Koh Boon Hwee Resigns from Pacific Internet's Board - Xinhua

SINGAPORE, June 26 /Xinhua-PRNewswire-FirstCall/ -- Pacific Internet
Limited (Nasdaq: PCNTF) ("PacNet or the Company"), Asia Pacific's largest
telco-independent Internet Communications Service Provider by geographic
reach, today announced that Mr Koh Boon Hwee has resigned from its Board of
Directors ("Board").
Mr Koh's resignation follows the announcement by Connect Holdings
Limited ("Connect") on 25 June 2007 that its revised voluntary conditional
cash general offer to acquire all the issued ordinary shares of PacNet at
US$11.00 net in cash per share ("Offer") has been declared unconditional in
all respects and that the initial offer period has successfully closed.
As a nominee director of MediaRing Ltd ("MediaRing") on the Board, Mr
Koh is stepping down after MediaRing announced, on 7 June 2007 that it had
entered into an irrevocable undertaking with Connect to tender all of its
shares in PacNet into the Offer in consideration of Connect revising the
Offer price from US$10.00 per share to US$11.00 per share. Mr. Koh is
currently an Executive Director of MediaRing.
Commented Mr Phey Teck Moh, President and CEO of PacNet: "During his
tenure on the Board, Boon Hwee has contributed immensely to Board
discussions and worked in the best interests of PacNet. On behalf of the
Board and the Company, I would like to thank Boon Hwee for his invaluable
contributions to PacNet."
source:xinhua

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