Sat Pal Khattar steps down as GuocoLand's Chairman

He announced that he will not to offer himself for re-election as Director of the Company.

The Board of GuocoLand announced the resignation of Sat Pal Khattar as Chairman of GuocoLand. Mr Khattar has informed the Board of his intention not to offer himself for re-election as Director of the Company at the Company’s forthcoming Annual General Meeting to be held on 12 October 2012 (“AGM”). Accordingly, he will cease to be Chairman of the Company, Chairman of the Nominating Committee, Chairman of the Remuneration Committee and member of the Executives’ Share Option Scheme Committee, at the conclusion of the AGM.

Aside from being a Director and Chairman, Mr Khattar, 69, was also a Chairman of the Nominating Committee, Chairman of the Remuneration Committee and member of the Executives' Share Option Scheme Committee.

As a Chairman, he chaired all Board meetings and leads the Board in its oversight of management. Also, during annual general meetings and other shareholder meetings, he fostered constructive dialogue between shareholders, the Board and management, according to a GuocoLand report.

He was appointed to the post 1 August 1990.