| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Oct 29, 2024 17:25 |
| Status | New |
| Announcement Sub Title | Retirement of Independent Director |
| Announcement Reference | SG241029OTHR1X5G |
| Submitted By (Co./ Ind. Name) | Adrian Chan Pengee |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Independent Director |
| Additional Details | |
| Name Of Person | Michael Grenville Gray |
| Age | 78 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/10/2024 |
| Detailed Reason (s) for cessation | Mr Michael Grenville Gray ("Mr Gray") has decided to retire and not seek re-election to facilitate the renewal and sustainability process of the Board. The Board of Directors wishes to record its appreciation to Mr Gray for his contribution to the Company over the years. For the purposes of Board renewal, Mr Giang Sovann was elected at the annual general meeting of the Company held on 29 October 2024 as a non-executive independent director 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? | Yes |
| If Yes, Please provide full details | Independent Directors make up at least one-third of the board, taking into account the cessation of appointment of Mr Gray. |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 30/10/2006 |
| 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 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Director and Chairman of the Audit and Risk Committee and member of the Remuneration and Nominating Committees |
| Role and responsibilities | Roles and responsibilities of a Lead Independent Director and Chairman of the Audit and Risk Committee and member of the Remuneration and Nominating Committees |
| 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? | Yes |
| Shareholding Details | Direct interest in 870,000 ordinary shares in the Company |
| Past (for the last 5 years) | (excluding Subsidiaries and Associates of the Company) GSH Corporation Limited |
| Present | Listed Companies (excluding the Company) FSL Trust Management Pte Ltd Other Non-Listed Companies (excluding Subsidiaries and Associates of the Company NIL |