Published On: Tue, Jul 26th, 2011

Jane Diplock to Join SGX Board

Jane DiplockThe Board of SGX wishes to announce the following:

* Appointment of new director

Ms Jane Diplock is appointed as an independent and non-executive director of SGX with effect from 25 July 2011. Ms Diplock possesses a strong regulatory background having served as Chairman of the New Zealand Securities Commission from September 2001 to April 2011. She was also the Chairman of the Executive Committee, International Organisation of Securities Commissions from 2004 to 2011. Ms Diplock will be subject to re-election by shareholders at the upcoming SGX Annual General Meeting scheduled to be held on 6 October 2011.

* Cessation of independence

Ms Euleen Goh and Mr Ho Tian Yee, formerly independent non-executive Directors with SGX, will no longer be considered independent. This follows from the Nominating Committee’s review of directors’ independence conducted pursuant to the Securities and Futures (Corporate Governance of Approved Exchanges, Designated Clearing Houses and Approved Holding Companies) Regulations 2005. In arriving at its decision, the Nominating Committee took into account Ms Goh’s and Mr Ho’s directorships in DBS Group Holdings Limited and its subsidiaries and the fact that DBS Bank became a member of the SGX for the clearing of over-the-counter financial derivatives on 15 November 2010.

* Change in composition of Audit Committee

Mr Ho Tian Yee and Ms Euleen Goh will step down as Audit Committee members with effect from 25 July 2011 after having served on the committee for 11 and three years, respectively. Taking their place will be independent and non-executive directors, Mr Liew Mun Leong, and Mr Ng Kee Choe. Following from the above, the Audit Committee will comprise the following members with effect from 25 July 2011:
• Mr Lee Hsien Yang (AC Chairman) – Independent non-executive director
• Mr Loh Boon Chye – Non-independent non-executive director
• Mr Liew Mun Leong – Independent non-executive director
• Mr Ng Kee Choe – Independent non-executive director

* Retirement of Directors

Mr Low Check Kian and Mr Ho Tian Yee, who have been on the Board of SGX since its inception, will be retiring by rotation at the Annual General Meeting this year, and will not be seeking re-election. The appointment of new directors will be announced in due course.

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