NewsChange - Announcement Of Cessation Of Director
BackNov 01, 2021
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Nov 1, 2021 7:48 |
| Status | New |
| Announcement Sub Title | Cessation of Director |
| Announcement Reference | SG211101OTHRMHE4 |
| Submitted By (Co./ Ind. Name) | Heng Michelle Fiona |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Managing Director. |
| Additional Details | |
| Name Of Person | Wee Kok Wah |
| Age | 75 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/11/2021 |
| Detailed Reason (s) for cessation | For health reasons, Mr Wee Kok Wah is stepping down as Managing Director of the Company with effect from 1 November 2021 to take on the role of Founder and Senior Advisor. He will also step down as a member of the Nominating 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 | 11/10/1989 |
| 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) | 2 |
| 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.) | Group's President and Managing Director; NC member |
| Role and responsibilities | Executive. Mr Wee is responsible for setting the direction, formulating corporate strategies and overall management of the Group's businesses. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr Wee is the spouse of Mrs Dawn Wee Wai Ying and father to Dr Wee Li Ann. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Direct: 43,214,554 shares in Company Deemed: 50,451,319 shares in Company through Wah Holdings Ltd Ltd (35,913,752 shares) and Mrs Dawn Wee Wai Ying (14,537,567 shares) |
| Past (for the last 5 years) | Nil |
| Present | Stamford Tyres Corporation and subsidiaries; Wah Holdings Pte Ltd |