| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Aug 30, 2018 17:44 |
| Status | New |
| Announcement Sub Title | RESIGNATION OF INDEPENDENT DIRECTOR |
| 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 |