Change - Announcement of Cessation::Resignation of Chairman and Independent Non-Executive Director

Name Of PersonLim How TeckAge69Is effective date of cessation known?YesIf yes, please provide the date13/12/2019Detailed Reason (s) for cessationTo facilitate board refreshment.

The Sponsor, after having interviewed Mr Lim How Teck, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr Lim How Teck as the Chairman and Independent Non-Executive 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?NoIs there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?NoAny other relevant information to be provided to shareholders of the listed issuer?NoDate of Appointment to current position29/06/2015Does the AC have a minimum of 3 members (taking into account this cessation)?YesNumber of Independent Directors currently resident in Singapore (taking into account this cessation)1Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months3Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)Chairman and Independent Non-Executive Director and Chairman of Audit Committee and Member of the Remuneration Committee and Nominating CommitteeRole and responsibilitiesActed as Chairman and Independent Non-Executive Director and Chairman of Audit Committee and Member of the Remuneration Committee and Nominating CommitteeFamilial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiariesNilShareholding interest in the listed issuer and its subsidiaries?YesShareholding Details11,984,979 Ordinary SharesPast (for the last 5 years)> Listed Companies

Rickmers Trust Management Pte Ltd

Swissco Holdings Limited

ARA Asset Management Limited

Eng Kong Holdings Pte Ltd

Mewah International Inc (Singapore Branch)

> Non-Listed Companies

Greenship Offshore Manager Pte Ltd

ACAL Holdings Pte Ltd

ACAL Underwriting Services Pte Ltd

Certis CISCO Security Pte Ltd

Recall Total Information Management Pte Ltd

Gold Prime Holdings Ltd

Horsburgh Maritime International Pte Ltd

Horsburgh Maritime Investments Pte Ltd

Horsburgh Maritime Pte Ltd

Public Utilities Board

Jurong Port Pte Ltd

Accuron Technologies Limited

The Foundation for Development Cooperation (Singapore) Ltd

Tuas Power Ltd

Tuas Power Generation Pte Ltd

ACAL Underwriting Ltd (UK)

33 Ventures Pte Ltd

Present> Listed Companies

ARA Trust Management (Cache) Limited

Raffles Education Corporation Limited

> Non-Listed Companies

Redwood International Pte Ltd

Mizuho Securities (Singapore) Pte. Ltd.

Heliconia Capital Management Pte. Ltd.

Heliconia Holdings Pte Ltd

Yang Kee Logistics (Singapore) Pte Ltd

Singapore DTT Corporation Pte Ltd

Nexusun International Pte Ltd

PNG Sustainable Development Program Limited

The Foundation for Development Cooperation

The Foundation for Development Cooperation (Pacific) Ltd