Change - Announcement of Cessation::CESSATION OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
PACIFIC STAR DEVELOPMENT LIMITED
Securities
PACIFIC STAR DEVELOPMENT LTD - SG1DE5000007 - 1C5
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Aug-2017 17:56:54
Status
New
Announcement Sub Title
CESSATION OF INDEPENDENT DIRECTOR
Announcement Reference
SG170831OTHRASVN
Submitted By (Co./ Ind. Name)
GLEN CHAN
Designation
CEO AND MANAGING DIRECTOR
Description (Please provide a detailed description of the event in the box below)
CESSATION OF INDEPENDENT DIRECTOR

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital Private 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. Sebastian Jones, SAC Capital Private Limited at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542. Telephone number: +65 6532 3829. SAC Capital Private Limited is the parent company of SAC Advisors Private Limited.

Additional Details

Name Of Person
LOW SIEW SIE BOB
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
31/08/2017
Detailed Reason (s) for cessation
Mr Bob Low Siew Sie ("Mr Low") had expressed his desire to step down as a board member of the Company and to pursue other opportunities.

The Sponsor, after having interviewed Mr Low, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr Low as an Independent Director of the Company.

The Company expresses its gratitude to Mr Low for his valuable contributions during his tenure of service.
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
30/11/2005
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman of Audit Committee, Member of Nominating Committee and Remuneration Committee
Role and responsibilities
Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
24,000 unissued ordinary shares under the LHG Employee Share Option Scheme
Past (for the last 5 years)
Autotrax International Pte. Ltd.
China Advisory Pte. Ltd.
China Hong Cheng Holdings Ltd
Sino-Link Consultants Pte Ltd
Sino Construction Limited
VEIO Capital US Feeder Fund Limited
VEIO Capital Offshore Feeder Fund Limited
VEIO Capital Master Fund Limited
Wing Lung Opportunities Fund Limited
Wing Lung Opportunities Master Fund Limited
Present
BL Corporate Advisory Pte Ltd
Firststate Private Limited
Interra Resources Limited
Genesis Ltd