News
Change - Announcement Of Cessation Of A Board Director
BackFeb 19, 2026
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Feb 19, 2026 7:17 |
| Status | New |
| Announcement Sub Title | Cessation of a Board Director |
| Announcement Reference | SG260219OTHRL9QR |
| Submitted By (Co./ Ind. Name) | John d'Abo |
| Designation | Executive Chairman |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Beverley Ann Smith ("Ms Smith") as Independent Non-Executive Director |
| Additional Details | |
| Name of person | Beverley Ann Smith |
| Age | 60 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date. | 12/02/2026 |
| Detailed reason(s) for cessation | The Company received a formal letter of resignation from Ms Smith on 17 February 2026 indicating an effective date of 12 February 2026. Ms Smith has resigned as Independent Non-Executive Director of the Company. Following her resignation, she will relinquish her directorships in the Company's subsidiaries. The Board and Management would like to thank Ms Smith for her contributions and guidance to the Board and 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? | Yes |
| If yes, please elaborate. | Ms Smith has resigned as she has raised certain concerns regarding the review and approval process in relation to certain contracts entered into by a subsidiary of the Company. The Company takes these concerns seriously and these matters are currently under review. No conclusions have yet been reached. The Company will provide further updates, where appropriate, in due course. |
| 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 | 01/08/2023 |
| Job title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Non-Executive Director |
| Role and responsibilities | Independent Non-Executive Director with oil & gas industry expertise; also an independent Board member of the Company's subsidiaries Lime Petroleum Holding AS, Masirah Oil Ltd and Rex Oman Ltd. |
| 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) | 2 |
| Do independent directors make up at least one-third of the board (taking into account this cessation)? | Yes |
| Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months | 0 |
| Shareholding interest in the listed issuer and its subsidiaries | No |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Other Directorships Past (for the last 5 years) |
Cornerstone Resources Group Ltd Hurricane Energy Plc |
| Present | Touchstone Exploration Inc. |