CARRIERNET GLOBAL LTD: ANNOUNCEMENT OF CESSATION AS CHIEF EXECUTIVE OFFICER

Announcement of Cessation of Chief Executive Officer
* Asterisks denote mandatory information
Name of Announcer *	CARRIERNET GLOBAL LTD
Company Registration No.	198404341D
Announcement submitted on behalf of	CARRIERNET GLOBAL LTD
Announcement is submitted with respect to *	CARRIERNET GLOBAL LTD
Announcement is submitted by *	Ong Wei Jin
Designation *	Company Secretary
Date & Time of Broacast	20-Nov-2009 20:03:28
Announcement No.	00145
Price Sensitivity	Yes

>> Announcement Details

The details of the announcement start here ...

Name *	Chow Tat Ming Henry
Age *	52
Is Effective Date of Cessation known? *	Yes
Effective Date of Resignation	17/11/2009
Detailed Reason(s) for cessation *	The Board of Directors of the Company has terminated the service contract of Mr Chow Tat Ming, Henry as CEO of the Company via payment in lieu of three months notice. The Board has deliberated on the new direction and future development plans of the Company and going forward, will be looking for a new business for the Company. Accordingly, the Board is of the opinion that Mr Chow™s services will no longer be necessary and to save costs, have determined that the termination of Mr Chow™s service contract as CEO would therefore be in the best interests of the Company moving forward. The Company intends to continue with its existing business for the time being until a viable new business is found, and will be gradually de-emphasizing its focus on the existing business. The Board will continue to keep shareholders of the Company updated via the usual announcements.
Is there any difference of opinion on material matters between the person and the Board of directors? *	No
If yes, please elaborate *	NA
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
Date of Appointment to current position *	27/04/2007
Job Title *	Chief Executive Officer
Role and responsibilities *	Responsible for driving the Group™s vision, growth and profitability. Focused on reshaping the Group™s global telecommunications blue print to lead the Company™s evolution to a major telecommunication player in the regional VoIP market. Plays a strategic leadership role in executing the business plan; transforming the company™s telecom delivery efforts; building strategic partnerships; and leveraging the company™s resources and key customer constituencies.
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 resignation) *	3
Number of Cessations of persons specified in Rule 704(7) of the Listing Manual over the past 12 months *	1
Shareholding in the listed issuer and its subsidiaries *	68.1 million shares (along with deemed interest)
Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries *	Ms Wan Lai Ting (Spouse) Director of subsidiary companies:- (a) CarrierNet Corporation Limited ("CarrierNet") (b) Memphis Telecom Pty Ltd (a subsidiary of CarrierNet)

>> Other Directorship #
# These fields are not applicable for announcements of appointments pursuant to Rule 704(9)
Past (for the last five years) *	CarrierNet Corp. Ltd.
Present *	CarrierNet Corporation (Singapore) Pte Ltd Uni 3 Pte. Ltd. Alton International Ltd.

Footnotes

This announcement has been prepared by the Company and its contents have been reviewed by the Company™s Sponsor, Stamford Corporate Services Pte Ltd, for compliance with the relevant rules of 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 Mr Yap Wai Ming Tel: [phone] Email: [e-mail]