Change - Announcement of Cessation::Cessation of Executive Chairman and Director

Issuer & Securities

Issuer/ Manager
TECHNICS OIL & GAS LIMITED
Securities
TECHNICS OIL & GAS LIMITED - SG1N85910015 - 5CQ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Apr-2016 17:52:00
Status
New
Announcement Sub Title
Cessation of Executive Chairman and Director
Announcement Reference
SG160401OTHRWILT
Submitted By (Co./ Ind. Name)
Tay Mian Cheo
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Tay Mian Cheo as Executive Chairman and Director

Additional Details

Name Of Person
Tay Mian Cheo
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
15/06/2016
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?
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?
Yes
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
29/02/2016
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)
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.)
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
NA
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
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
Present
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