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Announcement Of Cessation As Executive Director
BackJul 23, 2013
| Resignation Details | |
| Name Of Person | Chan Huan Yong |
| Age | 45 |
| Is Effective Date Of Cessation Known? | Yes |
| Effective Date Of Cessation | 22/07/2013 |
| Detailed Reason(s) for Cessation | Resignation |
| Is there any difference of opinion on material matters between the person and the Board of directors? | Yes |
| If yes, please elaborate | I am disappointed over the turn of events leading up to the shareholders' resolution to remove Mr. Jimmy Tan and expect to have differences in views in the management of the Group's businesses when working with the new board. |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | Yes |
| If yes, please elaborate | Certain distribution agreements entered into by the Group's subsidiaries contain change of management provisions whereby the counter parties may terminate the agreements with immediate notice. Further to the requisition to remove Mr Jimmy Tan, my understanding is that the proposed appointment of Mr Ng Keng Sing is to replace Mr Tan. Prior to the EGM, the requisitioning members did not attempt to introduce Mr Ng to me, nor tried to understand TAT's business. I was also not informed of their plans for the Company. As such, I understand that my views and my vision for the company may no longer be valued after the new members join the board, and am tendering my resignation as a result. |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| If yes, please elaborate | NA |
| Date of Appointment to current position | 20/08/2010 |
| Job Title | Executive Director |
| Role and Responsibilities | Mr Chan's responsibilities include the development of strategic directions, overseeing corporate development projects, supervising the day-to-day operations and finance division, developing overseas markets and setting sales objectives. |
| Does the AC have a minimum of 3 members (taking into account this resignation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 3 |
| Number of Cessations of Appointments specified in Listing Rule 704(7) over the past 12 months | 2 |
| Shareholding in the listed issuer and its subsidiaries | Nil |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Other Directorship | |
| Past Directorship (for the last five years) | None |
| Present Directorship | TAT Petroleum Pte Ltd TAT Petroleum (Guangzhou) Trading Co. Ltd TAT Petroleum (HK) Pte Ltd TAT Petroleum Vietnam Co. Ltd TAT Korea Petroleum Co. Ltd |