News

Change - Announcement Of Retirement Of Lead Independent Director

BackJul 10, 2024
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Jul 10, 2024 18:40
Status New
Announcement Sub Title Retirement of Lead Independent Director
Announcement Reference SG240710OTHR6078
Submitted By (Co./ Ind. Name) Dr. Terence Tea Yeok Kian
Designation Executive Chairman and Managing Director
Description (Please provide a detailed description of the event in the box below) Retirement of Lead Independent Director

This announcement has been reviewed by the Company's sponsor, RHT Capital 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 document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Joseph Au at 36 Robinson Road, #10-06 City House, Singapore 068877, Email: sponsor@rhtgoc.com.
Additional Details
Name Of Person Ng Li Yong
Age 52
Is effective date of cessation known? Yes
If yes, please provide the date 31/07/2024
Detailed Reason (s) for cessation To support progressive renewal of the Board and for good corporate governance, Mr Ng Li Yong ("Mr Ng") will not be seeking re-election and will retire as the Lead Independent Director of the Company at the close of forthcoming annual general meeting of the Company after having served on the Board for an aggregate period of more than 9 years. Upon his retirement, Mr Ng will step down from his position as the Lead Independent Director, Chairman of the Nominating Committee and Remuneration Committee, and a member of the Audit Committee of the Company.

In view of Mr Ng's retirement, the positions of Chairman of the Nominating Committee and Remuneration Committee will become vacant until the appointment of a new Chairman of the Nominating Committee and Remuneration Committee by the Board as soon as practicable.

Based on its enquiries 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 Ng.

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 11/06/2013
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 2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Lead Independent Director, Chairman of the Nominating Committee and Remuneration Committee, and a member of the Audit 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
Past (for the last 5 years) C&G Environmental Protection Holdings Limited
Present WNLEX LLC