Change - Announcement Of Cessation Of Non-Independent Non-Executive Director
BackNov 01, 2016
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | Cessation of Non-independent Non-executive Director |
| Securities | CORDLIFE GROUP LIMITED (CORDLIFE) |
| Date & Time of Broadcast | Nov 1, 2016 19:58 |
| Submitted By | Dr Wong Chiang Yin Executive Director and Group CEO |
| Description | Announcement on Cessation of Mr Hu Minglie as a Non-independent Non-executive Director of the Company. |
| Cessation Details | |
| Name of person | Hu Minglie |
| Age | 34 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Nov 1, 2016 |
| Detailed reason(s) for cessation | Change in nominee director nominated by Kunlum Investment Holding Limited, a substantial shareholder. |
| 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 | Apr 29, 2016 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this 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 | 5 |
| Job Title | Non-independent Non-executive Director and a member of the Nominating Committee. |
| Role and responsibilities | Role and responsibilities of a Non-independent Non-executive Director and 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 subsidaries | Nil. |
| Shareholdings interest in the listed issuer and its subsidaries? | Yes |
| Shareholding Details | Hu Minglie is deemed interested in 55,509,400 shares held by Kunlum Investment Holding Limited as he holds a 56% controlling interest in Lighthouse Capital Management, LLC, the general partner of and controls Shanghai Yuanzhan Haolin Investment L.P. which owns 100% of LH Partner Assets Limited which in turn owns 95% of LH Capital I Limited which in turn owns 100% of Kunlum Investment Holding Limited. |
| Other directorships | |
| Past (for the last 5 years) | Nil. |
| Present | Xingye Copper International Group Ltd |