| Announcement of Resignation of Managing Director | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | MAGNUS ENERGY GROUP LTD. |
| Company Registration No. | 198301375M |
| Announcement submitted on behalf of | MAGNUS ENERGY GROUP LTD. |
| Announcement is submitted with respect to * | MAGNUS ENERGY GROUP LTD. |
| Announcement is submitted by * | Wong Siew Chuan |
| Designation * | Company Secretary |
| Date & Time of Broacast | 06-May-2008 18:37:09 |
| Announcement No. | 00112 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Name * | Chan Sing En |
| Age * | 41 |
| Effective Date of Resignation | 01/06/2008 |
| Detailed Reason(s) for resignation | I had been involved in the restructuring of MAGNUS ENERGY GROUP LTD. since 2002 when it was called Strike Engineering Limited then. The Company is now financially strong and core businesses-focused. It is now one of the largest oil & gas equipment suppliers in South East Asia and also owns profitable crude oil production concession in China. Its coal division is also currently undergoing a separate listing in Australia. With this, I have completed the corporate restructuring of Magnus. The operational management shall bring the Company forward to the next level. |
| Date of Appointment to current position | 16/05/2006 |
| Job Title | Managing Director |
| Role and responsibilities | (a) To undertake such duties and exercise such powers in relation to the Company and its business at such place whether inside or outside Singapore as the Board of Directors of the Company (the "Board") shall from time to time assign; (b) To observe and comply with all resolutions and directions from time to time made or given by the Board; and (c) To perform such services for any existing or future subsidiary, associated and related companies of the Company and without further remuneration (unless otherwise agreed) accept such offices in any such companies as the Board may from time to time reasonably require. |
| 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 resignation) | 2 |
| Number of Resignations of persons specified in Rule 704(7) of the Listing Manual over the past 12 months | 1 |
| >> Other Directorship # | |
| # These fields are not applicable for announcements of appointments pursuant to Rule 704(9) | |
| Past (for the last five years) | Singapore 1.Adroit Properties Pte Ltd 2.Apature.net Pte Ltd 3.Auriga Pte Ltd 4.Circle Education Network (S) Pte Ltd 5.Circlesky (S) Pte Ltd 6.Circle Infocom (S) Pte Ltd 7.Diamonds Galleria (Asia) Pte Ltd 8.Globaspace Pte Ltd 9.G1 Investments Pte Ltd 10. Hopeton Investments Pte Ltd 11.Lparadigm Pte Ltd 12.Multimedia Cableline Pte Ltd 13.Reed Group Holdings Ltd 14.Restaurants Across Asia Pte Ltd 15.Restaurants Connections Singapore Pte Ltd 16.Sunlight Group Hldg Ltd 17.Sunlight Group Investments Ptd Ltd Malaysia 1. Enigma Venture (M) Sdn Bhd Australia 1.CircleCom Ltd British Virgin Islands 1. Powerlite Ventures Limited Hong Kong 1.Circle Global Networks (H.K.) Ltd 2.Circlecom (H.K.) Ltd USA 1.Circle Communications Inc. |
| Present | Singapore 1.Adroit Innovations Limited 2.Adroit Innovations Investment Pte Ltd 3.Antig Investments Pte. Ltd. 4.Asphere Holdings Pte Ltd 5.Tria Holdings Pte Ltd 6.Tyzen Holdings Pte Ltd Malaysia 1.Adroit Innovations Sdn Bhd Britsih Virgin Islands 1.Amrita Capital Ltd 2.Biomedical Ventures Inc. 3.Green Heritage Overseas Ltd |
| Interest in the listed issuer and its subsidiaries * | The Company: Direct Interest - 4,159,000 employee share options granted on 4 Dec 07 (lapsed upon resignation) Indirect Interest - 7 million shares held in the name of United Overseas Bank Nominees Pte Ltd |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries * | Not Applicable |
| Footnotes | None |
