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Change - Announcement Of Retirement Of Executive Director And Resignation Of Chief Excuetive Officer ("CEO")
BackJan 27, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 27, 2025 23:31 |
| Status | New |
| Announcement Sub Title | RETIREMENT OF EXECUTIVE DIRECTOR AND RESIGNATION OF CHIEF EXCUETIVE OFFICER ("CEO") |
| Announcement Reference | SG250127OTHRZWKU |
| Submitted By (Co./ Ind. Name) | Guo Jinyao Keith |
| Designation | Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Please refer to the information below. This announcement has been reviewed by the Company's Sponsor, W Capital Markets 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 Ms Alicia Chang at 65 Chulia Street, #43-01, OCBC Centre, Singapore 049513, telephone (65) 6513 3525. |
| Additional Details | |
| Name Of Person | Lim Say Chin |
| Age | 62 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 27/01/2025 |
| Detailed Reason (s) for cessation | Mr Lim Say Chin ("Mr Lim"), who was retiring pursuant to Regulation 108 of the Company's Constitution, did not stand for re-election at the Company's Annual General Meeting ("AGM") held on 27 January 2025, and retired as an Executive Director of the Company at the conclusion of the Company's AGM. On 27 January 2025, Mr Lim also tendered his resignation as CEO of the Company to focus on his personal and family commitments. Mr Lim will continue to serve as CEO during the notice period until his resignation takes effect and a separate announcement will be made by the Company on his effective date of cessation as CEO once it has been finalised. The Board has identified a potential candidate to take over Mr Lim's duties as CEO, and will make the necessary announcement once the appointment is finalised. The Company would like to express its gratitude and appreciation towards Mr Lim's valuable contributions to the Board during his tenure. 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 cessation of Mr Lim as Executive Director and CEO 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 | 22/12/2015 |
| 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 and CEO |
| Role and responsibilities | Mr Lim overseas the project management, contract and procurement activities, human resources & admin and quality, environment, health and safety department of the Group. |
| 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 | 6,700,000 Shares in AcroMeta Group Limited (Direct Interest) |
| Past (for the last 5 years) | Nil |
| Present | Nil |