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    5RC   SG2B91959363

ES GROUP (HOLDINGS) LIMITED

(5RC)
  Report
Delayed Singapore Stock Exchange  -  10:47 2022-06-28 pm EDT
0.0490 SGD    0.00%
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ES : Resignation Of Mr. Teh Teong Lay As Financial Controller Of The Company

08/31/2021 | 06:52am EDT

CHANGE - ANNOUNCEMENT OF CESSATION::RESIGNATION OF MR. TEH TEONG LAY AS FINANCIAL CONTROLLER OF THE COMPANY

Issuer & Securities

Issuer/ Manager

ES GROUP (HOLDINGS) LIMITED

Securities

ES GROUP (HOLDINGS) LIMITED - SG2B91959363 - 5RC

Stapled Security

No

Announcement Details

Announcement Title

Change - Announcement of Cessation

Date &Time of Broadcast

31-Aug-2021 18:36:47

Status

New

Announcement Sub Title

Resignation of Mr. Teh Teong Lay as Financial Controller of the Company

Announcement Reference

SG210831OTHRRYQP

Submitted By (Co./ Ind. Name)

ADRIAN CHAN PENGEE

Designation

COMPANY SECRETARY

Description (Please provide a detailed description of the event in the box below)

Resignation of Mr. Teh Teong Lay as Financial Controller of the Company.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Goh Mei Xian, Associate Director, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person

TEH TEONG LAY

Age

48

Is effective date of cessation known?

Yes

If yes, please provide the date

01/12/2021

Detailed Reason (s) for cessation

Mr. Teh Teong Lay ("Mr. Teh") had, on 24 August 2021, tendered his resignation as Financial Controller of the Company with effect from 1 September 2021, to pursue other career opportunities.

Mr. Teh will be serving his three-month notice period pursuant to his service contract with the Company with effect from 1 September 2021 and his last day of employment with the Company will be 30 November 2021. For the avoidance of doubt, Mr. Teh will remain as the Financial Controller of the Company, and will continue to ensure smooth functioning of the operations of the finance team of the Group, until the effective date of his resignation (i.e. 1 December 2021).

The Company is in the process of finding a replacement for the position of Financial Controller or equivalent, and will make the necessary announcement when a suitable candidate is appointed.

The Company's Sponsor, after having interviewed Mr. Teh, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Teh as Financial Controller of the Company.

In addition, there are no concerns with regards to financial reporting that led to the resignation of Mr. Teh and there are no disagreements between Mr. Teh and the Board of Directors of the Company with regards to practices that would have an impact to the Company's and the Group's financial reporting.

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

18/07/2019

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

0

Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)

Financial Controller.

Role and responsibilities

Responsible for overseeing the Group's accounting and finance functions, including taxation, treasury and compliance matters.

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?

No

Past (for the last 5 years)

Director, Luxinity Pte Ltd (struck off)

Director, Semua Ship Agency & Supplies Pte Ltd (struck off)

Present

Nil

Disclaimer

ES Group (Holdings) Limited published this content on 31 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2021 10:51:02 UTC.


© Publicnow 2021
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Sales 2021 20,9 M 15,0 M 15,0 M
Net income 2021 -6,02 M -4,32 M -4,32 M
Net cash 2021 1,07 M 0,77 M 0,77 M
P/E ratio 2021 -1,48x
Yield 2021 -
Capitalization 6,92 M 4,97 M 4,97 M
EV / Sales 2020 -0,22x
EV / Sales 2021 0,37x
Nbr of Employees 426
Free-Float 14,4%
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