Change - Announcement of Cessation::Resignation of Managing Director

Issuer & Securities

Issuer/ Manager
MAGNUS ENERGY GROUP LTD.
Securities
MAGNUS ENERGY GROUP LTD. - SG1G89872947 - 576
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Sep-2014 17:52:50
Status
New
Announcement Sub Title
Resignation of Managing Director
Announcement Reference
SG140916OTHROBPV
Submitted By (Co./ Ind. Name)
Luke Ho Khee Yong
Designation
Company Secretary
Effective Date and Time of the event
30/09/2014 17:00:00
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Lim Kuan Yew as the Managing 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
Lim Kuan Yew
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2014
Detailed Reason (s) for cessation
Mr Lim wishes to pursue his personal ventures and businesses.
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
17/03/2008
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Managing Director
Role and responsibilities
Mr Lim is responsible for strategic planning, establishing future direction and business development of the Group, and oversees the Group's overall management and operations.
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