| Announce of Appointment of Lead Independent Director | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | OTTO MARINE LIMITED |
| Company Registration No. | 197902647M |
| Announcement submitted on behalf of | OTTO MARINE LIMITED |
| Announcement is submitted with respect to * | OTTO MARINE LIMITED |
| Announcement is submitted by * | Wee Eng Hua Marjorie |
| Designation * | Company Secretary |
| Date & Time of Broacast | 21-Mar-2013 05:53:11 |
| Announcement No. | 00002 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Date of Appointment * | 12/03/2013 |
| Name * | Heng Hock Cheng @ Heng Heyok Chiang ("Mr. Heng") |
| Age * | 63 |
| Country of principal residence * | Malaysia |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) * | The Board of Directors have reviewed the Nominating Committee's recommendation and the qualifications, experiences and suitability of Mr. Heng and have approved the appointment of Mr. Heng as the Company's Lead Independent Director, as the Chairman and the CEO is the same person. |
| Whether appointment is executive, and if so, area of responsibility * | The appointment is not an executive position. |
| Job Title * | Lead Independent Director |
| Working experience and occupation(s) during the past 10 years * | Mr. Heng retired from Shell in October 2006 after 34 years of service, spanning Upstream, Downstream and Gas & Power Divisions, holding positions ranging from Process Engineer to Refinery Superintendent, from Senior Area Engineer with Shell International, the Hague in The Netherlands to Technical Director of Sarawak and Sabah Shell, from Managing Director of Shell Gas and Power Malaysia to Chairman of Shell China based in Beijing. Since his retirement from Shell, he has taken up positions as Advisor and Director to several corporations. Mr. Heng has broad experience in the Oil & Gas Industry gained through wide and varied exposure which included refinery operations, major offshore oil and gas fields development, the strategic business turnaround of the Shell MDS plant in Bintulu, negotiation of major production sharing contracts and Board Directorship at several key Shell joint ventures in Malaysia and China. He is also a director of AET Tankers Holdings Sdn. Bhd., AET Ship Management (Malaysia) Sdn. Bhd., AET Ship Management (Singapore) Pte. Ltd., Malaysia Marine and Heavy Engineering Holdings Berhad, Sarivest Holding Sdn Bhd and Employee Provident Fund (EPF) Malaysia. |
| Shareholding in the listed issuer and its subsidiaries * | No |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries * | None |
| Conflict of interest * | None |
| >> Other Directorship # | |
| # These fields are not applicable for announcements of appointments pursuant to Rule 704(9) | |
| Past (for the last five years) | Timor Enterprises Sdn Bhd AET Ship Management (USA) LLC MG Biogreen Sdn Bhd |
| Present | AET Tankers Holdings Sdn. Bhd. AET Ship Management (Singapore) Pte. Ltd. AET Ship Management (Malaysia) Sdn. Bhd. Malaysia Marine and Heavy Engineering Holdings Berhad Employee Provident Fund (EPF) Malaysia Sarivest Holding Sdn Bhd |
| >> Information required under Rule 704(7)(h) | |
| Disclose the following matters concerning a director, chief executive officer, general manager or other executive officer of equivalent rank. If the answer to any questions is "yes", full details must be given. | |
| (a) * Whether at any time during the last 10 years, a petition under any bankruptcy laws of any jurisdiction was filed against him or against a partnership of which he was a partner? | No |
| (b) * Whether at any time during the last 10 years a petition under any law of any jurisdiction was filed against a corporation of which he was a director or key executive for the winding up of that corporation on the ground of insolvency? | No |
| (c) * Whether there is any unsatisfied judgement against him? | No |
| (d) * Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment for 3 months or more, or has been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such purpose? | No |
| (e) * Whether he has ever been convicted of any offence, in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such breach? | No |
| (f) * Whether at any time during the last 10 years, judgement has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misinterpretation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings which he is aware of involving an allegation of fraud, misinterpretation or dishonesty on his part)? | No |
| (g) * Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? | No |
| (h) * Whether he has ever been disqualified from acting as a director of any corporation, or from taking part directly or indirectly in the management of any corporation? | No |
| (i) * Whether he has ever been the subject of any order, judgement or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) * any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No |
| (ii) * any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) * any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) * any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, | No |
| in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | |
| (k) * Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| >> Information required under Rule 704(7)(i) | |
| Disclosure applicable to the appointment of Director only. | |
| Any prior experience as a director of a listed company? | Yes |
| If yes, please provide details of prior experience | Mr. Heng has been a Director of Otto Marine Limited since January 2011. |
| Footnotes | None |
