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Change - Announcement Of Cessation Of Executive Director And Chief Executive Officer

BackMay 05, 2017
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast May 5, 2017 19:27
Status New
Announcement Sub Title Cessation of Executive Director and Chief Executive Officer
Announcement Reference SG170505OTHRAUVS
Submitted By (Co./ Ind. Name) Lee Tiong Hock
Designation Company Secretary
Description (Please provide a detailed description of the event in the box below) Cessation of Dean Lloyd Gallegos as Executive Director and Chief Executive Officer

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.
Additional Details
Name Of Person Dean Lloyd Gallegos
Age 49
Is effective date of cessation known? Yes
If yes, please provide the date 02/08/2017
Detailed Reason (s) for cessation Mr Dean Lloyd Gallegos has resigned as an Executive Director and Chief Executive Officer of the Company to pursue other opportunities.

Based on its enquiries, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr Dean Lloyd Gallegos as an Executive Director and Chief Executive Officer 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 01/01/2016
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 and Chief Executive Officer
Role and responsibilities Executive. Responsible for the operations of the Company.
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? No
Past (for the last 5 years) Buccaneer Energy Limited
Metal Storm Limited
Present HG3 Capital Pty Ltd
GM Resources Pty Ltd
Caracol Petroleum, LLC
JK North Slope, LLC
Brooks Range Petroleum Corp, Inc
Conquest Energy Pte Ltd
JK E&P Pte Ltd
Rarus Pty Ltd

For companies that are part of the Group, the Board will take such steps to procure the cessation of Mr Dean Lloyd Gallegos's directorships in such companies.