General Announcement::Resignation of Group CEO Re-designation of Act... | https://links.sgx.com/1.0.0/corporate-announcements/DDKFKXYQG8N... | ||||||||||||
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ENVICTUS INTERNATIONAL HOLDINGS LIMITED
(Company Registration No: 200313131Z)
- RESIGNATION OF GROUP CHIEF EXECUTIVE OFFICER
- RE-DESIGNATIONOF ACTING GROUP CHIEF EXECUTIVE OFFICER TO GROUP CHIEF EXECUTIVE OFFICER
- RE-DESIGNATIONOF INDEPENDENT NON-EXECUTIVE DIRECTOR TO NON- INDEPENDENT NON-EXECUTIVE DIRECTOR
The Board of Directors (the "Board") of Envictus International Holdings Limited (the "Company") refers to its announcements dated 13 February 2020 in relation to the leave of absence by Mr Khor Sin Kok, the Group Chief Executive Officer and the re-designation of Dato' Kamal Y P Tan from Non- Executive Director and Adviser to Acting Group Chief Executive Officer on 1 April 2020.
The Board wishes to announce the following :-
- Mr Khor Sin Kok has tendered his resignation and will cease to be the Group Chief Executive Officer on 1 October 2020, following the expiry of his leave of absence on 30 September 2020. The Board would like to express its appreciation and heartfelt thanks to Mr Khor for his contribution during his tenure with the Company.
- Dato' Kamal Y P Tan, the Acting Group Chief Executive Officer, is re-designated to Group Chief Executive Officer with effect from 1 October 2020.
- Mr Mah Weng Choong is re-designated from an Independent Non-Executive Director to a Non- Independent Non-Executive Director with effect from 1 October 2020. The reason for the re- designation is due to the total consultancy fee received by Mr Mah of RM211,000 (approximately SGD70,000*) for the financial year ending 30 September 2020 from a wholly-owned subsidiary of the Group, Motivage Sdn Bhd. The said amount which is in excess of SGD50,000 is deemed significant for purpose of determining the director's independence in accordance with the Code of Corporate Governance 2018.
The details on the resignation of Mr Khor Sin Kok as a Group Chief Executive Officer of the Company as required under Rule 704(7) of the Mainboard Listing Rules of Singapore Exchange Securities Trading Limited ("SGX-ST") are contained in separate announcement made today.
BY ORDER OF THE BOARD
ENVICTUS INTERNATIONAL HOLDINGS LIMITED
DATO' JAYA J B TAN
Chairman
29 September 2020
*Based on exchange rate of SGD1.00 to RM3.024 as at 28 September 2020.