CARRIERNET GLOBAL LTD: ANNOUNCEMENT OF CESSATION AS CHIEF EXECUTIVE OFFICER AND RE-DESIGNATION AS NON-EXECUTIVE DIRECTOR

Announcement of Cessation of Chief Executive Officer and Executive Director
* 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	23-Aug-2011 17:34:21
Announcement No.	00078
Price Sensitivity	Yes

>> Announcement Details

The details of the announcement start here ...

Name *	Chan Sing En
Age *	43
Is Effective Date of Cessation known? *	Yes
Effective Date of Resignation	31/08/2011
Detailed Reason(s) for cessation *	Due to the successful restructuring and recapitalisation of CarrierNet Global Ltd, Mr. Chan Sing En ("Mr. Chan") felt that it is timely to pursue other business opportunities. Mr. Chan will be re-designated as Non-Executive Director.
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 *	25/05/2010
Job Title *	Chief Executive Officer and Executive Director
Role and responsibilities *	Responsible for the management and development of the business of the Group and provides the Group with strong leadership and strategic vision.
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) *	1
Number of Cessations of persons specified in Rule 704(7) of the Listing Manual over the past 12 months *	5 (excluding this cessation)
Shareholding in the listed issuer and its subsidiaries *	1. 10,080,000 ordinary shares in his own name 2. 105,000,000 ordinary shares in the name of HSBC (Singapore) Nominees Pte Ltd (nominee for Amrita Capital Ltd) - Mr. Chan is deemed to be interested in the 105,000,000 shares held by Amrita Capital Ltd. by virtue of his 100% shareholdings in Amrita Capital Ltd.
Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries *	Nil

>> Other Directorship #
# These fields are not applicable for announcements of appointments pursuant to Rule 704(9)
Past (for the last five years) *	1. Sunlight Group Investments Pte Ltd 2. GI Investments Pte Ltd 3. Antig Investments Pte Ltd 4. Magnus Energy Group Ltd 5. Sunlight Group Holding Ltd 6. GlobalSpace Pte Ltd 7. AGN Global Exchange Pte Ltd 8. Auriga Pte Ltd
Present *	1. Adroit Innovations Limited 2. Adroit Innovations Investment Pte Ltd (Alternate Director) 3. Asphere Holdings Pte Ltd 4. Tria Holdings Pte Ltd 5. Tyzen Holdings Pte Ltd 6. Adroit Innovations Sdn Bhd 7. Amrita Capital Pte Ltd 8. Millipede International Ltd 9. Amrita Investment Group Pte Ltd 10. Amrita Capital 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]