News
Change - Announcement Of Retirement Of Mr Kwek Choon Lin Winston As Independent Non-Executive Director Of The Company
BackApr 15, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 15, 2024 17:40 |
| Status | New |
| Announcement Sub Title | RETIREMENT OF MR KWEK CHOON LIN WINSTON AS INDEPENDENT NON-EXECUTIVE DIRECTOR OF THE COMPANY |
| Announcement Reference | SG240415OTHRGV5X |
| Submitted By (Co./ Ind. Name) | VINCENT LIM HUI ENG |
| Designation | EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Independent Non-Executive Director - Mr Kwek Choon Lin Winston |
| Additional Details | |
| Name Of Person | Kwek Choon Lin Winston |
| Age | 59 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 30/04/2024 |
| Detailed Reason (s) for cessation | Mr Kwek Choon Lin Winston ("Winston Kwek") has served as Independent Director of the Company beyond nine (9) years from the date of his first appointment. In compliance with the amended SGX-ST Listing Rule 210(5)(d)(iv), which prescribed a nine-year tenure limit for independent directors, Winston Kwek will be stepping down as Independent Director of the Company upon the conclusion of the forthcoming Annual General Meeting on 30 April 2024. Winston Kwek will also be relinquishing his positions as Chairman of the Nominating Committee, member of the Audit Committee and Remuneration Committee. |
| 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 | 03/08/2005 |
| 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) | 3 |
| 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.) | 1) Independent Non-Executive Director 2) Chairman of the Nominating Committee 3) Member of the Audit Committee and Remuneration Committee |
| Role and responsibilities | Carry out the responsibilities of an Independent Director, Chairman of the Nominating Committee and Member of the Audit Committee and Remuneration Committee. |
| 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) | NIL |
| Present | i) Penguin International Limited |