Change - Announcement of Cessation::RETIREMENT OF NON-EXECUTIVE CHAIRMAN, INDEPENDENT DIRECTOR WHO IS AN AUDIT COMMITTEE CHAIRMAN

Issuer & Securities

Issuer/ Manager
POLARIS LTD.
Securities
POLARIS LTD. - SG1L96897898 - 5BI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
29-Apr-2016 17:41:40
Status
New
Announcement Sub Title
RETIREMENT OF NON-EXECUTIVE CHAIRMAN, INDEPENDENT DIRECTOR WHO IS AN AUDIT COMMITTEE CHAIRMAN
Announcement Reference
SG160429OTHR33CW
Submitted By (Co./ Ind. Name)
Ang Chuan Hui, Peter
Designation
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Stamford Corporate Services Pte Ltd, for compliance with the relevant rules of the SGX-ST. The Company's 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 Yap Wai Ming:
Tel: 6389 3000
Email: waiming.yap@morganlewis.com

Additional Details

Name Of Person
Tan Chung Yaw, Richard
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
29/04/2016
Detailed Reason (s) for cessation
Mr Tan Chung Yaw, Richard who does not wish to seek re-election pursuant to Article 86 of the Company's Constitution due to possible conflict of interests, will retire as a Director at the conclusion of the Annual General Meeting to be held on 29 April 2016. He will also cease as the Non-Executive Chairman, Chairman of the Audit and Remuneration Committees and member of the Nominating Committee.
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
26/07/2011
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Chairman, Independent and Non-Executive Director, Chairman of the AC and RC and member of the NC.
Role and responsibilities
Independent Non-Executive
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
550,000 ordinary shares in Polaris Ltd. (Direct Interest)

Mr Tan Chung Yaw, Richard is deemed to be interested in the 6,181,000 ordinary shares held by his spouse in Polaris Ltd. under Section 164 of the Companies Act (Cap. 50) by virtue of their spousal relationship.
Past (for the last 5 years)
Mig33 Inc
Present
Asia Pay Television Trust
MyRepublic Ltd
Efflam Singapore Pte. Ltd.