Change - Announcement Of Cessation :: Resignation Of Chief Investment Officer

News Change - Announcement Of Cessation :: Resignation Of Chief Investment Officer

BackApr 30, 2021

Announcement Title	Change - Announcement of Cessation
Date & Time of Broadcast	Apr 30, 2021 8:22
Status	New
Announcement Sub Title	Resignation of Chief Investment Officer
Announcement Reference	SG210430OTHRLKS7
Submitted By (Co./ Ind. Name)	Ma Ming
Designation	Executive Director
Description (Please provide a detailed description of the event in the box below)	Resignation of Chief Investment Officer
Additional Details
Name Of Person	Chen Kai
Age	47
Is effective date of cessation known?	Yes
If yes, please provide the date	30/04/2021
Detailed Reason (s) for cessation	As disclosed in the Company's announcement in connection with the satisfaction of certain conditions precedent to payment of the tranche 1 consideration for the proposed disposal of the Group's entire manufacturing and services business through the sale of the entire issued and paid-up share capital (the 'Sale Shares') of Sunpower Technology (Jiangsu) Co., Ltd., an indirect wholly-owned subsidiary of the Company, the completion of the registration of the full legal title to the Sale Shares in the name of Nanjing Sunpower Holdings Co., Ltd, being the purchaser of the Sale Shares (the 'Purchaser'), has been completed. As disclosed in the circular dispatched to the Company's shareholders on March 31, 2021 (the 'Circular'), in connection with the Proposed Disposal, Mr. Chen, will be joining the Purchaser from April 30, 2021 and as such, has therefore resigned from the position of Chief Investment Officer. Further information in relation to the cessation is contained in the Circular.
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	05/09/2017
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	2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)	Chief Investment Officer
Role and responsibilities	Mr. Chen assists the Group in making investment decisions and also supervises investor relations
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries	None
Shareholding interest in the listed issuer and its subsidiaries?	Yes
Shareholding Details	As at the date of the announcement, Mr. Chen holds 500,000 ordinary shares in the Company.
Past (for the last 5 years)	Director, Hebei Changrun Environmental Ltd. Director, Lianshui Sunpower Clean Energy Co., Ltd. Director, Jining Mining Industry Sunpower Clean Energy Development Co., Ltd.
Present	None