Sapphire Corporation Ltd



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

BackApr 03, 2018
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Apr 3, 2018 17:36
Status New
Announcement Reference SG180403OTHRMCIE
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 TEH WING KWAN
Age 46
Is effective date of cessation known? Yes
If yes, please provide the date 26/04/2018
Detailed Reason (s) for cessation Mr Teh Wing Kwan ("Mr Teh") will be retiring pursuant to Regulation 89 of the Company's Constitution. Mr Teh had decided not to seek for re-election in the upcoming Annual General Meeting on 26 April 2018 as a Non-Independent Non-Executive Director of the Company due to the following reasons:

1. On successful completion of the major corporate restructuring exercise and turnaround plans for Sapphire Corporation Limited as Group Chief Executive Officer ("CEO") and Managing Director from 3 October 2013 to 15 December 2017; and

2. To focus on his other on-going investments; and devote more time to his existing and anticipated corporate appointments.
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 03/10/2013
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) 1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) 3 Oct 2013 to 15 Dec 2017
- appointed as Group CEO and MD

15 Dec 2017 to 26 Apr 2018
- re-designated as Non-Independent Non-Executive Director
Role and responsibilities Mr Teh's strategic role and key responsibilities were corporate restructuring, corporate turnaround, business reorganisation and execution of other strategic plans as Group CEO and Managing Director from 3 October 2013 to 15 December 2017.

He resumed a non-executive role as Non-Independent Non-Executive Director from 15 December 2017 to 26 April 2018.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries Nil
Shareholding interest in the listed issuer and its subsidiaries? Yes
Shareholding Details 7,018,304 Ordinary Shares
Past (for the last 5 years) 1. Singapore eDevelopment Limited (previously known as CCM Group Limited)
2. Asian American Medical Group Limited (previously known as Asian Centre for Liver Diseases and Transplantation Limited)
3. ZH International Holdings Limited (previously known as Heng Fai Enterprises Limited)
4. Mancala Holdings Limited
5. Mancala Holdings Pty Ltd
6. Ranken Infrastructure Limited
7. Singapore Construction & Development Pte Ltd
8. Koda Woodcraft Sdn Bhd
9. Jatat Furniture Industries Sdn Bhd
10. Zenith Height Sdn Bhd
11. TWT Equity Pte Ltd
Present 1. China Vanadium Titano-Magnetite Mining Company Limited
2. Koda Ltd (Advisor to the Board)
3. National Land Investments Limited
4. BMI Capital Partners (Hong Kong) Limited
5. BMI Capital Partners Pte Ltd
6. Dominick & Dickerman International Company Limited
7. Raffles House Sdn Bhd