Cessation of Non-Executive and Non-Independent Chairman

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This announcement has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”) in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Tan Pei Woon, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and E-mail: sponsorship@ppcf.com.sg).

Name of Person: Wang Yiming

Age: 49

Detailed Reason(s) for cessation: Mr Wang Yiming (“Mr Wang”) has resigned in order to assume other senior position within Henan Energy and Chemical Industry Group Co., Ltd, the controlling shareholder of the Company.

Based on its enquiries, the Company’s Sponsor is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Mr Wang as the Non-Executive and Non-Independent Chairman of the Company.