Change - Announcement of Cessation::Cessation of Independent Non-Executive Director
Issuer & Securities
Issuer/ ManagerMERCURIUS CAP INVESTMENT LTDSecuritiesMERCURIUS CAP INVESTMENT LTD - SG2B96959558 - 5RF
Announcement Title Change - Announcement of CessationDate &Time of Broadcast 26-Nov-2021 18:44:03Status NewAnnouncement Sub TitleCessation of Independent Non-Executive DirectorAnnouncement ReferenceSG211126OTHR2ZWCSubmitted By (Co./ Ind. Name)Chang Wei LuDesignationExecutive Chairman and Chief Executive OfficerDescription (Please provide a detailed description of the event in the box below)Cessation of Independent Non-Executive Director.
This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "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 Mr. Pong Chen Yih, Chief Operating Officer, 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone (65) 6950 2188.
Name Of PersonChieng You PingAge64Is effective date of cessation known?YesIf yes, please provide the date01/12/2021Detailed Reason (s) for cessationMr. Chieng You Ping ("Mr. Chieng") has informed the Company of his decision to resign due to health reasons.
Based on its enquiries and to the best of its knowledge, the Company's sponsor, Novus Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr. Chieng as the Independent Non-Executive Director of the Company.
The Company is in the process of looking for a suitable candidate in place of Mr. Chieng and will make the necessary announcement to update the shareholders on the new appointment in due course.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?NoIs there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?NoAny other relevant information to be provided to shareholders of the listed issuer?YesIf Yes, Please provide full detailsIn view of Mr Chieng's resignation, the Company does not comply with Rule 704(7) of the Catalist Rules and the Companies Act, Chapter 50 of Singapore, where the Audit Committee of the Company should consist of a minimum number of three members. The Company will endeavour to fill the vacancy within two months, but in any case, no later than three months.
The Company will also endeavour to fill the vacancies in the Nominating Committee and Remuneration Committee as soon as possible.Date of Appointment to current position05/04/2017Does the AC have a minimum of 3 members (taking into account this cessation)?NoNumber of Independent Directors currently resident in Singapore (taking into account this cessation)2Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months1Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)Independent Non-Executive Director and a member of the Audit Committee, Remuneration Committee and Nominating CommitteeRole and responsibilitiesIndependent Non-Executive Director and a member of the Audit Committee, Remuneration Committee and Nominating CommitteeFamilial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiariesNoShareholding interest in the listed issuer and its subsidiaries?NoPast (for the last 5 years)Million Fuel Injection Pumps Service Sdn. Bhd.
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Mercurius Capital Investment Ltd. published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 10:59:07 UTC.