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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 2, 2025 19:21 |
| Status | New |
| Announcement Sub Title | Cessation of Executive Chairman |
| Announcement Reference | SG250102OTHR7BAJ |
| Submitted By (Co./ Ind. Name) | LIM KUAN MENG |
| Designation | LEAD INDEPENDENT DIRECTOR |
| Description (Please provide a detailed description of the event in the box below) | Dr Lin Yucheng (Dr Lin) will be stepping down as Executive Chairman with effect from 1st February 2025 and will be appointed as Emeritus Chairman and Senior Advisor of the Company. |
| Additional Details | |
| Name Of Person | Dr Lin Yucheng |
| Age | 62 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/02/2025 |
| Detailed Reason (s) for cessation | As part of the leadership renewal process of Leader Environmental Technologies Limited (Company) and its subsidiaries (Group), Dr Lin will be appointed as Emeritus Chairman and Senior Advisor and Mr Ngoo Lin Fong (Mr Ngoo) will be promoted as Executive Chairman with effect from 1st February 2025. The appointment of Dr Lin Yucheng (Dr Lin) and Mr Ngoo Lin Fong (Mr Ngoo) have been duly reviewed by the Nominating Committee. The Nominating Committee, together with the Board, have assessed that Dr Lin has played a pivotal role in reshaping the Group's strategic direction since 2020, successfully transforming it from a conventional waste management company into a forward-thinking and technology-driven organisation. As Emeritus Chairman and Senior Advisor, the Board is confident that Dr Lin will continue to provide valuable inputs, advice and feedback on the Group's business strategies, growth opportunities and technological innovations, as well as generously share his knowledge and experience on the Group's industry and its development. |
| 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 | 28/12/2020 |
| 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) | 4 |
| 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 Board |
| Role and responsibilities | Dr Lin is responsible for the strategic planning, providing guidance in the Group's executive of its transformation plans and business strategies. |
| 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? | Yes |
| Shareholding Details | 414,779,500 shares in Leader Environmental Technologies Limited |
| Past (for the last 5 years) | 1. Yarra Food Pte Ltd 2. Yarra Food (Shandong) Co., Ltd 3. Yarra Tuan Yuan Food Pte Ltd 4. Yarra Sanvy Pte Ltd |
| Present | 1. United Greentech Holdings Pte. Ltd 2. NTi Memtech Pte Ltd 3. Yarra Corporation Pte Ltd 4. BLP Capital Singapore Pte Ltd 5. BLP Capital Limited |