| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Feb 28, 2023 17:28 |
| Status | New |
| Announcement Sub Title | Retirement of Senior Managing Director |
| Announcement Reference | SG230228OTHRDKGQ |
| Submitted By (Co./ Ind. Name) | Lim Kai Ching |
| Designation | Group CFO |
| Effective Date and Time of the event | 28/02/2023 17:00:00 |
| Description (Please provide a detailed description of the event in the box below) | Mr. Zac K. Hoshino will retire with effect from 28 February 2023 and accordingly, will relinquish his position as Senior Managing Director and Head of Shipping. Accordingly, he will also relinquish his directorship and CEO position of subsidiary, Uni-Asia Shipping Limited, as well as his directorship and Managing Director position of subsidiary, Uni Ships and Management Limited. From 1 March 2023, he will be appointed as an Advisor to the Group's Shipping business and will be based in Japan. In his capacity as an Advisor, he will continue his position as a director and President of subsidiary, Wealth Ocean Ship Management (Shanghai) Co., Ltd. |
| Additional Details | |
| Name Of Person | Zac K. Hoshino |
| Age | 61 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 28/02/2023 |
| Detailed Reason (s) for cessation | Retirement from full time employment. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| 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 |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| Date of Appointment to current position | 01/03/2019 |
| 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 cessation) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Senior Managing Director |
| Role and responsibilities | Mr. Hoshino oversees the Shipping Business of the Group before his retirement. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 124,725 ordinary shares |
| Past (for the last 5 years) | 1. Uni Asia Shipping Limited 2. Hope Bulkship S.A. 3. Imperial Bulkship S.A. 4. Jade Bulkship S.A. 5. Karat Bulkship S.A. 8. Mable Bulkship S.A. 9. Nora Bulkship S.A. 10. Uni Ships and Management Limited 11. Olive Bulkship S.A. 12. Polaris Bulkship S.A. 13. Quest Bulkship S.A. 14. Fulgida Bulkship S.A. 15. Florida Containership S.A. 16.Joule Asset Management (Pte.) Ltd. 17. Prosperity Containership S.A. |
| Present | Wealth Ocean Ship Management (Shanghai) Co., Ltd. |