Change - Announcement of Cessation::Cessation of Executive Chairman and Director
Issuer & Securities
TECHNICS OIL & GAS LIMITED
TECHNICS OIL & GAS LIMITED - SG1N85910015 - 5CQ
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of Executive Chairman and Director
Submitted By (Co./ Ind. Name)
Tay Mian Cheo
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Tay Mian Cheo as Executive Chairman and Director
Name Of Person
Tay Mian Cheo
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Tay Mian Cheo resigned due to personal reason.
Referring to the date of appointment of Mr Tay Mian Cheo to current position, Mr Tay Mian Cheo was appointed as a Director of the Company on 18/06/2002 and as an Executive Chairman on 29/02/2016.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
If Yes, Please provide full details
Mr Tay Mian Cheo has tendered his resignation on 16 March 2016 and his last day of service is 15 June 2016.
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Director
Role and responsibilities
Mr Tay Mian Cheo is responsible for the general management and overall strategic planning and direction of Technics Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Mr Tay Mian Cheo has direct and deemed interest of 2,419,012 and 5,000,000 ordinary shares respectively.
Past (for the last 5 years)
Technics Offshore International Pte. Ltd.- Struck Off
Fraser Thermal Technology Pte. Ltd.- Dissolved
Technics Engineering Australia Pty Ltd
Flinders Practice Pte Ltd Dissolved
Hyperbaric And Occupational Medicine Pte Ltd - Dissolved
Technics Offshore Engineering Pte Ltd
Technics Oil & Gas Limited
Petro Process System Pte. Ltd.
Norr Systems Pte Ltd
Technics Systems Solutions Pte. Ltd.
Norr Offshore Group Limited
Eversendai Technics Sdn Bhd
Eversendai Technics Pte. Ltd.
PT Technics Offshore Jaya
AMF Tech Asia Sdn Bhd
M2E Corporation(Suzhou) Co., Ltd.
M2E Corporation Limited
Technorr Marine Pte Ltd
Customer Life Cycle Solutions International Pte. Ltd.
Marinelift Testing & Supply Pte Ltd
Rigging & Marine Services Pte Ltd
Wecom Engineering Pte Ltd
Wecom Construction & Marine Pte Ltd