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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Aug 8, 2023 6:46 |
| Status | New |
| Announcement Sub Title | Retirement of Non-Executive and Independent Director |
| Announcement Reference | SG230808OTHR9NT6 |
| Submitted By (Co./ Ind. Name) | Michelle Heng |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Non-Executive and Independent Director |
| Additional Details | |
| Name Of Person | Leslie Mah Kim Loong |
| Age | 79 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 31/08/2023 |
| Detailed Reason (s) for cessation | As part of the Board renewal process, Mr Leslie Mah Kim Loong will be retiring by rotation pursuant to Regulation 111 of the Constitution of Stamford Tyres Corporation Ltd ("STCL"). The Board and Management of STCL would like to express their gratitude to Mr Leslie Mah for his invaluable contributions and guidance to the Board and the Stamford Tyres Group. Upon his retirement from the Board at the conclusion of the annual general meeting to be held on 31 August 2023, Mr Leslie Mah will also step down as Chairman of the Audit Committee and a member of both the Remuneration and Nominating Committees. |
| 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 | 01/12/2012 |
| 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.) | Chairman of the Audit Committee; member of the Remuneration Committee; member of the Nominating Committee |
| Role and responsibilities | Non-Executive and Independent Director |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 1,150,000 shares (direct interest) |
| Past (for the last 5 years) | Nil |
| Present | 1) Hotel Properties Limited 2) Lam Soon (M) Bhd |