Change - Announcement of Cessation::RESIGNATION OF EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
GSS ENERGY LIMITED
Securities
GSS ENERGY LIMITED - SG1AG6000007 - 41F
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
17-Aug-2015 20:23:09
Status
New
Announcement Sub Title
RESIGNATION OF EXECUTIVE DIRECTOR
Announcement Reference
SG150817OTHRU1JV
Submitted By (Co./ Ind. Name)
Ng Say Tiong
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Charles Madhavan as Executive Director of GSS Energy Limited.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Stamford Corporate Services Pte Ltd (Sponsor), for compliance with the relevant rules of the SGX-ST. The Company's Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by SGX-ST and SGX-ST assumes no responsibility for the contents of this document, 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, at telephone no. (65) 6389 3000; email address bernard.lui@stamfordlaw.com.sg

Additional Details

Name Of Person
Charles Madhavan
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
17/08/2015
Detailed Reason (s) for cessation
Mr Charles Madhavan is resigning from GSS Energy Limited to pursue his personal interests.
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
01/03/2015
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)
3
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.)
Executive Director
Role and responsibilities
Responsible for the daily operation activities of the Company and its subsidiaries.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Madhavan is deemed to have an interest in: (i) Blue Water Engineering Pte Ltd's ("BWE") shareholding of 2,000,000 shares; (ii) BWE's deemed interest in Java Petral Energy Pte Ltd's shareholding of 76,000,000 shares; and (iii) his spouse, Sng Lee Leng's shareholding of 5,446,000 shares, in the Listed issuer.
Past (for the last 5 years)
1. Blue Water Consultants Ltd (BVI); 2. Cepu Sakti Energy Pte Ltd; 3. GSS Energy Sumatra Limited; 4. GSS Energy Oilfield Management Limited; 5. GSS Energy Trembul Limited
Present
1. Blue Water Energineering Pte Ltd; 2. Blue Water O&G Pte. Ltd.; 3. Cepu Sakti Energy Ltd (BVI); 4. GSS-AFCO Pte Ltd