AGV

Change - Announcement Of Cessation Of Independent Director

BackMay 02, 2018
Announcement Title Change - Announcement of Cessation
Announcement Subtitle Cessation of Independent Director
Securities AGV GROUP LIMITED (AGV)
Date & Time of Broadcast May 2, 2018 23:21
Submitted By Tan Swee Gek
Company Secretary
Description This announcement has been prepared by Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited, for compliance with the relevant rules of SGX-ST. The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Tang Yeng Yuen, Vice President, Head of Corporate Finance who can be contacted at 16 Raffles Quay, #01-05, Hong Leong Building, Singapore 048581, Telephone: (65) 6415 9886.
Cessation Details
Name of person Chia Seng Hee
Age 57
Is effective date of cessation known? Yes
Effective date for cessation May 2, 2018
Detailed reason(s) for cessation To facilitate a cut in board size that is more appropriate for the Company

The Company's sponsor, Hong Leong Finance Limited, after having interviewed Mr Chia Seng Hee, is not aware of any other material reasons for the cessation of Mr Chia Seng Hee as the Non-Executive Chairman and Independent Director of 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 Apr 1, 2016
Does the AC have a minimum of 3 members (taking into account this cessation)? No
Number of independent directors currently resident in Singapore (taking this 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 Non-Executive Chairman and Independent Director
Chairman of the Audit Committee, member of the Remuneration and Nominating Committees
Role and responsibilities Non-Executive Chairman and Independent Director
Chairman of the Audit Committee, member of the Remuneration and Nominating Committees
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries None
Shareholdings interest in the listed issuer and its subsidaries? Yes
Shareholding Details 100,000 ordinary shares in the Company
Other directorships
Past (for the last 5 years) Sunray Holdings Limited - delisted
China Hongcheng International Holdings Limited - delisted
Guangzhao Industrial Forest Biotechnology Group Limited -dissolved compulsory winding up
Singapore Capital Partners Pte. Ltd.
E Frontier Global Pte. Ltd.
E Frontier Singapore Pte. Ltd.
Ricesse Management Inc
Legami Pte Ltd

Present Combine Will International Holdings Limited
Debao Property Development Limited
Dukang Distillers Holdings Limited
mm2 Asia Ltd
Shanghai Turbo Enterprises Limited
Jack Global Solutions Pte Ltd