Investor Relations
Change - Announcement Of Cessation :: Cessation As Alternate Director
BackApr 14, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 14, 2025 19:57 |
| Status | New |
| Announcement Sub Title | Cessation as Alternate Director |
| Announcement Reference | SG250414OTHRD2TR |
| Submitted By (Co./ Ind. Name) | Anil Daryanani |
| Designation | Chief Financial Officer |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Mr. Ashmit Singh Thakral as Alternate Director to Mr. Kartar Singh Thakral, Executive Director of Thakral Corporation Ltd (the "Company"). |
| Additional Details | |
| Name Of Person | Ashmit Singh Thakral |
| Age | 36 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 30/04/2025 |
| Detailed Reason (s) for cessation | As part of the Board renewal process, Mr. Kartar Singh Thakral has expressed his intention to retire at the conclusion of the Company's Annual General Meeting to be held on 30 April 2025. Mr. Ashmit Singh Thakral shall cease as Alternate Director upon Mr. Thakral's retirement. |
| 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 | 01/03/2024 |
| 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 | 3 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Alternate Director |
| Role and responsibilities | Assist Mr. Kartar Singh Thakral on all his board, board committee and executive duties. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | - Executive Director, various subsidiary entities of the Company in Australia. - Grandson of the Company's Executive Director and controlling shareholder, Mr. Kartar Singh Thakral. - Son of the Company's CEO, Executive Director and controlling shareholder, Mr. Inderbethal Singh Thakral. - Brother of Mr. Satbir Singh Thakral, Executive Director of the Company's principal subsidiary, Thakral China Ltd. - Nephew of the Company's controlling shareholders, Mr. Gurmukh Singh Thakral, Mr. Karan Singh Thakral and Mr. Rikhipal Singh Thakral. - Cousin of (i) the Company's Non-Independent Non-Executive Director and controlling shareholder, Mr.Bikramjit Singh Thakral, and (ii) the Company's controlling shareholder, Mr. Indergopal Singh Thakral. |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | None |
| Present | Principal Commitments: 1. CFO and Director, GemLife Group of Entities 2. Director, Thakral Capital Holdings (Australia) Pty Ltd and its group of entities in Australia |