Replace - Change - Announcement Of Resignation Of Chief Executive Officer

BackFeb 25, 2020
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Feb 25, 2020 17:38
Status Replace
Announcement Sub Title Resignation of Chief Executive Officer
Announcement Reference SG200221OTHR950I
Submitted By (Co./ Ind. Name) Chan Shut Li, William
Designation Executive Chairman
Description (Please provide a detailed description of the event in the box below) We refer to the Company's Announcement of Cessation of CEO released on 21 February 2020 (Announcement Reference SG200221OTHR950I). This announcement provides detailed information on the reason for the CEO's resignation and supersedes the earlier announcement.
Additional Details
Name Of Person Liu Kaichun
Age 45
Is effective date of cessation known? Yes
If yes, please provide the date 29/02/2020
Detailed Reason (s) for cessation The reasons of Mr Liu s resignation are purely due to having worked for the Group as its CEO for several months, Mr Liu found the job to be not suitable given the extensive business travels required for him to perform his duty. Adding to it is the current coronavirus situation which has only made travelling even more stressful and taxing for him. As such, he has decided to pursue other career opportunities that require less travelling and thereby allowing him to spend more time with his family given the 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 01/06/2019
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) 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 (e.g. Lead ID, AC Chairman, AC Member etc.) Chief Executive Officer
Role and responsibilities Role and responsibilities of CEO
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 3,763,100 Ordinary Shares in Mirach Energy Limited
Past (for the last 5 years) Wuhan Huaer Tiancheng Asset Management Investment Co., Ltd.
Present Wuhan Huaer Tiancheng Asset Management Investment Co., Ltd.