| Resignation Details | |
| Name Of Person | Jimmy Tan Thoo Chye |
| Age | 54 |
| Is Effective Date Of Cessation Known? | Yes |
| Effective Date Of Cessation | 22/07/2013 |
| Detailed Reason(s) for Cessation | The removal of Mr. Tan was proposed by the requisition members on 23 May 2013. The resolution relating to the removal was passed on a poll vote conducted at the Extraordinary General Meeting on 22 July 2013. Following his removal, he will relinquish from his positions as Managing Director and a member of the Nominating Committee of the Company. |
| Is there any difference of opinion on material matters between the person and the Board of directors? | Yes |
| If yes, please elaborate | The sequence of events leading up to Mr. Tan's removal began over differences in views on the management of the Group's businesses with a certain director. |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | Yes |
| If yes, please elaborate | Certain distribution agreeements entered into by the Group's subsidiaries contain change of management provisions whereby the counter parties may terminate the agreements with immediate notice. |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| If yes, please elaborate | NA |
| Date of Appointment to current position | 02/03/2012 |
| Job Title | Managing Director |
| Role and Responsibilities | Executive |
| Does the AC have a minimum of 3 members (taking into account this resignation)? | 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) over the past 12 months | 1 |
| Interest in the listed issuer and its subsidiaries | 6,667,000 ordinary shares (Direct interest) and 4,848,000 ordinary shares (Deemed interest) |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Other Directorship | |
| Past Directorship (for the last five years) | Percy Gain Investment Limited |
| Present Directorship | TAT Petroleum Pte Ltd TAT Korea Petroleum Co. Ltd TAT Petroleum (HK) Pte Ltd SHS Capital Pte Ltd |