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| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | Resignation of Non-Executive Director |
| Securities | MEGACHEM LIMITED (MEGACHEM) |
| Date & Time of Broadcast | Jun 1, 2016 8:08 |
| Submitted By | Kwok Hwee Peng Company Secretary |
| Description | This Announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, SAC Capital Private Limited, for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "Exchange"). The Company's Sponsor has not independently verified the contents of this Announcement. This Announcement has not been examined or approved by the Exchange and the Exchange 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 Ms Tan Pei Woon (tel: (65) 6532 3829) at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542. |
| Cessation Details | |
| Name of person | Atsushi Saito |
| Age | 64 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Jun 1, 2016 |
| Detailed reason(s) for cessation | Mr Atsushi Saito is resigning from the Board of Directors due to his retirement from Chori Co. Ltd, a controlling shareholder of the Company. The Company s Sponsor, SAC Capital Private Limited, has contacted Mr Atsushi Saito and based on its enquiries, is satisfied that other than as disclosed in this announcement, there are no other material reasons for Mr Atsushi Saito's resignation. |
| 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 | Nov 21, 2012 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this 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 | Non-Executive Director |
| Role and responsibilities | The roles and responsibilities of a Non-Executive Director. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | NIL |
| Shareholdings interest in the listed issuer and its subsidaries? | No |
| Other directorships | |
| Past (for the last 5 years) | Chairman of Chori Trading (Malaysia) Sdn Bhd |
| Present | Chairman of P.T. Chori Indonesia President of Chori Singapore Pte Ltd |