Shanghai Asia Holdin : Announcement Of Cessation As Independent Director Who Is An Audit Committee Member

Announcement Of Cessation As Independent Director Who Is An Audit Committee Member

Resignation Details
Name Of Person	Siow Chee Keong
Age	57
Is Effective Date Of Cessation Known?	Yes
Effective Date Of Cessation	01/06/2012
Detailed Reason(s) for Cessation	Reduction in board size after completion of the sale of substantially all of the assets, liabilities and businesses of the Company.
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
If yes, please elaborate	NA
Any other relevant information to be provided to shareholders of the listed issuer?	No
If yes, please elaborate	NA
Date of Appointment to current position	01/02/2011
Job Title	Independent Director, Member of the Audit, Remuneration and Nominating Committees.
Role and Responsibilities	Non-Executive and Independent Director.
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 cessation)	2 (with effect from 1 June 2012)
Number of Cessations of Appointments specified in Listing Rule 704(7) over the past 12 months	5 (including the cessations announced on 30 April 2012).
Interest in the listed issuer and its subsidiaries	Nil.
Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries	None.
Other Directorship
Past Directorship (for the last five years)	Oceanus Bio-Tech (Holdings) Pte Ltd Xin Yi Environmental Pte Ltd Sunmart Holding Limited CMZ Holdings Ltd.
Present Directorship	JF Virtus Pte. Ltd. Darco Water Technologies Ltd Sunvic Chemical Holdings Ltd Epicentre Holdings Limited Key Venture Capital Inc.