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24 Aug 2016

Change - Announcement Of Retirement Of Executive Director And Chief Executive Officer

Announcement Title Change - Announcement of Cessation
Announcement Subtitle Retirement of Executive Director and Chief Executive Officer
Securities UG HEALTHCARE CORPORATION LTD (UGHEALTH)
Date & Time of Broadcast Aug 24, 2016 19:56
Submitted By Sharon Yeoh
Company Secretary
Description Retirement of Executive Director and Chief Executive Officer

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Tan Pei Woon (telephone no.: (65) 65323829) at 1, Robinson Road, #21-02 AIA Tower, Singapore 048542.
Cessation Details
Name of person Ang Beng Teck
Age 69
Is effective date of cessation known? Yes
Effective date for cessation Oct 19, 2016
Detailed reason(s) for cessation Mr Ang Beng Teck, Executive Director and Chief Executive Officer, has confirmed to the Board that he will retire and in connection thereto he will not offer himself for re-election as Director at the Company's forthcoming annual general meeting to be held on 19 October 2016. He will also relinquish his position as the Chief Executive Officer on the same day.

To facilitate a smooth transition, Mr Ang Beng Teck will assume an advisory role in the Group following his retirement as Executive Director and Chief Executive Officer.

The Company's Sponsor, SAC Capital Private Limited has contacted Mr Ang Beng Teck and based on its enquiries, the Company's Sponsor is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Ang Beng Teck as the Executive Director and Chief Executive Officer.
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 Sep 30, 2014
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 0
Job Title Executive Director and Chief Executive Officer
Role and responsibilities Oversees:
(i) the formulation of the overall business and corporate policies and strategies of the Group
(ii) the overall management of the business and operations of the Group
(iii) the Group's overall business development
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries Mr Ang Beng Teck is the brother of Mr Ang Beng Yong, a Director of the Company's subsidiaries.
Shareholdings interest in the listed issuer and its subsidaries? Yes
Shareholding Details Direct Interest - 28,145,710 ordinary shares
Other directorships
Past (for the last 5 years) 1. NW Medical Disposable Products Sdn. Bhd.
2. UG Development Sdn. Bhd.
Present 1. N.S. Uni-Gloves Sdn. Bhd.
2. UG Global Resources Sdn. Bhd.
3. UG Glovetech Sdn. Bhd.
4. Unigloves (UK) Limited
5. UG Healthcare (USA), Inc.
6. UGHC Marketing Pte. Ltd.