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2.4¢ icandy interactive limited

Ann: Resignation of Directors, page-31

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14/11/23

14:26

Post #: 70892608
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Originally posted by Sanami: ↑

The announcement can be interpreted in at least half a dozen ways, can you help me understand where we can ascertain they are treating the remainder of their contract as their notice period?

iCandy Interactive Ltd has today received and accepted the resignation of its directors, Ms Irene Wong (nominee director of Mr Cheng Fei Wong) and Mr Ka King Foong. Mr Wong and Mr Foong are respectively the CEO and COO of iCandy’s subsidiary Lemon Sky Animation Sdn Bhd (“LSA”).

ICI completed the acquisition of LSA in February 2022 and put in place a management contract retaining the services of Mr Wong and Mr Foong for three years. After spending more than 16 years in the business, and with approximately one remaining year left of the Management contract, Mr Wong and Mr Foong have now indicated they intend to retire from LSA. The

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they've stepped down from the Board of Directors of ICI, a position held for only 6 months

they have not yet relinquished their positions as CEO & COO of LSS, which are separate roles to being a director of ICI, but they indicated they intend to retire from LSS when the 3 years management contract ends in about 12 month's time

ICI Price at posting: 3.0¢ Sentiment: Buy Disclosure: Held
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