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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Sep 2, 2024 17:21 |
| Status | New |
| Announcement Sub Title | Resignation of Group Financial Controller |
| Announcement Reference | SG240902OTHRJTJY |
| Submitted By (Co./ Ind. Name) | Michelle Heng |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Group Financial Controller |
| Additional Details | |
| Name Of Person | Frank Ng Tse Lim |
| Age | 45 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 30/09/2024 |
| Detailed Reason (s) for cessation | Mr Frank Ng Tse Lim ("Mr Ng") has resigned as Group Financial Controller of the Company for health reasons. Mr Ng, who joined the Company as Finance Manager in September 2008, has been a valued member of the Stamford Tyres management team and the Board thanks him for his service and contribution to the Stamford Tyres Group. There are no concerns with regard to financial reporting that led to Mr Ng's resignation and there is no disagreements between Mr Ng and the Board of Directors with regard to practices that may have an impact on the Company's financial reporting. The Company is in the process of identifying a suitable replacement and will make the necessary announcement to update shareholders in due course. |
| 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 | 01/10/2013 |
| 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) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Group Financial Controller |
| Role and responsibilities | Mr Ng is responsible for the overall financial accounting and reporting functions of the Group's business and oversight of the Group's treasury functions and regulatory compliance matters with regulatory bodies. Mr Ng's responsibilities will be overseen by other finance team members until a replacement is appointed. |
| 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? | No |
| Past (for the last 5 years) | PT Stamford Tyres Distributor Indonesia |
| Present | Falken Tyre India Private Ltd |