Company Briefs: Alliance Mineral Assets

Alliance Mineral Assets

Catalist-listed miner Alliance Mineral Assets yesterday said its chief financial officer Shaun Menezes resigned last month to "pursue other career opportunities", and that the late lodgement of the announcement was due to an "administrative oversight".

Mr Menezes served as the company's CFO for slightly more than a year since Nov 21, 2017, and resigned with effect from Jan 14.

Over the past 12 months, there have been seven cessations of appointments related to key personnel in the company, a regulatory filing yesterday showed.

Nonetheless, in its filing with the Singapore bourse, Alliance Mineral Assets noted that its sponsor, PrimePartners Corporate Finance, is satisfied that there are no material reasons for the cessation of Mr Menezes' appointment, other than those disclosed in its announcement.

"In addition, there are no concerns with regard to the financial reporting that led to the departure of Mr Menezes, and there are no disagreements between Mr Menezes and the company's board of directors with regard to the practices that will have an impact on the company's financial reporting," the company said.

Mr Menezes was responsible for the group's finance and accounting functions. He was also in charge of overseeing the group's financial operations, treasury and tax activities.

Mr Craig Hasson, CFO of Alliance Mineral Asset's subsidiary, Tawana Resources NL, is currently undertaking the roles and responsibilities of Mr Menezes, who owns some 1.125 million shares in the company.

China Everbright Water

Mainboard-listed China Everbright Water moved one step closer to a dual listing in Hong Kong. On Tuesday, the firm submitted draft application proofs with the Stock Exchange of Hong Kong ahead of a planned listing on its mainboard.

The expected timetable and other details on the offering will be disclosed only after the final prospectus is registered.

China Everbright Water, which builds and manages water treatment plants, was listed in Singapore in 2014 through the acquisition of HanKore via a reverse takeover.

The group said that from 2015 to 2017, the growth rates of its revenue and net profit were one of the highest compared with companies listed in Hong Kong with a similar business scope. China International Capital Corporation Hong Kong Securities and China Everbright Capital are the joint sponsors for the Hong Kong listing.

A version of this article appeared in the print edition of The Straits Times on February 28, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe