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Change - Announcement Of Resignation Of Independent Director

BackDec 01, 2017
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Dec 1, 2017 18:16
Status New
Announcement Sub Title Resignation of Independent Director
Announcement Reference SG171201OTHRZPDM
Submitted By (Co./ Ind. Name) Dr Diao Weicheng
Designation Executive Chairman
Description (Please provide a detailed description of the event in the box below) Resignation of Mr Chong Teck Sin ("Mr Chong") as Independent Director, Chairman of the Audit Committee, and member of the Nominating Committee and Remuneration Committee of AVIC International Maritime Holdings Limited (the "Company").

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Continuing Sponsor, Stamford Corporate Services Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Ng Joo Khin:
Telephone: (65) 6389 3000
Email: jookhin.ng@morganlewis.com
Additional Details
Name Of Person Chong Teck Sin
Age 62
Is effective date of cessation known? Yes
If yes, please provide the date 01/12/2017
Detailed Reason (s) for cessation Mr Chong is resigning to pursue his own personal interests.

Following Mr Chong's resignation, the Board and the Nominating Committee are currently in the process of reviewing its composition and membership and the membership of the Board committees to ensure compliance with the Code of Corporate Governance (including but not limited to meeting the minimum requirement of Principle 2 (Guideline 2.2) which provides that independent directors should make up at least half of the Board) and to fill the vacancy in the Audit Committee to meet the requirement on the minimum number of not less than three Audit Committee members within two months, but in any case not later than three months, from 1 December 2017 as stipulated under Rule 704(7) of the Catalist Rules.

Stamford Corporate Services Pte. Ltd., having interviewed Mr Chong, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Chong.
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 18/04/2011
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) 1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Independent Director, Chairman of the Audit Committee, and member of the Nominating Committee and Remuneration Committee.
Role and responsibilities Independent Director, Chairman of the Audit Committee, and member of the Nominating Committee and Remuneration Committee.
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) Blackgold International Holdings Ltd
Present 1) Changan Minsheng APLL Logistics Co., Ltd.
2) Civmec Ltd.
3) InnoTek Ltd.
4) Accordia Golf Trust Management Pte. Ltd. (trustee-manager of Accordia Golf Trust)
5) Civmec Construction & Engineering Singapore Pte. Ltd.