have independent management to run

Minority shareholders of Alliance Select Foods International Inc. have objected to the
sudden appointment associated with Raymond See as the company's new President and
CHIEF EXECUTIVE OFFICER, which came following the retirement/resignation of corporate
officers
such as Jonathan Dee plus a reorganization of the company's
top rated brass.
Alliance Director Hedy Yap-Chua, who represents Singaporean minority shareholders in Alliance
reiterated the group's
earlier stance that a company with the financial performance
of Alliance needs more than new faces elected by the same controlling interests to effect the turnaround in its performance as well as governance. "In
our see, nothing short of an independent Temporary Management Committee made of
specialists in the company's business having a background in finance, can achieve the levels of
governance
as well as financial accountability that a PSE listed company such as Alliance
needs", replied Ms. Yap-Chua, when asked about the changes announced by the
company.
The legal cases filed by the minority group of shareholders in February over
the alleged refusal to open the particular company's books and suggestions of
corporate mismanagement haven't moved from the investigation stage and remain unresolved
inside almost 10 months.
"As minority shareholders, we stay hopeful that our resort to the particular legal system of the
Philippines for protection of the protection under the law of shareholders to access business
books and records as well as the appointment of an distinct management committee will be
granted due course. We are self-assured that any objective writeup on the previous

management and board will find that items need to be seriously addressed, " Ms. Yap-Chua
added.
In the disclosure to the Philippine Stock Exchange, Alliance stated that over the Board of
Director's meeting last
December 8, Mr. See was designated to take the position of Alliance founder Jonathan Dee as
President and
CEO. Mr. Dee will be moving on as Chairman of the company's Board of
Directors.
With his appointment as President as well as CEO, Mr. See ended up being also given a seat in
the company's Board of Directors.
Coincidental?
Prior to his appointment as Alliance President and CEO, Mr. See served as Senior Vp for
Operations since becoming a member of the company in September 1, 2014. Before joining
Alliance, Mr. See
reportedly occupied an executive position with Pilipinas Shell Petroleum Corp.
In an earlier statement, the new Chairman of Alliance as well as former CEO,
Mr. Jonathan Dee said the reorganization in the company's top management "is nothing more
than
coincidental" to be able to ongoing disputes between directors representing the controlling
group in Alliance and a selection of minority shareholders in the corporation that had earlier
brought up complaints of being barred from inspecting books
and information as well as being diluted through acts
of the controlling team.
The dispute at Alliance has already resulted to an exchange of lawsuits, including criminal|legal
charges filed by the Dee
family against the representatives of the minority shareholders for libel and a separate criminal
case accusing the

revelation of company secrets to the public.

The minority group later filed another case questioning the actual issuance of a significant number
of shares to a new investor - Strongoak, Inc. -- which resulted to the dilution of minority
shareholdings, and also the use of the new investor's voting powers to
eliminate minority shareholders' representation in the Board.
Within yet another lawsuit brought in the Alliance, minority shareholders
also accused seven Alliance officialsofficers administrators of grave
mismanagement.
Appointment and retrenchments
The appointment of Mr. See as the new President and CEO is widely expected to intensify the
dispute between the group of majority shareholders led by Mr. Dee and the minority shareholders
based in
Singapore.
Mr. See joined Alliance as an appointee of the controlling group of| directors, including Strongoak,
in whose
entry into the company is being questioned by the Singaporean group shareholders.
Mr. See's assumption of the new role also comes amid the retrenchment of
eight Alliance staff at its General Santos City plant which is viewed as indication of the company's
current financial position.
The retrenchment of the staff - including an Asst Plant
Manager, Logistics Manager, Labelling Leadperson, Sanitation Leadperson - will be effective
December 31.
In a report to the Department of Labor, Alliance cited redundancy as the reason for the
employees' retrenchment.
{Jonathan Dee Jonathan Dee Alliance Select|Alliance Select Foods International Inc.| Jonathan

Dee Alliance Select Foods International Inc.|Jonathan Dee Philippines|Jonathan Dee

tuna|Philippine tuna|Philippine tuna industry|