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Change - Announcement Of Resignation Of Head, Development
BackMay 24, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | May 24, 2022 19:45 |
| Status | New |
| Announcement Sub Title | Resignation of Head, Development |
| Announcement Reference | SG220524OTHRMIIO |
| Submitted By (Co./ Ind. Name) | Ong Chu Poh |
| Designation | Executive Chairman and Group Chief Executive Officer |
| 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 Sponsor, DBS Bank Ltd. ("Sponsor") for compliance with the Catalist Rules. The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement. The contact persons of the Sponsor are Mr Goh Chyan Pit, Managing Director and Mr Kelvin Wong, Senior Vice President, who can be contacted at 12 Marina Boulevard, Level 46, Marina Bay Financial Centre Tower 3, Singapore 018982, Telephone +65 6878 8888. |
| Additional Details | |
| Name Of Person | Ong Xin De |
| Age | 37 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 30/06/2022 |
| Detailed Reason (s) for cessation | To seek new ventures and reorder some priorities in life. The Company's sponsor, DBS Bank Ltd., after having interviewed Mr. Ong Xin De, is satisfied that, other than disclosed in the announcement, there are no other material reasons for the cessation of Mr. Ong Xin De as Head of Development of the Company. In addition, as represented by Mr. Ong Xin De during the interview, there are no concerns with regards to financial reporting that led to his resignation and there are no disagreement between him and the Board of Directors of the Company with regards to practices that will have an impact on the Company's financial reporting. |
| 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 | 01/02/2021 |
| 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 | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Head, Development. Mr Ong Xin De was the Head, Strategic Business Unit on 3 July 2017 & subsequently on 1 Feb 2021, redesignated as Head, Development. |
| Role and responsibilities | Responsible for overseeing strategic development, innovation, and technology. Upon resignation of Mr. Ong Xin De, the role and responsibilities of the Head, Development will be undertaken by internal promotion within the management team, and under the leadership of the Group Chief Financial Officer, Ms. Kang Shwu Huey and the Deputy Chief Executive Officer, Singapore, Ms. Ong Hui Ming. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr. Ong Xin De is (i) the son of the Executive Chairman, controlling shareholder and Group Chief Executive Officer, Mr. Ong Chu Poh; and (ii) the brother of Executive Director and Deputy Chief Executive Officer, Singapore, Ms. Ong Hui Ming. |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Heart Ignition Pte. Ltd. Caleb Care (Singapore) Pte. Ltd. |
| Present | Nil |