Change - Announcement of Cessation::Resignation of Executive Chairman and Group Chief Executive Officer
Issuer & Securities
Issuer/ Manager
PAN HONG HOLDINGS GROUP LIMITED
Securities
PAN HONG HOLDINGS GROUP LTD - BMG6900A1163 - P36
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Mar-2020 17:31:08
Status
New
Announcement Sub Title
Resignation of Executive Chairman and Group Chief Executive Officer
Announcement Reference
SG200331OTHRLXDZ
Submitted By (Co./ Ind. Name)
Angela Toh
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Announcement of resignation of the Executive Chairman and Group Chief Executive Officer ("CEO") and a member of Nominating Committee ("NC")
Additional Details
Name Of Person
Wong Lam Ping ("Mr Wong")
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
31/03/2020
Detailed Reason (s) for cessation
In consideration of (i) the succession plans of the Group; (ii) the diversity of the Board in accordance with its Board Diversity Policy, (iii) the progressive renewal of the Board, and (iv) compliance with the recommendations of the Code of Corporate Governance 2018, the Board accepted the resignation of Mr Wong as the Executive Chairman and Group CEO.

For more details, please refer to the separate announcement relating to the changes to the composition of the Board and the Board Committees.

Mr Wong has informed the Board that he has been invited to join the Board of Sino Harbour Holdings Group Limited, which he has accepted.
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
03/01/2006
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman, Chief Executive Officer and a member of Nominating Committee
Role and responsibilities
Mr Wong is responsible for the formulation and execution of overall business strategies and policies as well as the overall management of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Mr Wong is the spouse of Ms Chan Heung Ling who is a substantial shareholder of the Company and the uncle of Mr Chan Kin Sang, a Non-Executive and Non-Independent Director of the Company. Mr Chan Kin Sang has resigned as a Non-Executive and Non-Independent Director of the Company on 31 March 2020.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest in 26,020,894 shares and deemed interest in 302,443,300 shares.
Past (for the last 5 years)
Nil
Present
Nil