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Chemoil's Clyde Michael Bandy is set to step down as director at the upcoming Annual General Meeting (AGM) later this month.

In a document giving notice of the AGM, due to take place on Friday 29th April 2011, Chemoil said that Bandy would be retiring in accordance with Article 119 of the Articles of Association at the conclusion of the AGM. "Mr. Bandy has decided not to seek re-election," the document said.

During the AGM Chemoil said it will be re-electing the following Directors of the Company retiring pursuant to Articles 119 and 126 of the Articles of Association:

Mr. Peter Michael Meade (Retiring under Article 119) (Resolution 2)
Mr. Steven Barry John Simpson (Retiring under Article 126) (Resolution 3)
Mr. Thomas Kevin Reilly (Retiring under Article 126) (Resolution 4)
Mr. Hon Kim Weng (Retiring under Article 126) (Resolution 5)
Mr. Takashi Yasuda (Retiring under Article 126) (Resolution 6)

Peter Michael Meade will, upon re-election as a Director of the Company, remain as a member of the Audit Committee and Nominating and Remuneration Committee and will be considered independent.

Steven Barry John Simpson will, upon re-election as a Director of the Company, remain as Chairman of the Audit Committee and will be considered independent.

Chemoil said it will also be appointing Deloitte Touche Tohmatsu as auditors of the company in place of the retiring auditors PricewaterhouseCoopers, to hold office until the conclusion of the next Annual General Meeting of the company.

The AGM will be held at the Marina Mandarin Singapore, Vanda Ballroom, Level 5, 6 Raffles Boulevard, Marina Square, Singapore 039594 on Friday, 29 April 2011 at 3.00 p.m.