Change - Announcement of Cessation::Appendix 7G: Announcement of Cessation

Issuer & Securities

Issuer/ Manager: DECLOUT LIMITED
Securities: DECLOUT LIMITED - SG2F27986197 - 5UZ
Stapled Security: No

Announcement Details

Announcement Title: Change - Announcement of Cessation
Date &Time of Broadcast: 22-Nov-2016 18:31:42
Status: New
Announcement Sub Title: Appendix 7G: Announcement of Cessation
Announcement Reference: SG161122OTHR7C5E
Submitted By (Co./ Ind. Name): Wong Kok Khun
Designation: Chairman and Group Chief Executive Officer
Description (Please provide a detailed description of the event in the box below): Please refer to the section below.

Additional Details

Name Of Person: Cheng Mun Yip Marcus
Age: 36
Is effective date of cessation known?: Yes
If yes, please provide the date: 22/11/2016
Detailed Reason (s) for cessation: Cheng Mun Yip Marcus ( Mr Marcus Cheng ) is the Chief Executive Officer of Acclivis Technologies and Solutions Pte. Ltd. ( Acclivis ). He shall cease to be an Executive Officer of DeClout Limited (the Company ) following the completion of the sale of the entire issued share capital of Acclivis to CITIC Consultancy 1616 Limited on 22 November 2016.

SAC Advisors Private Limited, after having interviewed Mr Marcus Cheng, is satisfied that other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Marcus Cheng as an Executive Officer of the Company.
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: 15/04/2013
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: 3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.): Chief Executive Officer of Acclivis
Role and responsibilities: Mr. Cheng is responsible for Acclivis business development and growth and to drive its strategic plan. He is also responsible for overseeing the daily operations of the Acclivis business in the regions it operates.
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?: Yes
Shareholding Details: 1,600,000 shares in DeClout Limited
Past (for the last 5 years): Nil.
Present: (a) Pacific Internet (S) Pte. Ltd. (formerly known as OSINet Communications Pte. Ltd.);
(b) PT Acclivis Technologies and Solutions;
(c) Acclivis Technologies (Thailand) Limited;
(d) Acclivis Solutions (Thailand) Limited;
(e) Pacific Internet (Thailand) Limited (formerly known as Pacnet Internet (Thailand) Limited);
(f) World Net & Services Co., Ltd
(g) Acclivis.

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