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Announcement Title | Change - Announcement of Cessation |
Date & Time of Broadcast | Dec 15, 2017 18:58 |
Status | New |
Announcement Sub Title | ANNOUNCEMENT OF CESSATION OF NON-EXECUTIVE AND INDEPENDENT DIRECTOR |
Announcement Reference | SG171215OTHRZ1G9 |
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-EXECUTIVE AND INDEPENDENT DIRECTOR |
Additional Details | |
Name Of Person | TAO YEOH CHI |
Age | 65 |
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 Tao Yeoh Chi has voluntarily stepped down as Non-Executive Independent 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 | 01/10/2013 |
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) | 2 |
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 3 |
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | NON-EXECUTIVE AND INDEPENDENT DIRECTOR / CHAIRMAN OF RC, AC MEMBER AND NC MEMBER |
Role and responsibilities | NON-EXECUTIVE INDEPENDENT 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 | 147,312 ordinary shares in Sapphire Corporation Limited |
Past (for the last 5 years) | 1. Hanwell Holdings Limited 2. Next-Generation Satellite Communications Limited 3. Cedar Strategic Holdings Ltd 4. PSC Resort Pte. Ltd. 5. Jinri Technology Pte. Ltd. 6. Eratat Lifestyle Investment Holding Pte. Ltd. 7. Eratat Lifestyle Limited |
Present | 1. Singapore Edevelopment Limited 2. UON Singapore Pte. Ltd. 3. Infinita Energia Pte. Ltd. 4. Global Resources & Consultants Pte. Ltd. 5. ST Telecommunications (Beijing) Co., Ltd. |