Change - Announcement of Cessation::Resignation of Lead Independent Director

Issuer & Securities

Issuer/ Manager
SINGAPORE O&G LTD. - SG1DG2000005 - 1D8
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Dec-2017 17:15:31
Announcement Sub Title
Resignation of Lead Independent Director
Announcement Reference
Submitted By (Co./ Ind. Name)
Dr Heng Tung Lan
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
This Announcement has been prepared by the Company and its content have been reviewed by the Company's Sponsor, Hong Leong Finance Limited ("the Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the SGX-ST ). 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 correctness of any of the statements or opinions made or reports contained in this Announcement.

The contact person for the Sponsor is Mr Tang Yeng Yuen, Vice-President, Head of Corporate Finance, at 16 Raffles Quay, #40-01A Hong Leong Building, Singapore 048581. Telephone number: (65) 6415 9886.

Additional Details

Name Of Person
Christopher Chong Meng Tak ("Mr Chong")
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
For personal reasons.

Based on its enquiries, the Company's Sponsor, Hong Leong Finance Limited, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Chong as the Lead Independent Director of Singapore O&G Ltd.
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?
If Yes, Please provide full details
Singapore O&G Ltd (the "Company") and Mr Chong have an ongoing dispute concerning the Company's claim for S$1.5 million from Mr Chong in relation to a transaction of the Company in which Mr Chong was involved.
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
If Yes, Please provide full details
Please see above.

The Company will make the relevant announcements where there are material developments.
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of Audit and Remuneration Committees, and Member of 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
Shareholding interest in the listed issuer and its subsidiaries?
Shareholding Details
0.04% (200,000 ordinary shares in the Company)
Past (for the last 5 years)
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