Change - Announcement of Cessation::Resignation of Chairman and Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
MAGNUS ENERGY GROUP LTD.
Securities
MAGNUS ENERGY GROUP LTD. - SG1G89872947 - 576

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Jun-2014 19:55:58
Status
New
Announcement Sub Title
Resignation of Chairman and Independent Non-Executive Director
Announcement Reference
SG140620OTHRCFT8
Submitted By (Co./ Ind. Name)
Luke Ho Khee Yong
Designation
Company Secretary
Effective Date and Time of the event
30/06/2014 17:00:00
Description (Please provide a detailed description of the event in the box below)
Resignation of Datuk Idris Bin Abdullah @ Das Murthy as the Chairman and Independent Non-Executive Director.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Continuing Sponsor, Stamford Corporate Services Pte Ltd. (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 Bernard Lui.
Tel: 6389 3000 Email: bernard.lui@stamfordlaw.com.sg

Additional Details

Name Of Person
Idris Bin Abdullah @ Das Murthy
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
30/06/2014
Detailed Reason (s) for cessation
Datuk Idris resigned due to his increasing professional and family commitments in East Malaysia.
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
23/05/2008
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.)
Chairman, Independent Non-Executive Director, Chairman of Remuneration Committee and a member of the Audit and Nominating Committees.
Role and responsibilities
Leading the Board and facilitating its effectivenss as Chairman and as a Board member exercised joint and several responsibilities with the Board of Directors. Acted as Chairman of the Remuneration Committee, member of the Audit and Nominating Committees in accordance with the terms of reference of the respective committees.
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?
No
Past (for the last 5 years)
Please see Appendix A
Present
Please see Appendix A

Attachments

Appendix_A_datuk_200614.pdf
Total size =182K