St. James Holdings' Executive Director and COO resigns

The company still has no plans to look for replacement of Andrew George Ing.

The Board of Directors (the "Board") of the Company wishes to take this opportunity to thank Mr. Andrew George Ing for his services and contributions to the Group during his term of office and the Board extends their best wishes to Mr. Andrew George Ing in his future endeavours.

The Company has no plans yet to look for replacement for the position of COO. The work scope of the COO will be allocated to, and shared among the exisiting management team of the Group and they shall report directly to the Chief Executive Officer, according to a St. James Holdings report.

He was responsible for the day-to-day operations of the Group.