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Change - Announcement Of Redesignation To Chief Strategy And Business Development Officer
Jan 09, 2025
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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 9, 2025 17:32 |
| Status | New |
| Announcement Sub Title | REDESIGNATION TO CHIEF STRATEGY AND BUSINESS DEVELOPMENT OFFICER |
| Announcement Reference | SG250109OTHRIX0J |
| Submitted By (Co./ Ind. Name) | PANG YOKE MIN |
| Designation | EXECUTIVE CHAIRMAN |
| Description (Please provide a detailed description of the event in the box below) | Redesignation to Chief Strategy and Business Development Officer. |
| Additional Details | |
| Name Of Person | Pang Wei Kuan, James |
| Age | 42 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 09/01/2025 |
| Detailed Reason (s) for cessation | That the Nominating Committee, after due consideration of the strategic focus of the Group and the current duties and responsibilities assumed by Mr. Pang Wei Kuan, James ( "Mr. Pang" ) as Chief Executive Officer, recommends that Mr. Pang Wei Kuan, James, be re-designated as Chief Strategy and Business Development Officer to concentrate on long-term strategy as well as new business opportunities, partnerships and revenue streams for the Group. The key responsibilities of Mr. Pang include: 1. Identifying new market opportunities and competitive advantages and setting out growth for the Group. 2. Analyzing industry trends and adjusting strategies based on market developments and data. 3. Building relationships with investors, potential clients, partners, and other relevant stakeholders. 4. Leading negotiations for mergers and acquisitions. 5. Expanding market presence through strategic partnerships or alliances. 6. Overseeing the execution of business development initiatives. |
| 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 | 14/01/2020 |
| 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) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Executive Officer |
| Role and responsibilities | Duties as Chief Executive Officer |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Yes. Son of Mr Pang Yoke Min, Executive Chairman and substantial shareholder of the Company. Brother of Mr Pang Wei Meng, Executive Director of the Company. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Owns 45,273,160 ordinary shares in Pacific Radiance Ltd. and 308,738 management warrants |
| Past (for the last 5 years) | Please see "Annexure A" as per attached |
| Present | Please see "Annexure A" as per attached |
Attachments
- Annexure A (Size: 30,310 bytes)
