Announcement Of Cessation As Independent Director Who Is An Audit Committee Member
25 January 2011
|Name Of Person||Mr. Lim How Teck|
|Is Effective Date Of Cessation Known?||Yes|
|Effective Date Of Cessation||25/01/2011|
|Detailed Reason(s) for Cessation||Mr. Lim How Teck retired by rotation pursuant to the Company's Articles of Association at Annual General Meeting No. 01/2011 held on 25 January 2011. Although he was eligible for re-election, he did not seek re-election due to other work commitments and to allow the Company to renew its Board composition as a matter of good corporate governance practice.|
|Is there any difference of opinion on material matters between the person and the Board of directors?||No|
|If yes, please elaborate||NA|
|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|
|If yes, please elaborate||NA|
|Any other relevant information to be provided to shareholders of the listed issuer?||Yes|
|If yes, please elaborate||The Company would like to record its appreciation to Mr. Lim, who has been a Director of the Company prior to the initial public offering. We thank him for his contributions and insights over the past few years and wish him well.|
|Date of Appointment to current position||26/06/2007|
|Job Title||Independent Non-Executive Director and Audit Committee Member|
|Role and Responsibilities||The duties, roles and responsibilities of an Independent Director and a member of the Audit Committee.|
|Does the AC have a minimum of 3 members (taking into account this resignation)?||No|
|Number of Independent Directors currently resident in Singapore (taking into account this cessation)||2|
|Number of Cessations of Appointments specified in Listing Rule 704(7) over the past 12 months||Five (5) inclusive of this announcement.|
|Shareholding in the listed issuer and its subsidiaries||None.|
|Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries||None.|
|Past Directorship (for the last five years)||SP PowerGrid Ltd.
Pacific King Shipping Holding Ltd.
PSA Marine (Pte) Ltd.
FHTK Holdings Ltd.
Sequoia Capital/Master Fund
Asia Pacific Resource Growth Fund Ltd.
UMS Holdings Ltd.
Singapore Commodity Exchange (SICOM)
Unitech Office Fund Trustee Pte. Ltd.
Orangestar Investment Holdings Pte. Ltd.
M&C REIT Management Ltd/M&C Business Trust Management Ltd. (CDL Hospitality Trusts)
AIMS AMP Capital Industrial REIT Management Ltd.
Japan Industrial Property Pte. Ltd.
Philip Resources Fund Special Purpose Company
Eng Kong Holdings Ltd.
Gold Prime Holdings Ltd.
Lasseters International Holdings Limited
|Present Directorship||IFS Capital Limited
PNG Sustainable Development Program Limited
Redwood International (Pte) Ltd.
Jurong Port Pte. Ltd.
Certis CISCO Security Pte. Ltd.
Rickmers Trust Management Pte. Ltd.
ARA Asset Management Limited
Tuas Power Ltd.
CISCO Recall Total Information Management Pte. Ltd.
The Foundation for Development Cooperation (Singapore) Ltd.
The Foundation for Development Cooperation
The Foundation for Development Cooperation (Pacific)
ACAL Holdings Pte. Ltd.
ACAL Underwriting Services Pte. Ltd.
Tuas Power Generation Pte. Ltd.
ACAL Underwriting Limited
Accuron Technologies Limited
ARA-CWT Trust Management (Cache) Limited
Swissco Holdings Ltd.
Horsburgh Maritime Pte. Ltd.
Horsburgh Maritime Investment Pte. Ltd.
Horsburgh Maritime International Pte. Ltd.
|Footnotes||It is the intention of the Board of Directors to appoint another member of the Board onto the Audit Committee at the next meeting of the Board of Directors in order to satisfy the minimum number of three (3) members pursuant to the Singapore Code of Corporate Governance and in compliance with Rule 704(8) of the Listing Manual of the SGX-ST.|