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
12-Jul-2023 00:02:32
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG230712OTHR15C2
Submitted By (Co./ Ind. Name)
Wong Sum
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Mr Sim Wee Leong will be retiring as a Director of the Company pursuant to Bye-Law 86(1) of the Bye-Laws of the Company at the conclusion of the Annual General Meeting to be held on 28 July 2023 ("AGM"). Mr Sim Wee Leong has served as an Independent Director of the Company for more than nine years from the date of his first appointment. In the spirit of good corporate governance, Mr Sim Wee Leong is not seeking re-election.
Accordingly, Mr Sim Wee Leong shall also retire as the Lead Independent Director of the Company, chairman of the Audit Committee ("AC") and members of the Remuneration Committee ("RC") and Nominating Committee ("NC") at the conclusion of the AGM. Concurrently, Mr Ng Kheong Khoon, an Independent Director of the Company, will be appointed as the Lead Independent Director of the Company, Chairman of the AC, and members of the RC and NC.
The Board would like to express its heartfelt gratitude to Mr Sim Wee Leong for his contributions and efforts driving the growth of the Group over the years.
Additional Details
Name Of Person
Sim Wee Leong
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
28/07/2023
Detailed Reason (s) for cessation
Mr Sim Wee Leong will be retiring as a Director of the Company pursuant to Bye-Law 86(1) of the Bye-Laws of the Company at the conclusion of the AGM. Mr Sim Wee Leong has served as an Independent Director of the Company for more than nine years from the date of his first appointment. In the spirit of good corporate governance, Mr Sim Wee Leong is not seeking re-election.
Accordingly, Mr Sim Wee Leong shall also retire as the Lead Independent Director of the Company, chairman of the AC and members of the RC and NC at the conclusion of the AGM. Concurrently, Mr Ng Keong Khoon, an Independent Director of the Company, will be appointed as the Lead Independent Director of the Company, Chairman of the AC, and members of the RC and NC.
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, chairman of the AC and members of the RC and NC
Role and responsibilities
Duties as the Lead Independent Director, chairman of the AC and members of the RC and NC
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
Nil
