| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jul 14, 2021 20:40 |
| Status | New |
| Announcement Sub Title | Retirement of Lead Independent Non-Executive Director |
| Announcement Reference | SG210714OTHRRZYX |
| Submitted By (Co./ Ind. Name) | Seow Soon Yong |
| Designation | Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Mr Goon Kok Loon as the Lead Independent Non-Executive Director. |
| Additional Details | |
| Name Of Person | Goon Kok Loon |
| Age | 79 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/07/2021 |
| Detailed Reason (s) for cessation | After serving the Board of the Company for over 17 years, Mr Goon Kok Loon has decided to retire as an Independent Director of the Company at the forthcoming Annual General Meeting in order to reduce his work commitments and pursue other personal interests. |
| 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 | 15/07/2003 |
| 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 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Non-Executive Director, Chairman of the Audit Committee as well as a member of the Remuneration Committee and Nominating Committee. |
| 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 | None |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | (1) Venture Corporation Limited (2) Regal International Group Ltd. (3) Global Maritime Services Pte. Ltd. |
| Present | None |