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Change - Announcement Of Retirement Of Executive Director, Optical Disc Business

BackNov 16, 2018
Announcement Title Change - Announcement of Cessation
Announcement Subtitle Retirement of Executive Director, Optical Disc Business
Securities CENTURION CORPORATION LIMITED (CENTURIO)
Date & Time of Broadcast Nov 16, 2018 18:01
Submitted By Kong Chee Min
Chief Executive Officer
Description Retirement of Executive Director, Optical Disc Business
Cessation Details
Name of person Lee Kerk Chong
Age 67
Is effective date of cessation known? Yes
Effective date for cessation Jan 1, 2019
Detailed reason(s) for cessation Mr Lee Kerk Chong ("Mr Lee") is the founder of the Company (formerly known as SM Summit Holdings Limited). He served as chairman and chief executive officer from 31 March 1984 to 1 August 2011 and as a member of the Board since 31 March 1984. He retired from the Board on 28 April 2015 but retains his executive role in managing the optical disc business segment.

Mr Lee will retire after overseeing the strategic planning and overall management of the Group's optical disc manufacturing operations for more than 30 years and having grown the business from a single factory producing audio cassette tapes into an integrated optical storage media solutions provider in the region.

The Board and Management would like to thank Mr Lee for his invaluable contribution to the Company, and extend their best wishes to him for the future.
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 Mar 31, 1984
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) 4
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, Optical Disc Business
Role and responsibilities Mr Lee is primarily responsible for the strategic planning and overall management of the optical disc manufacturing operations of the Group.
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries Mr Lee is the brother of Ms Lee Geok Ing Janice, the Group's Human Resources and Administration Manager and a Director of the Company's principal subsidiaries.
Shareholdings interest in the listed issuer and its subsidaries? Yes
Shareholding Details 18,094,771 ordinary shares in Centurion Corporation Limited
Other directorships
Past (for the last 5 years) 1) Centurion Accommodation (Australia) Pty Ltd
2) Centurion Corporation Limited
3) Oscar Studio Private Limited
4) SM Summit Holdings (HK) Limited
5) Yong Sing Trading Co Pte Ltd
Present 1) Advance Technology Investment Limited
2) SM Summit Holdings Pte Ltd
3) Summit CD Manufacture (HK) Limited
4) Summit Printing (Australia) Pty Ltd
5) Summit Technology Australia Pty Ltd
6) Sunlee Holdings Pte Ltd