News
Back

12 Apr 2024

Change - Announcement of Cessation::Retirement of Independent Director

Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
FUXING CHINA GROUP LIMITED
Securities
FUXING CHINA GROUP LIMITED - BMG3705H2069 - AWK
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
12-Apr-2024 18:04:02
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG240412OTHRBAP7
Submitted By (Co./ Ind. Name)
Hong Qing Liang
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Qiu Qing Yuan as Independent Director

Additional Details

Name Of Person
Qiu Qing Yuan
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2024
Detailed Reason (s) for cessation
Mr. Qiu Qing Yuan ("Mr. Qiu"), who is retiring pursuant to Bye-law 86 of the Company's Bye-laws, will not be seeking re-election as a Director of the Company at the Company's forthcoming Annual General Meeting ("AGM") to be held on 29 April 2024.

Mr. Qiu has served on the Board for more than nine (9) years. In view of the nine-year tenure limit for Independent Directors prescribed under the Singapore Exchange Securities Trading Limited Listing Manual, Mr. Qiu has decided to step down and not seek for re-election as a Director at the forthcoming AGM to facilitate Board renewal.

Accordingly, Mr. Qiu will retire from his role as Independent Director of the Company and relinquish his position as Chairman of the Nominating Committee, and a member of the Audit Committee and Remuneration Committee upon the conclusion of the AGM.

The Company will release an updated announcement on the updated Board and the respective Board Committees' composition when it has been finalised.

The Company would like to express its gratitude and appreciation for Mr. Qiu's valuable contributions to the Board during his tenure as Independent Director of the Company.
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
03/08/2007
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
- Chairman of the Nominating Committee
- Member of the Audit Committee and Remuneration Committee
Role and responsibilities
- Chairman of the Nominating Committee
- Member of the Audit Committee and Remuneration Committee
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?
No
Other Directorships
Past (for the last 5 years)
Nil
Present
Vice General Manager, Xiamen Xianxin Investment Group Co., Ltd