Issuer & Securities
Issuer/ Manager
PAN HONG HOLDINGS GROUP LIMITED
Securities
PAN HONG HOLDINGS GROUP LTD - BMG6900A1163 - P36
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Mar-2020 17:31:25
Status
New
Announcement Sub Title
Resignation of Non-Executive and Non-Independent Director
Announcement Reference
SG200331OTHR4EI1
Submitted By (Co./ Ind. Name)
Angela Toh
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of resignation of Non-Executive and Non-Independent Director and a member of Remuneration Committee
Additional Details
Name Of Person
Chan Kin Sang ("Mr Chan")
Age
68
Is effective date of cessation known?
Yes
If yes, please provide the date
31/03/2020
Detailed Reason (s) for cessation
In consideration of (i) the succession plans of the Group; (ii) the diversity of the Board in accordance with its Board Diversity Policy, (iii) the progressive renewal of the Board, and (iv) compliance with the recommendations of the Code of Corporate Governance 2018, the Board accepted the resignation of Mr Chan as a Non-Executive and Non-Independent Director.
For more details, please refer to the separate announcement relating to the changes to the composition of the Board and the Board Committees.
Mr Chan has informed the Board that he has been invited to join the Board of Sino Harbour Holdings Group Limited, which he has accepted.
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
14/08/2006
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.)
Non-Executive and Non-Independent Director and a member of Remuneration Committee
Role and responsibilities
Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Chan Kin Sang is the nephew of Mr Wong Lam Ping who is a substantial shareholder of the Company. Mr Wong Lam Ping has resigned as the Executive Chairman and Chief Executive Officer on 31 March 2020.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
1. LUXKING GROUP HOLDINGS LIMITED
2. CHINA TAIFENG BEDDINGS HOLDINGS LIMITED
3. TIANHE CHEMICALS GROUP LIMITED
4. MUNSUN CAPITAL GROUP LIMITED (FORMERLY KNOWN AS CHINA PRECIOUS METAL RESOURCES HOLDINGS CO., LTD)
5. CEFC HONG KONG FINANCIAL INVESTMENT COMPANY LIMITED (FORMERLY KNOWN AS RUNWAY GLOBAL HOLDINGS COMPANY LIMITED)
6. TIANJIN TEDA BIOMEDICAL ENGINEERING COMPANY LIMITED
7. COMBEST HOLDINGS LIMITED
8. CHINA HEALTHCARE ENTERPRISE GROUP LIMITED
Present
1. CHINA FORTUNE FINANCIAL GROUP LIMITED
2. GUANGHE LANDSCAPE CULTURE COMMUNICATION CO., LTD.
3. PAK TAK INTERNATIONAL LIMITED
4. HUAKANG BIOMEDICAL HOLDINGS COMPANY LIMITED
