| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | May 28, 2020 18:11 |
| Status | New |
| Announcement Sub Title | Retirement of Independent Director and Chairman of the Audit Committee |
| Announcement Reference | SG200528OTHR7SLE |
| Submitted By (Co./ Ind. Name) | Chang Cheng-Hsing Francis |
| Designation | Group CEO & Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Independent Director, Chairman of the Audit Committee and member of the Nominating and Remuneration Committees |
| Additional Details | |
| Name Of Person | Abbasbhoy Haider Nakhoda |
| Age | 79 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 28/05/2020 |
| Detailed Reason (s) for cessation | Mr Abbasbhoy Haider Nakhoda has decided not to seek re-election at the Annual General Meeting ("AGM") held by way of electronic means on 28 May 2020 and has retired as an Independent Director at the conclusion of the AGM pursuant to Regulation 106 of the Company's Constitution. Upon his cessation as Independent Director, Mr Abbasbhoy Haider Nakhoda has also ceased to be the Chairman of the Audit Committee and member of the Nominating and Remuneration Committees. |
| 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 | 17/06/1997 |
| 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) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director, Chairman of the Audit Committee and member of the Nominating and Remuneration Committees |
| Role and responsibilities | As above |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | NIL |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | NIL |
| Present | NIL |