs Department and the Monetary Authority of Singapore for more details.

The Company and Mr. Yeo Hwee Tiong ("Mr. Yeo") have on 23 March 2024, mutually agreed that Mr. Yeo will not be participating in any of the Company's matters from 23 March 2024 till his effective cessation date.

Following Mr. Yeo's resignation, he will relinquish his position as Independent Board Member, and member of Audit Committee and Remuneration Committee.

Based on its enquiries and to the best of its knowledge, the Sponsor is satisfied that, saved as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Yeo as the Independent and Non-Executive Director of the Company.

The Company will be assessing suitable candidates to fill the vacancy to meet the minimum number of members within the Audit Committee of the Company pursuant to the Catalist Rules.
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 01/07/2023
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 and Non-Executive Director, member of Audit Committee and Remuneration Committee
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 None
Shareholding interest in the listed issuer and its subsidiaries? No
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