The Board of Directors of Cavalier Corporation Limited advises that it has determined, pursuant to Listing Rule 3.3.3 (a), that the following directors are, in its view, Independent Directors of the Company:
Mr Graeme Scott Hawkins
Mr Donald William Huse
Mr Alan Michael James
Mr Keith Leslie Thorpe
Mr Grant Conrad Webber Biel is not an Independent Director because he is an associate of a substantial security holder in the Company.
Messrs Wayne Keung Chung and Victor Thien Soo Tan are not Independent Directors because they are executives of the Company.
V T S Tan
Finance Director and Company Secretary
29 November 2011