Andrew Thomas Broomhead Resigns as CFO of Pacific Basin

The Board of Directors of Pacific Basin Shipping Limited announces that Andrew Thomas Broomhead has expressed his intention to resign his position as Chief Financial Officer and Executive Director of the Company in 2017.

Broomhead has indicated his wish to relocate with his family to the United Kingdom during the summer of 2017. Accordingly, Broomhead intends to step down from the role of CFO and Executive Director of the Company by or before the end of December 2017, subject to the Company’s recruitment of a suitable successor.

The Board has instructed the senior management to commence the search for Broomhead’s successor.

Broomhead confirms that he has no disagreement with the Board and there is no matter which needs to be brought to the attention of holders of securities of the Company in respect of his intended resignation.

Formal announcements under Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong in relation to Broomhead’s resignation as CFO and Executive Director of the Company and the appointment of his replacement will be made by the Company in due course.


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