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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Oct 7, 2024 23:49 |
| Status | New |
| Announcement Sub Title | RETIREMENT OF CHAIRMAN AND INDEPENDENT NON-EXECUTIVE DIRECTOR - MR. CHEAH TEIK SENG |
| Announcement Reference | SG241007OTHRVZQ4 |
| Submitted By (Co./ Ind. Name) | DATO' MURLY MANOKHARAN |
| Designation | PRESIDENT AND GROUP CHIEF EXECUTIVE OFFICER |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Mr. Cheah Teik Seng as the Chairman and Independent Non-Executive Director of the Company |
| Additional Details | |
| Name Of Person | Cheah Teik Seng |
| Age | 71 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 22/10/2024 |
| Detailed Reason (s) for cessation | Mr. Cheah Teik Seng ("Mr. Cheah") has notified the Board that he will retire voluntarily as a Director of the Company at the conclusion of the Company's forthcoming Annual General Meeting ("AGM") on 22 October 2024, as part of the Board's renewal process. Upon Mr. Cheah's retirement, he will cease to be the Chairman of the Board, Chairman of the Audit Committee ("AC") and Remuneration Committee ("RC"), as well as a member of the Nominating Committee ("NC"). The Board would like to record its gratitude and appreciation to Mr. Cheah for his invaluable contributions to Aspen over the years and wishes Mr. Cheah well in their future endeavours. |
| 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 | 20/06/2017 |
| 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.) | - Chairman and Independent Non-Executive Director - Chairman of Audit Committee - Chairman of Remuneration Committee - Member of Nominating Committee |
| Role and responsibilities | Chairman and Independent Non-Executive Director, Chairman of the Audit Committee and Remuneration Committee as well as a member of the Nominating Committee |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | No |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Direct Interest - 4,480,252 ordinary shares |
| Past (for the last 5 years) | None |
| Present | - Pan Asia Mortgage Co., Ltd. - SLEEP International Limited - Aktis Special Situations Management Limited - Aktis Financial Holdings SPC Limited - Good Partner Limited - China Light Point Logistics Ltd. - Stronghouse Financial Holdings Ltd. |