SGX Announcements
Change - Announcement Of Cessation :: Cessation Of Provisional Financial Controller
BackApr 09, 2020
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 9, 2020 22:01 |
| Status | New |
| Announcement Sub Title | CESSATION OF PROVISIONAL FINANCIAL CONTROLLER |
| Announcement Reference | SG200409OTHRE4IG |
| Submitted By (Co./ Ind. Name) | Fan Chee Seng |
| Designation | Executive Chairman |
| Description (Please provide a detailed description of the event in the box below) | DLF was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 25 July 2018. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor in accordance with Rules 226(2)(b) and 753(2) of the SGX-ST Listing Manual Section B: Rules of Catalist. This announcement has not been examined or approved by the SGX-ST. 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 Ms Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, and E-mail: sponsorship@ppcf.com.sg). |
| Additional Details | |
| Name Of Person | Teow Lin Chew |
| Age | 35 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 17/04/2020 |
| Detailed Reason (s) for cessation | The demands of the job are not within the expectation of Mr Teow Lin Chew ("Mr Teow"). After having interviewed Mr Teow and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Teow as the Provisional Financial Controller. In addition, there are no concerns with regards to financial reporting that led to the cessation of Mr Teow, and there are no disagreement between Mr Teow and the Company's Board of Directors with regards to practices that will have an impact on the Company's financial reporting. |
| 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? | Yes |
| If Yes, Please provide full details | A qualified and experienced finance team will continue to support Mr Taku Edatsune, who is Head of Finance and Admin, for the Group's accounting and finance functions. |
| Date of Appointment to current position | 22/01/2020 |
| 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 | 12 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Provisional Financial Controller |
| Role and responsibilities | Mr Teow is responsible for the Group's accounting and finance functions, including tax, treasury and compliance matters. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | None |
| Present | None |