Change - Announcement of Cessation::Retirement of Mr Wu Yu Liang as Non-Executive and Lead Independent Director

Issuer & Securities

Issuer/ Manager
JIUTIAN CHEMICAL GROUP LIMITED
Securities
JIUTIAN CHEMICAL GROUP LIMITED - SG1V71937527 - C8R
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
09-Apr-2024 21:48:07
Status
New
Announcement Sub Title
Retirement of Mr Wu Yu Liang as Non-Executive and Lead Independent Director
Announcement Reference
SG240409OTHRKINC
Submitted By (Co./ Ind. Name)
Xu Aijun
Designation
Non-Executive and Non-Independent Chairman
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Lim Hui Ling, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg

Additional Details

Name Of Person
Wu Yu Liang
Age
63
Is effective date of cessation known?
Yes
If yes, please provide the date
25/04/2024
Detailed Reason (s) for cessation
Pursuant to Catalist Rule 406(3)(d)(iv), Mr Wu Yu Liang ("Mr Wu") will cease to be considered independent after the conclusion of the upcoming annual general meeting ("AGM"). As such and as part of the Board renewal process, Mr Wu will be voluntary retiring at the AGM.

Accordingly, Mr Wu will also cease as Lead Independent Director, Chairman of the Remuneration Committee and member of the Audit Committee.

The Board would like to express its gratitude towards Mr Wu for his valuable and significant contributions to the Company during his tenure of service.

The Nominating Committee and the Board are in the final stages of assessing potential candidates to replace Mr Wu as part of the Board renewal process and to ensure compliance with the Listing Manual and/or the Code of Corporate Governance. The Company will make announcement(s) regarding the appointment of new director, and/or revision to the composition of the Board and its Committees on the SGXNet, once details become available.


After having interviewed Mr Wu and to the best of its knowledge, the Company's Sponsor is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Mr Wu as the Non-Executive and Lead Independent Director of 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
19/04/2006
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Lead Independent Director, Chairman of Remuneration Committee and Member of Audit Committee.
Role and responsibilities
Non-Executive and Lead Independent Director, Chairman of Remuneration Committee and Member of Audit Committee.
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
Direct interest: 300,000 shares
Past (for the last 5 years)
Seven Atelier Limited
Present
AusGroup Limited
Offshore Nexus Management and Secretarial Services Pte. Ltd.
Managing Director of: Wu LLC