|Name Of Person||Richard Lee ("Mr. Lee")|
|Is effective date of cessation known?||Yes|
|If yes, please provide the date||30/09/2016|
|Detailed Reason (s) for cessation||Mr. Lee resigns as Head of Business Development of the Group and will be appointed as a director of Spackman Media Group Limited, an associated company of Spackman Entertainment Group Limited (the "Company"). |
Based on its enquiries, the Company s sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that, save as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Lee as Head Business Development of the Group.
|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?||Yes|
|If Yes, Please provide full details||In connection with the recent restructuring of the Company, in particular, the disposal of the Company's entire equity interest in its indirect wholly-owned subsidiary, Opus Pictures Limited Liability Company, and indirect 51.50% subsidiary, UAA Korea Co., Ltd., which was completed in August 2016, the Company's operations have been streamlined. |
Mr. Lee is resigning as the Head of Business Development of the Group as part of the streamlining process. Following the restructuring and streamlining of operations, the Company does not see a need to have a Head of Business Development for the Group at this juncture but will search for a suitable candidate should the need arise going forward.
|Date of Appointment to current position||01/10/2013|
|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)||2|
|Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months||4|
|Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)||Head of Business Development |
|Role and responsibilities||As Head of Business Development of the Group, Mr. Lee is primarily responsible for building the Group's market position by locating, developing, negotiating and closing business relationships and opportunities. |
|Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries||No|
|Shareholding interest in the listed issuer and its subsidiaries?||No|
|Past (for the last 5 years)||None |
|Present||Director of Spackman Equities Group Inc. |
Managing Director of Spackman Group Limited
Director of Spackman Media Korea Inc.