Change - Announcement of Cessation::Resignation of Independent Director

Issuer & Securities

Issuer/ Manager
MAGNUS ENERGY GROUP LTD.
Securities
MAGNUS ENERGY GROUP LTD. - SG1AI2000007 - 41S
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Jun-2019 20:24:31
Status
New
Announcement Sub Title
Resignation of Independent Director
Announcement Reference
SG190628OTHRBLPY
Submitted By (Co./ Ind. Name)
Luke Ho Khee Yong
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company s sponsor, Stamford Corporate Services Pte Ltd (the Sponsor ). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (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@morganlewis.com

Additional Details

Name Of Person
Ong Chin Chuan
Age
41
Is effective date of cessation known?
Yes
If yes, please provide the date
30/06/2019
Detailed Reason (s) for cessation
Due to increased demand for commitment in his full time job.

Based on its enquiries, the Sponsor is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Ong Chin Chuan as an Independent Director of the Company.
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
30/06/2015
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Audit Committee, member of Nominating and Remuneration Committees
Role and responsibilities
Acting as an Independent Director of the Company, as Chairman of Audit Committee and as a member of the Nominating Committee and Remuneration Committee of the Company.
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?
Yes
Shareholding Details
Mr Ong Chin Chuan s total shareholding interest is 0.43% of the share capital of the Company as of 28 June 2019.
Past (for the last 5 years)
1. Secure Parking Corporation Sdn. Bhd.
Present
1. Singer (Malaysia) Sdn Bhd.