Change - Announcement Of Cessation As Independent Director And Chairman
BackDec 01, 2014
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | ANNOUNCEMENT OF CESSATION AS INDEPENDENT DIRECTOR AND CHAIRMAN |
| Securities | LOYZ ENERGY LIMITED (LOYZENER) |
| Date & Time of Broadcast | Dec 1, 2014 6:32 |
| Submitted By | LEE CHYE CHENG, ADRIAN DIRECTOR |
| Description | Canaccord Genuity Singapore Pte. Ltd. ("Sponsor"), after having interviewed Mr Lien, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Lien. This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor, for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement. The contact person for the Sponsor is Mr Alex Tan, CEO, Corporate Finance, Canaccord Genuity Singapore Pte. Ltd. at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854-6160. |
| Cessation Details | |
| Name of person | Lien Jown Jing Vincent |
| Age | 53 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Dec 1, 2014 |
| Detailed reason(s) for cessation | Stepping down due to additional responsibilities with a third party which may result in a potential conflict situation |
| 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 | Nov 6, 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 this 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 | Independent Director and Chairman |
| Role and responsibilities | Mr Lien is responsible for setting the overall goals, business strategies and directions for the Company and the Group |
| 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? | Yes |
| Shareholding Details | 200,000 options (lapsed upon cessation as Director) |
| Other directorships | |
| Past (for the last 5 years) | Director: Wah Hin & Company Lien Ying Chow (Pte.) Ltd. Robusto Private Limited Vitrone Properties (Pte.) Limited Isola Capital Limited ILFS Wind Power Limited Maritime & Port Authority of Singapore Non-Executive Director: Primeline Energy Holdings Inc. Independent Non-Executive Director: Viva China Holdings Limited Focus Media Network Limited UP Energy Development Group Limited CT Environmental Group Limited |
| Present | Director: Wah Hin & Company Lien Ying Chow (Pte.) Ltd. Robusto Private Limited Vitrone Properties (Pte.) Limited Isola Capital Limited ILFS Wind Power Limited Maritime & Port Authority of Singapore Non-Executive Director: Primeline Energy Holdings Inc. Independent Non-Executive Director: Viva China Holdings Limited Focus Media Network Limited UP Energy Development Group Limited CT Environmental Group Limited |