Change - Announcement of Cessation::Resignation of Independent Non- Executive Director

Issuer/ ManagerYANGZIJIANG SHIPBUILDING (HOLDINGS) LTD.Stapled SecurityNo

Announcement Title Change - Announcement of CessationDate &Time of Broadcast 03-Dec-2021 17:42:06Status NewAnnouncement Sub TitleResignation of Independent Non- Executive DirectorAnnouncement ReferenceSG211203OTHRW7MISubmitted By (Co./ Ind. Name)Ren LetianDesignationExecutive Chairman and Chief Executive OfficerDescription (Please provide a detailed description of the event in the box below)Resignation of Mr Toe Teow Heng as Independent Non-Executive Director.

Name Of PersonToe Teow HengAge53Is effective date of cessation known?YesIf yes, please provide the date06/12/2021Detailed Reason (s) for cessationMr Toe Teow Heng has tendered his resignation as Independent Non-Executive Director with effect from 6 December 2021. He has indicated that his resignation is due to his intention to seek a consultation role in the Company's proposed spin-off project and assist in the building of a new international assets management company, including but not limited to building the team, applying for asset management licences, entering into strategic partnerships and enhancing its profile, all of which may potentially impair his independence as an independent director.

Following his resignation, Mr Toe Teow Heng shall cease to be a member of the Audit Committee, Remuneration Committee and Nominating Committee.

The Board expressed its gratitude and appreciation to Mr Toe Teow Heng for his invaluable contributions during his tenure as a Director of the Company.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?NoIs there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?NoAny other relevant information to be provided to shareholders of the listed issuer?YesIf Yes, Please provide full detailsWith Mr Toe Teow Heng's cessation, the Board will be looking to appoint a new independent Director and/or reviewing the current composition to ensure that the composition of the Board and Board Committees comply with the Code of Corporate Governance.Date of Appointment to current position30/04/2020Does the AC have a minimum of 3 members (taking into account this cessation)?YesNumber of Independent Directors currently resident in Singapore (taking into account this cessation)2Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months1Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)Independent Non- Executive Director and a member of the Audit Committee, Remuneration Committee and Nominating Committee.Role and responsibilitiesIndependent Non- Executive Director and a member of the Audit Committee, Remuneration Committee and Nominating Committee.Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiariesNoShareholding interest in the listed issuer and its subsidiaries?NoPast (for the last 5 years)1. A21 Pte Ltd
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