Change - Announcement Of Resignation Of Independent Director

BackAug 30, 2018
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Aug 30, 2018 17:44
Status New
Announcement Reference SG180830OTHR45ZN
Submitted By (Co./ Ind. Name) Lim Poh Choo
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) Resignation of Lt. Gen (Ret) Ng Jui Ping ("General Ng") as an independent director. Upon resignation as the independent director, General Ng ceased to be the chairman of the remuneration committee ("RC"), a member of the audit committee ("AC") and a member of the risk management committee ("RMC").
Additional Details
Name Of Person Ng Jui Ping
Age 69
Is effective date of cessation known? Yes
If yes, please provide the date 31/08/2018
Detailed Reason (s) for cessation General Ng served as an independent director of the Company for 12 years and he is stepping down from the board of directors ("Board") of the Company in the interests of Board rejuvenation. The Company expresses its gratitude to General Ng for his valuable contributions to the Company during his tenure of service.
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 20/09/2006
Does the AC have a minimum of 3 members (taking into account this cessation)? No
Number of Independent Directors currently resident in Singapore (taking into account this cessation) 3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) independent director, the chairman of the RC, a member of the AC and a member of the RMC
Role and responsibilities Assumed the roles and responsibilities of an independent director, the chairman of the RC, a member of the AC and a member of the RMC
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries None
Shareholding interest in the listed issuer and its subsidiaries? Yes
Shareholding Details 100,000 ordinary shares of the Company
Past (for the last 5 years) Nil
Present 1) Pacific Andes Resources Development Limited

2) Singapore Shipping Corporation Limited

3) August Asia Consulting Pte. Ltd.

4) August Nanyang Holdings Pte Ltd

5) August Technologies Pte Ltd

6) August SG Capital Pte Ltd