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Change - Announcement Of Cessation Of Executive Director
BackOct 21, 2016
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | CESSATION OF EXECUTIVE DIRECTOR |
| Securities | NATURAL COOL HOLDINGS LIMITED (NATCOOL) |
| Date & Time of Broadcast | Oct 21, 2016 20:46 |
| Submitted By | Leaw Wei Siang Company Secretary |
| Description | This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B : Rules of Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Mr Thomas Lam, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088. |
| Cessation Details | |
| Name of person | Choy Bing Choong ("Mr Choy") |
| Age | 50 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Oct 20, 2016 |
| Detailed reason(s) for cessation | The current developments and dynamics of the Board has made it difficult for Mr Choy to contribute and discharge his duties as an Executive Director effectively. Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Choy as an Executive Director of the Company. Following to the resignation of Mr Choy as Executive Director, he shall remain as Chief Investment Officer 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? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of appointment to current position | Dec 27, 2015 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this account this cessation) | 3 |
| Number of cessations of appointments specified in Listing Rule 704(7) or Catalist Rule 704(6) over the past 12 months | 2 |
| Job Title | Executive Director and Chief Investment Officer. |
| Role and responsibilities | Responsible for formulating, planning and executing the Company's corporate strategies; charting the growth of the Group through identification of merger and acquisition opportunities; management of the Group's investment more effectively by working closely with Chief Financial Officer; and involving in the planning of operational strategy. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | NIL |
| Shareholdings interest in the listed issuer and its subsidaries? | No |
| Other directorships | |
| Past (for the last 5 years) | NIL |
| Present | HMK Energy Pte. Ltd. PT Harpindo Mitra Kharisma |
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