The Announcement and the Circular had stated that Mr. Richard Samuel Elman would be appointed as an executive director of New Noble. The Company has now been informed that Mr. Elman has decided that for personal reasons he will not be taking up the appointment as executive director of New Noble as previously envisaged.
The board of New Noble (which will be in compliance with the independence requirements under the Code of Corporate Governance) will be in place by the Restructuring Effective Date. Further details of the members of the board of New Noble, once identified and finalised, will be announced prior to the Restructuring Effective Date.
The Company and the Board would like to thank Mr. Elman and acknowledge his immense contribution in founding and leading the company which during its history became the largest commodities company in Asia, a platform for the careers of thousands of people in the industry, and a Fortune 500 company.
Statement: Noble Group Limited