Change - Announcement Of Cessation :: Cessation Of Independent Director

News Change - Announcement Of Cessation :: Cessation Of Independent Director

BackApr 07, 2022

Announcement Title	Change - Announcement of Cessation
Date & Time of Broadcast	Apr 7, 2022 22:34
Status	New
Announcement Sub Title	Cessation of Independent Director
Announcement Reference	SG220407OTHRPAKK
Submitted By (Co./ Ind. Name)	Ho Kok Weng
Designation	Chief Financial Officer and Company Secretary
Description (Please provide a detailed description of the event in the box below)	Cessation of Mr Ning Jincheng as an Independent Director of the Company.
Additional Details
Name Of Person	Ning Jincheng
Age	65
Is effective date of cessation known?	Yes
If yes, please provide the date	29/04/2022
Detailed Reason (s) for cessation	Mr Ning Jincheng will retire as Director pursuant to Article 86 of the Company's Constitution at the conclusion of the forthcoming AGM to be convened on 29 April 2022. Mr Ning who has served on the Board for more than 9 years, has indicated that he will not be seeking re-election so as to comply with the Code of Corporate Governance, which, unless otherwise adequately explained by the Board, deems any independent director who serves for an aggregate period of more than 9 years to be not independent.
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	09/12/2005
Does the AC have a minimum of 3 members (taking into account this cessation)?	No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)	2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)	Independent Director, Chairman of the Nominating Committee, a member of the Audit Committee and a member of the Remuneration Committee
Role and responsibilities	Assumed the roles and responsibilities of an Independent Director, Chairman of the Nominating Committee, a member of the Audit Committee and a member of the Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries	No.
Shareholding interest in the listed issuer and its subsidiaries?	No
Past (for the last 5 years)	Central China Securities Co Ltd (Listed on both Hong Kong Stock Exchange and Shanghai Stock Exchange) Position held: Independent Director
Present	Yutong Heavy Industries CO.,LTD. (Listed on Shanghai Stock Exchange) Position held: Independent Director