27 Apr 2015
Change - Announcement Of Cessation - Retirement Of Independent Director
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | RETIREMENT OF INDEPENDENT DIRECTOR |
| Securities | INTRACO LIMITED (INTRACO) |
| Date & Time of Broadcast | Apr 27, 2015 18:06 |
| Submitted By | Tan San-Ju Company Secretary |
| Description | RETIREMENT OF INDEPENDENT DIRECTOR |
| Cessation Details | |
| Name of person | TAN NG CHEE |
| Age | 71 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Apr 27, 2015 |
| Detailed reason(s) for cessation | Dr Tan Ng Chee, who was due to retire at the Company's Annual General Meeting ("AGM") pursuant to Section 153(6) of the Companies Act, Chapter 50, did not seek re-appointment as a Director. Accordingly, Dr Tan has ceased as a Director of the Company at the conclusion of the AGM. He has also ceased as Chairman of the Board, Chairman and member of the Remuneration Committee and member of the Audit Committee. |
| 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 | Dec 10, 2002 |
| 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) | 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 | Independent Director, Chairman of the Board, Chairman and member of the Remuneration Committee and member of the Audit Committee |
| Role and responsibilities | As above. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | Nil. |
| Shareholdings interest in the listed issuer and its subsidaries? | No |
| Other directorships | |
| Past (for the last 5 years) | 1. Acru China + Absolute Return Fund Ltd;and 2. LGT Bank in Liechtenstein (Singapore) Ltd. |
| Present | 1. Hotung Investment Holdings Ltd; and 2. Prudential Assurance Company Singapore (Pte) Ltd. |