RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER

1.         Resignation of Executive Director and Chief Executive Officer

1.1        The Board of Directors of the Company (the “Board”) wishes to announce Captain Adarash Kumar S/O Chranji Lal Amarnath (“Capt Kumar”) has tendered his resignation as Executive Director and Chief Executive Officer, and his last day of service will be on 6 April 2018.

The Board would like to express appreciation to Captain Kumar for his contributions to the Group during his tenure and wishes him well in his future endeavours.

1.2        Capt Kumar will continue in his duties and responsibilities pending the appointment of a suitable candidate in due course.

2.         General

This announcement is subject to disclosure in accordance with section 5-12 of the Norwegian Securities Trading Act.

By Order of the Board

Lee Kian Soo

Director

18 January 2018