| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 3, 2018 17:36 |
| Status | New |
| Announcement Sub Title | ANNOUNCEMENT OF CESSATION OF NON-INDEPENDENT NON-EXECUTIVE DIRECTOR |
| Announcement Reference | SG180403OTHRMCIE |
| Submitted By (Co./ Ind. Name) | Gwendolyn Gn Jong Yuh |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | ANNOUNCEMENT OF CESSATION OF NON-INDEPENDENT NON-EXECUTIVE DIRECTOR |
| Additional Details | |
| Name Of Person | TEH WING KWAN |
| Age | 46 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 26/04/2018 |
| Detailed Reason (s) for cessation | Mr Teh Wing Kwan ("Mr Teh") will be retiring pursuant to Regulation 89 of the Company's Constitution. Mr Teh had decided not to seek for re-election in the upcoming Annual General Meeting on 26 April 2018 as a Non-Independent Non-Executive Director of the Company due to the following reasons: 1. On successful completion of the major corporate restructuring exercise and turnaround plans for Sapphire Corporation Limited as Group Chief Executive Officer ("CEO") and Managing Director from 3 October 2013 to 15 December 2017; and 2. To focus on his other on-going investments; and devote more time to his existing and anticipated corporate appointments. |
| 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 | 03/10/2013 |
| 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) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 6 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | 3 Oct 2013 to 15 Dec 2017 - appointed as Group CEO and MD 15 Dec 2017 to 26 Apr 2018 - re-designated as Non-Independent Non-Executive Director |
| Role and responsibilities | Mr Teh's strategic role and key responsibilities were corporate restructuring, corporate turnaround, business reorganisation and execution of other strategic plans as Group CEO and Managing Director from 3 October 2013 to 15 December 2017. He resumed a non-executive role as Non-Independent Non-Executive Director from 15 December 2017 to 26 April 2018. |
| 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? | Yes |
| Shareholding Details | 7,018,304 Ordinary Shares |
| Past (for the last 5 years) | 1. Singapore eDevelopment Limited (previously known as CCM Group Limited) 2. Asian American Medical Group Limited (previously known as Asian Centre for Liver Diseases and Transplantation Limited) 3. ZH International Holdings Limited (previously known as Heng Fai Enterprises Limited) 4. Mancala Holdings Limited 5. Mancala Holdings Pty Ltd 6. Ranken Infrastructure Limited 7. Singapore Construction & Development Pte Ltd 8. Koda Woodcraft Sdn Bhd 9. Jatat Furniture Industries Sdn Bhd 10. Zenith Height Sdn Bhd 11. TWT Equity Pte Ltd |
| Present | 1. China Vanadium Titano-Magnetite Mining Company Limited 2. Koda Ltd (Advisor to the Board) 3. National Land Investments Limited 4. BMI Capital Partners (Hong Kong) Limited 5. BMI Capital Partners Pte Ltd 6. Dominick & Dickerman International Company Limited 7. Raffles House Sdn Bhd |
