ANNOUNCEMENT OF APPOINTMENT OF EXECUTIVE DIRECTOR

* Asterisks denote mandatory information

Name of Announcer *: NICO STEEL HOLDINGS LIMITED
Company Registration No.: 200104166D
Announcement submitted on behalf of: NICO STEEL HOLDINGS LIMITED
Announcement is submitted with respect to *: NICO STEEL HOLDINGS LIMITED
Announcement is submitted by *: TAN CHEE KHIONG
Designation *: CHAIRMAN AND PRESIDENT
Date & Time of Broadcast: 16-Feb-2014 19:42:15
Announcement No.: 00002

ANNOUNCEMENT DETAILS

The details of the announcement start here ...
Name of person *: GAO ANG
Age *: 44
Country of principal residence *: China
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) *: The Board refers to the placement agreement entered into between the Company and Bay Eagle Ventures Limited dated 19 January 2014 ("Bay Eagle") which was announced on the same day. Pursuant to the terms of the said placement agreement, Mr Gao Ang shall be appointed as executive director of the Company upon the completion of the Placement. Mr Gao Ang brings with him a wealth of experience in the minerals market which is useful for the Company's proposed venturing upstream into the minerals and resources business. Please refer to the working experience of Mr Gao Ang as provided below.

Whether appointment is executive, and if so, the area of responsibility *

The appointment is executive. Mr Gao Ang is responsible to head the feasibility study for the Company to venture upstream into the mineral and resources business.

Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)

Executive Director

Working experience and occupation(s) during the past 10 years *

Mr Gao Ang has more than 20 years' investment and trading experience, including a decade with Wall Street firms. He was formerly the director and chief operating officer of CITIC Carbon Assets Management Co. Ltd, which was engaged in principal investment, financial product development and carbon consulting, and held the position from 2010 to 2013. He has also since 2010 been a member of the Rogers Global Resources Equity Index Committee, and was involved in the development of the Index comprising resources-related companies with Mr Jim Rogers.
Mr Gao started his career as a senior research analyst in JP Morgan in 1999 and was a senior member of the institutional investor (II) ranked credit research team which covered a variety of industry sectors, including retail, manufacturing and natural resources. He left JP Morgan in 2004, and thereafter, worked in various asset management firms and hedge funds in the capacities of research analyst, trader, assistant portfolio manager and managing member. He focused primarily on emerging and frontier markets investment and trading opportunities, including oil and gas, natural resources, technology, media and telecommunications, as well as infrastructure.

Interest * in the listed issuer and its subsidiaries *

13,000,000 odinary shares

Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries *

Conflict of interests (including any competing business) *

OTHER DIRECTORSHIPS

Past (for the last 5 years) *: CITIC Carbon Assets Management Limited
CCAM Capital Limited
CITIC Carbon Assets Management (Tianjin) Co. Limited
CITIC Carbon Venture Investment (Xinjiang) Co. Limited
Kashgar Development & Investment Holdings Co. Limited
Present: Bay Eagle Ventures Limited
Sino Neoenergy Capital Holding Limited
Astrella Capital Management LLC
ACCE International Management Limited

INFORMATION REQUIRED PERSUANT TO LISTING RULE 704(7)(H)

Disclose the following matters concerning an appointment of director, chief executive officer, general manager or other executive officer of equivalent rank. If the answer to any questions is "yes", full details must be given.
(a)* Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner?: No
(b)* Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency?: No
(c)* Whether there is any unsatisfied judgment against him?: No
(d)* Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose?: No
(e)* Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach?: No
(f)* Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part?: No
(g)* Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust?: No
(h)* Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust?: No
(i)* Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity?: No
(j)* Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-
(i)* any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or: No
(ii)* any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or: No
(iii)* any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or: No
(iv)* any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust?: No
(k)* Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere?: No

INFORMATION REQUIRED PERSUANT TO LISTING RULE 704(7)(I)

Disclosure applicable to the appointment of Director only.

Any prior experience as a director of a listed company?

If no, please provide details of any training undertaken in the roles and responsibilities of a director of a listed company.

The Company will arrange for Mr Gao Ang to attend seminars and courses conducted by the Singapore Institute of Directors on the roles and responsibilities of a director of a listed company.

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