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COSCO SHIPPING International (Singapore) Co., Ltd. (“COSCO SHIPPING” or the “Company” and together with its subsidiaries, the “Group”) aims to become the best-integrated logistics service provider in South and Southeast Asia. The Company is also involved in dry bulk shipping, ship repair and marine engineering, as well as property management.
News
Change - Announcement Of Cessation Of Independent Non-Executive Director
BackJun 01, 2023
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jun 1, 2023 17:53 |
| Status | New |
| Announcement Sub Title | CESSATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR |
| Announcement Reference | SG230601OTHRL061 |
| Submitted By (Co./ Ind. Name) | Zhu Jian Dong |
| Designation | Chairman and President |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Independent Non-Executive Director |
| Additional Details | |
| Name Of Person | Wang Kai Yuen |
| Age | 75 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 15/06/2023 |
| Detailed Reason (s) for cessation | Dr Wang Kai Yuen ("Dr Wang") will be stepping down as Independent Non-Executive Director of the Company pursuant to the nine-year tenure limit rule for independent directors. Following Dr Wang's cessation, Dr Wang will also cease to be the Chairman of the Nominating Committee and a Member of the Audit and Risk Management Committee, Remuneration Committee and Strategic Development Committee. |
| 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 | 02/05/2001 |
| 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 | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent NED, Chairman of Nominating Committee and a Member of Audit and Risk Management, Remuneration and Strategic Development Committees. |
| Role and responsibilities | Chairman of the Nominating Committee Member of the Audit and Risk Management Committee Member of Remuneration Committee Member of Strategic Development Committee |
| 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? | Yes |
| Shareholding Details | Direct Interest: 900,000 shares Indirect Interest: 100,000 shares |
| Past (for the last 5 years) | ComfortDelGro Corporation Limited Ezion Holdings Ltd HLH Group Ltd |
| Present | Emas Offshore Limited A-Sonic Aerospace Limited Hong Lai Huat Group Limited Waan Holdings Pte Ltd |
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