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Change - Announcement Of Retirement Of Independent Director

BackSep 24, 2020
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Sep 24, 2020 18:07
Status New
Announcement Sub Title Retirement of Independent Director
Announcement Reference SG200924OTHR02IQ
Submitted By (Co./ Ind. Name) Wong Chi Cheung, Clarence
Designation Financial Controlle / Joint Company Secretary
Description (Please provide a detailed description of the event in the box below) The Board of Directors of Karin Technology Holdings Limited (the "Company") wishes to announce the retirement of Prof. Ng Tung Sang as Independent Director of the Company at the forthcoming Annual General Meeting ("AGM").
Additional Details
Name Of Person Ng Tung Sang
Age 72
Is effective date of cessation known? Yes
If yes, please provide the date 23/10/2020
Detailed Reason (s) for cessation Prof. Ng Tung Sang is not seeking re-election and will retire as Independent Director of the Company after the conclusion of the AGM as part of board rejuvenation, having served on the Board for more than 9 years.
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 20/01/2005
Does the AC have a minimum of 3 members (taking into account this cessation)? No
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.) Independent Director, Chairman of Nominating Committee and a member of Remuneration Committee and Audit and Risk Management Committee.
Role and responsibilities Fulfilling the responsibilities of an Independent Director.
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 100,000 ordinary shares registered under DBS Bank (Hong Kong) Limited
Past (for the last 5 years) NIL
Present NIL