AGV

Change - Announcement Of Resignation Of Group Financial Controller

BackAug 20, 2019
Announcement Title Change - Announcement of Cessation
Announcement Subtitle Resignation of Group Financial Controller
Securities AGV GROUP LIMITED (AGV)
Date & Time of Broadcast Aug 20, 2019 18:09
Submitted By Lim Kok Meng
Company Secretary
Description This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited, for compliance with the relevant rules of the SGX-ST.

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 Mohammad Effendi Basri
Age 52
Is effective date of cessation known? Yes
Effective date for cessation Aug 23, 2019
Detailed reason(s) for cessation To pursue his personal career.

The Company's sponsor, Hong Leong Finance Limited, after having interviewed Mr Mohammad Effendi Basri, is not aware of any other material reasons for the cessation of Mr Mohammad Effendi Basri as the Group Financial Controller 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? Yes
If yes, please provide full details The Audit Committee and the Board are currently looking for a replacement Financial Controller or Chief Financial Officer. Pending appointment of a new Group Financial Controller or Chief Financial Officer, at the recommendation of management, the current finance manager will be designated to oversee the Group's finance and accounting function in the interim. She has 6 years of accounting and audit experience. At the same time, the Audit Committee and the Board have tasked management to constantly review the ability and adequacy of the Group's finance and accounting function and to report to the Audit Committee periodically on the same.
Date of appointment to current position Jul 16, 2018
Does the AC have a minimum of 3 members (taking into account this cessation)? Yes
Number of independent directors currently resident in Singapore (taking this account this cessation) 3
Number of cessations of appointments specified in Listing Rule 704(7) or Catalist Rule 704(6) over the past 12 months 3
Job Title Group Financial Controller
Role and responsibilities Mr Effendi was responsible for all financial matters within the Group.
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries No
Shareholdings interest in the listed issuer and its subsidaries? No
Past (for the last 5 years) Nil
Present Nil