Change - Announcement of Cessation::Resignation of Non-Executive Director - Mr Jeffrey Hing

Issuer & Securities

Issuer/ Manager
MARCO POLO MARINE LTD.
Securities
MARCO POLO MARINE LTD. - SG1W14938268 - 5LY
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Mar-2026 17:15:14
Status
New
Announcement Sub Title
Resignation of Non-Executive Director - Mr Jeffrey Hing
Announcement Reference
SG260331OTHRTRKO
Submitted By (Co./ Ind. Name)
Sean Lee Yun Feng
Designation
CEO
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Jeffrey Hing Yih Peir as a Non-Executive Director of Marco Polo Marine Ltd on 31 March 2026.

Additional Details

Name of person
Jeffrey Hing Yih Peir
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date.
31/03/2026
Detailed reason(s) for cessation
As Mr Jeffrey Hing's non-executive and non-independent position on the Board arose from Penguin International Limited's ("Penguin") original investment in 2018, with the partial divestment by Penguin of its investment in the Company and as part of its change of strategic direction, Mr Hing believes it would be appropriate for him to step down from the Board.
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
01/03/2018
Job title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director
Role and responsibilities
To provide oversight and guidance to the Board in his capacity as a Non-Executive Non-Independent Director.
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of independent directors currently resident in Singapore (taking into account this cessation)
3
Do independent directors make up at least one-third of the board (taking into account this cessation)?
Yes
Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months
0
Shareholding interest in the listed issuer and its subsidiaries
Yes
Shareholding details
As a percentage of total no. of ordinary voting shares/units:
Direct Interest Nil;
Deemed Interest 6.23% (243,571,428 shares).
The deemed interest arises through: (i) 60,714,284 shares held by Philip Securities Pte Ltd as nominee to Mr Jeffrey Hing; and (ii) 182,857,144 shares held by Penguin International Limited, in which Aleph Tav Ltd (of which Mr Hing owns 55%) holds a controlling
interest. The percentage is computed based on the Company's issued and paid-up shares (excluding 4,201,400 treasury shares) of
3,906,819,000 shares, rounded to the nearest 0.01%.
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Other Directorships
Past (for the last 5 years)
None
Present
1. Penguin International Limited
2. Trinity Offshore Pte Ltd
3. Agensea Pte Ltd
4. Singapore Christian Foundation Ltd
5. PT Trinity Offshore Services