News
Change - Announcement Of Cessation Of Chief Executive Officer
BackApr 29, 2025
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 29, 2025 17:35 |
| Status | New |
| Announcement Sub Title | Cessation of Chief Executive Officer |
| Announcement Reference | SG250429OTHRIXUZ |
| Submitted By (Co./ Ind. Name) | Wendy Tan Wei Lee |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Chief Executive Officer |
| Additional Details | |
| Name Of Person | Christopher Reid Borch |
| Age | 68 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 30/06/2025 |
| Detailed Reason (s) for cessation | As part of the succession planning of the Group, Mr Christopher Reid Borch ("Chris Borch") will step down as the Chief Executive Officer ("CEO") of the Company with effect from 30 June 2025 and Mr Kyle Christopher Borch ("Kyle Borch") will be promoted and appointed as the new CEO of the Company effect from 1 July 2025, in place of Chris Borch. Chris Borch will remain as the Executive Director and Chairman of the Company. |
| 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 | 01/07/2006 |
| 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 | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Chairman and Chief Executive Officer |
| Role and responsibilities | He is responsible for the overall management of the Group's strategy, business, operations and financial matters. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Yes, Chris Borch is the father of Kyle Borch. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Direct Interest: 22,524,913 ordinary shares of Micro-Mechanics (Holdings) Ltd. (including shares held in the name of the nominee, Citibank Nominees Singapore Pte. Ltd.) Deemed Interest: 37,860,256 ordinary shares of Micro-Mechanics (Holdings) Ltd. (deemed to be interested in 37,760,256 shares held by Sarcadia LLC and 100,000 shares held by his children (under joint tenant account) |
| Past (for the last 5 years) | Nil |
| Present | Nil |