AGV

Change - Announcement Of Resignation Of Ang Nam Heng James As Executive Director

BackJan 14, 2020
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Jan 14, 2020 19:19
Status New
Announcement Sub Title Resignation of Ang Nam Heng James as Executive Director
Announcement Reference SG200114OTHRDI4R
Submitted By (Co./ Ind. Name) Lim Kok Meng
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Hong Leong Finance Limited.

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.
Additional Details
Name Of Person Ang Nam Heng James
Age 50
Is effective date of cessation known? Yes
If yes, please provide the date 30/01/2020
Detailed Reason (s) for cessation Mr James Ang was stated to be retiring by rotation at the forthcoming annual general meeting of the Company. He has decided that he will not seek re-election and will step down as Executive Director of AGV Group Limited to concentrate on his role as executive director of Asia Galvanizing (S) Pte Ltd, assisting in business development and sales, and as director of AGV C&S Pte Ltd, which are the subsidiaries of the Company.

The Company's sponsor, Hong Leong Finance Limited, after having interviewed Mr James Ang, is not aware of any other material reasons for the cessation of Mr James Ang as the Executive Director.
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 22/01/2016
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) 3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Executive Director and Chief Operating Officer
Role and responsibilities Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries Yes. James Ang and Albert Ang, the Executive Director of the Issuer, are brothers.
Shareholding interest in the listed issuer and its subsidiaries? Yes
Shareholding Details Yes. Mr James Ang is deemed interested in the 23,106,440 shares in the listed issuer held by Asiagalv Capital LLP.
Past (for the last 5 years) Nil
Present Nil