Elektromotive Group Limited

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    Change - Announcement Of Cessation Of Non-Executive And Non-Independent Chairman

    BackNov 21, 2016
    Issuer & Securities
    ISIN SG2F80993502
    Stock Code 5VU
    Stapled Security No
    Announcement Details
    Announcement Title Change - Announcement of Cessation
    Date & Time of Broadcast Nov 21, 2016 17:22
    Status New
    Announcement Sub Title Cessation of Non-Executive and Non-Independent Chairman
    Announcement Reference SG161121OTHREAVW
    Submitted By (Co./ Ind. Name) NG KAI MAN
    Description (Please provide a detailed description of the event in the box below) Please see attached.

    This announcement has been prepared by Elektromotive Group Limited (the "Company") and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of the Catalist. The Sponsor has not verified the contents of this announcement.

    This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume 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 person for the Sponsor is Ms Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.
    Additional Details
    Name Of Person RICKY ANG GEE HING
    Age 65
    Is effective date of cessation known? Yes
    If yes, please provide the date 21/11/2016
    Detailed Reason (s) for cessation Mr Ricky Ang Gee Hing is of the view that he will not be able to fulfill the duties of Non-Executive and Non-Independent Chairman of the Company due to his other commitments.

    Based on its enquiries, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr Ang as Non-Executive and Non-Independent Chairman.
    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 08/07/2016
    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) 5
    Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 2
    Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Non-Executive and Non-Independent Chairman
    Role and responsibilities Non-Executive
    Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries No
    Shareholding interest in the listed issuer and its subsidiaries? Yes
    Shareholding Details Mr Ang holds 16,726,548 shares in the Company. As Mr Ang owns 50% of the Fontana Investments Pte Ltd, he is deemed to be interested in the 4,793,538 shares in the Company held by Fontana Investments Pte Ltd.
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