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Change - Announcement Of Retiring As Director Of The Company
BackJan 06, 2020
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 6, 2020 0:05 |
| Status | New |
| Announcement Sub Title | Retiring as Director of the Company |
| Announcement Reference | SG200106OTHRAUS9 |
| Submitted By (Co./ Ind. Name) | Sean Lee Yun Feng |
| Designation | CEO |
| Description (Please provide a detailed description of the event in the box below) | Mr Lee Wan Tang will be retiring as a Director of the Company pursuant to Regulation 103 of the Constitution of the Company, and he will not be seeking re-election at the Annual General Meeting. |
| Additional Details | |
| Name Of Person | Lee Wan Tang |
| Age | 70 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 21/01/2020 |
| Detailed Reason (s) for cessation | Retiring from the board to take on a more passive role as an honorary advisor to 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 | 13/09/2007 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | No |
| 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 | 3 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Chairman |
| Role and responsibilities | Mr Lee Wan Tang is the Executive Chairman of the Group. He is responsible for the strategic positioning and business expansion of the Group. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr Lee Wan Tang is the Father of Mr Sean Lee Yun Feng (Chief Executive Officer and Executive Director of the Company) and Ms Liely Lee (Chief Financial Officer and Alternate Director to Mr Lee Wan Tang). |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Lee Wan Tang directly holds 14,826,200 Ordinary Shares in the Company. Mr Lee is also deemed interested in 367,335,113 in the Company as a result of :i) 200,418,974 Ordinary Shares held by Nautical Holdings Ltd, and ii) 166,916,139 bonus Warrants issued and allotted on 29 January 2018. |
| Past (for the last 5 years) | 1) GOLD PARK PTY LTD |
| Present | 1) MARCO POLO SHIPPING CO PTE LTD 2) ALLIANCE MINING CORPORATION PTE. LTD. 3) ALLIANCE MINING INVESTMENTS PTE. LTD. 4) EUROSTONE (SINGAPORE) PTE. LTD. 5) NAUTICAL INTERNATIONAL HOLDINGS LTD (BVI) 6) VAST RESOURCES ASSETS LIMITED (BVI) 7) MARCO POLO SHIPYARD PTE. LTD. 8) MP MARINE PTE. LTD. 9) NEW RESOURCES TECHNOLOGY PTE. LTD. |
