IR/Media Enquiries
WER1 CONSULTANTS PTE LTD
3 Phillip Street #12-01
Royal Group Building
Singapore 048693
Tel: (65) 6737 4844
Fax: (65) 6737 4944
Email: info@wer1.net
News
Change - Announcement Of Cessation Of Executive Director
BackDec 15, 2017
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Dec 15, 2017 18:58 |
| Status | New |
| Announcement Sub Title | ANNOUNCEMENT OF CESSATION OF EXECUTIVE DIRECTOR |
| Announcement Reference | SG171215OTHRMNQA |
| 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 EXECUTIVE DIRECTOR |
| Additional Details | |
| Name Of Person | CHEUNG KAM WA |
| 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, Mdm Cheung Kam Wa ("Mdm Cheung") has voluntarily stepped down as an 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. Subsequent to ceasing to be an Executive Director of the Company, Mdm Cheung will continue to carry out her responsibilities as the Chief Operating Officer 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? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 14/11/2012 |
| 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 | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | EXECUTIVE DIRECTOR |
| Role and responsibilities | EXECUTIVE - ASSIST THE CEO IN THE DAY TO DAY OPERATIONS OF THE COMPANY AND ITS SUBSIDIARIES |
| 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 | 145,916 ordinary shares in Sapphire Corporation Limited |
| Past (for the last 5 years) | Nil |
| Present | NGSC Limited (previously known as Next-Generation Satellite Communications Limited) |