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Change - Announcement Of Cessation Of Independent Director

BackJul 05, 2024
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Jul 5, 2024 23:31
Status New
Announcement Sub Title CESSATION OF INDEPENDENT DIRECTOR
Announcement Reference SG240705OTHR5WJN
Submitted By (Co./ Ind. Name) BRIAN MCKINLEY
Designation CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below) Cessation of Independent Director who is also the Chairman of Remuneration Committee and Members of Audit Committee and Nominating Committee.
Additional Details
Name Of Person Tan Chung Yaw
Age 60
Is effective date of cessation known? Yes
If yes, please provide the date 15/07/2024
Detailed Reason (s) for cessation Stepping down as part of Board renewal exercise to allow the Trustee-Manager to appoint new independent directors.
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 29/04/2013
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) 3
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.) Independent Director, Chairman of Remuneration Committee and members of Audit Committee and Nominating Committee
Role and responsibilities Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries N/A
Shareholding interest in the listed issuer and its subsidiaries? Yes
Shareholding Details 748,800 units of Asian Pay Television Trust (including
deemed interest in 100,000 units owned by Ms Lim Kim Suan, Cynthia, wife of Mr Tan Chung Yaw)
Past (for the last 5 years) Avocado Guild Ltd.
Present SIMBA Telecom Pte. Ltd.
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No PRC Person shall hold or control Units in Asian Pay Television Trust in breach of the PRC Investment Restrictions and no Restricted Party shall hold or control Units in breach of the Taiwan Government Ownership Restrictions. The Trustee-Manager may, in the case of a breach of the PRC Investment Restrictions and/or the Taiwan Government Ownership Restrictions and/or where a corporate entity which provides cable television services in Taiwan (as determined by the Trustee-Manager in its sole discretion) holds or acquires more than one-third of the total issued Units, take all steps and do all things as they may in their absolute discretion deem necessary to ensure that the restrictions thereunder are complied with. In particular, the Trust Deed provides that the Trustee-Manager has the power to require the relevant Unitholders to dispose of their Units and, if such request is not complied with within 21 days after such request (or such shorter period as the Trustee-Manager shall consider reasonable), the power to arrange for the sale of the Units. Pending such sale, the Trustee-Manager has the power to suspend the voting rights of such Units and/or to restrict the transfer of such Units. The Trustee-Manager shall not be required to give any reason for, and shall not under any circumstances be liable to or be responsible for any losses incurred by, any person as a result of, any decision, declaration or action taken or made in this regard.