Change - Announcement Of Cessation Of Non-Executive Director
BackMay 11, 2016
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | CESSATION OF NON-EXECUTIVE DIRECTOR |
| Securities | LOYZ ENERGY LIMITED (LOYZENER) |
| Date & Time of Broadcast | May 11, 2016 7:57 |
| Submitted By | LEE CHYE CHENG, ADRIAN DIRECTOR |
| Description | This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Canaccord Genuity Singapore Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities trading Limited ("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 Sebastian Jones, Associate Director, Corporate Finance, Canaccord Genuity Singapore Pte. Ltd. at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160. |
| Cessation Details | |
| Name of person | CHAN ENG YEW (ZENG RONGYAO) |
| Age | 43 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | May 10, 2016 |
| Detailed reason(s) for cessation | To pursue personal interest and other business. The Sponsor after having interviewed Mr Chan Eng Yew, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr Chan Eng Yew as a Non-Executive Director. |
| 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 | Jul 22, 2011 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | No |
| Number of independent directors currently resident in Singapore (taking this 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 | 4 |
| Job Title | Non-Executive Director |
| Role and responsibilities | Non-Executive Director and Member of the Remuneration Committee |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | No |
| Shareholdings interest in the listed issuer and its subsidaries? | Yes |
| Shareholding Details | 770,000 share options (lapsed upon cessation as Director) |
| Other directorships | |
| Past (for the last 5 years) | Executive Director: Triyards Holdings Limited |
| Present | Nil |