News.
Change - Announcement Of Cessation As Chief Financial Officer
BackFeb 28, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Feb 28, 2022 17:32 |
| Status | New |
| Announcement Sub Title | Cessation as Chief Financial Officer |
| Announcement Reference | SG220228OTHR7MRF |
| Submitted By (Co./ Ind. Name) | Devika Rani Davar |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Mr Ng Chee Kwoon as Chief Financial Officer |
| Additional Details | |
| Name Of Person | Ng Chee Kwoon |
| Age | 51 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 31/03/2022 |
| Detailed Reason (s) for cessation | Mr Ng Chee Kwoon, who has been the Chief Financial Officer of the Company since 2015, has given notice to step down for personal reasons with effect from 31 March 2022. Mr William Ng Wai Lim, the current VP Finance, will succeed Mr Ng Chee Kwoon as CFO with effect from 1 April 2022. The Board thanks Mr Ng Chee Kwoon for his service and contributions to the Company. |
| 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 | 01/02/2015 |
| 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) | 6 |
| 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.) | Chief Financial Officer |
| Role and responsibilities | The Chief Financial Officer is responsible for the Group's finance and accounting functions including budgeting, financial planning, treasury, cash flow, credit and tax management and other general corporate and administrative functions. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | NIL |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | - 55,000 Share Options pursuant to the Venture Corporation Executive Share Option Scheme 2015. - 75,000 Unvested Restricted Shares pursuant to the Venture Corporation Restricted Share Plan 2011. |
| Past (for the last 5 years) | GES Manufacturing Services (M) Sdn. Bhd. GES Manufacturing Services (M) Sdn. Bhd. Singapore Branch Munivac Sdn. Bhd. Pintarmas Sdn. Bhd. Technocom Systems Sdn. Bhd. V-Design Services (M) Sdn. Bhd. Venture Electronics Services (Malaysia) Sdn. Bhd. |
| Present | Advanced Instrument Pte. Ltd. Advanced Products Corporation Pte Ltd Cebelian Holdings Pte Ltd GES (Singapore) Pte Ltd GES International Limited GES Investment Pte. Ltd. Innovative Trek Technology Pte Ltd Multitech Systems Pte. Ltd. Scinetic Engineering Pte Ltd Shanghai GES Information Technology Co., Ltd SME Investment Pte. Ltd. Univac Design & Engineering Pte Ltd Univac Precision (India) Private Limited Univac Precision Engineering Pte Ltd Ventech Investments Ltd Venture Electronics (Europe) B.V. Venture Electronics (Shenzhen) Co., Ltd Venture Electronics Solutions Pte Ltd Venture Electronics Spain S.L.U. Venture International Pte. Ltd. VIPColor Technologies Pte Ltd Winza Pte. Ltd. |
