Sapphire Corporation Ltd



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

BackDec 15, 2017
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Dec 15, 2017 18:58
Status New
Announcement Reference SG171215OTHRWZQX
Submitted By (Co./ Ind. Name) Gwendolyn Gn Jong Yuh
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) ANNOUNCEMENT OF CESSATION OF NON-INDEPENDENT NON-EXECUTIVE DIRECTOR
Additional Details
Name Of Person YANG JIAN
Age 53
Is effective date of cessation known? Yes
If yes, please provide the date 15/12/2017
Detailed Reason (s) for cessation As stated in Note 10 of the Company s 3QFY2017 Results Announcement and Press Release dated 13 November 2017, some of the existing Directors of the Company intend to voluntarily step down to facilitate a board renewal upon the completion of a proposed acquisition of a 27.97%-stake in the company by Hong Kong International Construction Investment Management Group Co., Limited (the "Transaction"). In line with the foregoing, Mr Yang Jian has voluntarily stepped down as Non-Independent Non-Executive Director ahead of completion of the Transaction. For the avoidance of doubt, there is no completion of the Transaction as at the date of this announcement.
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 20/07/2009
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) 3
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.) NON-EXECUTIVE DIRECTOR, RC MEMBER
Role and responsibilities NON-EXECUTIVE DIRECTOR
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? Yes
Shareholding Details 734,139 ordinary shares in Sapphire Corporation Limited
Past (for the last 5 years) Nil
Present 1. Tranvic Group
2. Trisonic International Ltd