Hanwell : Changes to the composition of the Board

9/24/2020

General Announcement::Changes to the composition of the Board

GENERAL ANNOUNCEMENT::CHANGES TO THE COMPOSITION OF THE BOARD

Issuer & Securities

Issuer/ Manager

HANWELL HOLDINGS LIMITED

Securities

HANWELL HOLDINGS LIMITED - SG1V81937806 - DM0

Stapled Security

No

Announcement Details

Announcement Title

General Announcement

Date &Time of Broadcast

24-Sep-2020 22:38:17

Status

New

Announcement Sub Title

Changes to the composition of the Board

Announcement Reference

SG200924OTHRAO8X

Submitted By (Co./ Ind. Name)

Chew Kok Liang / Siau Kuei Lian

Designation

Joint Company Secretaries

Description (Please provide a detailed description of the event in the box below)

Please refer to the attachment.

Attachments

Hanwell - 24 Sep 2020_Changes of composition to Hanwell Board.pdf

Total size =100K MB

https://links.sgx.com/1.0.0/corporate-announcements/E7YMRAJRM4YASAVC/7347671fe6fed711d19a436f831f5b74b392292ff092dbf9e1d9b7ac71582… 1/1

HANWELL HOLDINGS LIMITED

(Company Registration No. 197400888M)

(Incorporated in the Republic of Singapore)

1. NOTIFICATION AND QUERIES FROM SINGAPORE EXCHANGE REGULATION ("SGX")

1. EXPLANATION FROM AND RESIGNATION OF DR ALLAN YAP

1. CHANGES TO THE COMPOSITION OF THE BOARD

The Board of Directors (the "Board") of Hanwell Holdings Limited (the "Company" and, together with its subsidiaries, the "Group") wishes to announce the following:-

1. Notification and queries from SGX
   The Company was notified on 23 September 2020 by Singapore Exchange Regulation that Master Glory Group Ltd, which is listed on The Stock Exchange of Hong Kong, has released an announcement on 24 August 2020 providing that Dr Allan Yap has been adjudged a bankrupt by the High Court of Hong Kong on 3 August 2020.

SGX has also raised queries which the Company will reply in our next announcement. .

1. Explanation from and resignation of Dr Allan Yap
   The Company requested for an explanation from Dr Allan Yap on 23 September 2020. The Company received the reply from Dr Allan Yap on 23 September 2020 stating that (i) he expressed his apology on his oversight to notify his updated status to the Company since he has been extremely busy engaged on his other personal commitments (ii) he would like to submit his resignation as an executive chairman of both Hanwell Holdings Limited and Tat Seng Packaging Group Limited with immediate effect and (iii) he confirmed that he has no disagreement with the board and there are no matters to be brought to the attention of the shareholders of both Hanwell and Tat Seng.
   The detailed template announcement on cessation pursuant to Rule 704(7) of the Listing Manual of the Singapore Exchange Securities Trading Limited containing the particulars of Dr Allan Yap had also been released separately via the SGXNet on 24 September 2020.

1. Changes to the Composition of the Board
   Following the cessation of Dr Allan Yap as the Executive Chairman of the Board, the Nominating Committee, in consultation with the Board, will be taking steps to source either internally or externally to fill the vacancy of the Chairman of the Board and shall determine the selection criteria for such position based on the skills and knowledge deemed necessary. The Company will be making relevant announcement(s) as and when required in relation to the appointment of a new Chairman of the Board.
   Subsequent to the aforesaid, the composition of the Board of the Company shall be as follows with effect from 23 September 2020:-
   Board of Directors
   Dr John Chen Seow Phun (Deputy Chairman, Non-Executive and Independent Director) Dr Tang Cheuk Chee (Executive Director)
   Mr Goi Kok Ming (Wei Guoming) (Non-ExecutiveDirector) Mr Kong WeiLi (Non-Executiveand Independent Director) Mr Siu Wai Kam (Non-Executiveand Independent Director)
   Mr Goh Yang Jun, Jasper (Non-Executive and Independent Director)

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There will be no changes to the composition of the Board Committees for the time being which remain as follow:

Audit Committee

Mr Kong WeiLi (Chairman)

Dr John Chen Seow Phun (Member)

Mr Siu Wai Kam (Member)

Mr Goh Yang Jun, Jasper (Member)

Remuneration Committee

Dr John Chen Seow Phun (Chairman) Mr

Kong WeiLi (Member)

Mr Siu Wai Kam (Member)

Mr Goh Yang Jun, Jasper (Member)

Nominating Committee

Dr John Chen Seow Phun (Chairman) Mr

Kong WeiLi (Member)

Mr Siu Wai Kam (Member)

Mr Goh Yang Jun, Jasper (Member)

Risk Management Committee

Mr Kong WeiLi (Chairman)

Dr Tang Cheuk Chee (Member)

Mr Siu Wai Kam (Member)

Mr Goh Yang Jun, Jasper (Member)

The Company will continue to keep its shareholders ("Shareholders") updated on any material developments on a timely basis.

Shareholders and potential investors are advised to read this announcement and any further announcements by the Company carefully. Shareholders are also advised to refrain from taking any action in respect of their securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company. In the event of any doubt, Shareholders and potential investors should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers.

By Order of the Board

Chew Kok Liang / Siau Kuei Lian

Joint Company Secretaries

24 September 2020

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