Change - Announcement Of Cessation Of Subsea Group Regional Director, Eastern Hemisphere
19 January 2017
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 19, 2017 18:03 |
| Status | New |
| Announcement Sub Title | Cessation Of Subsea Group Regional Director, Eastern Hemisphere |
| Announcement Reference | SG170119OTHRZR40 |
| Submitted By (Co./ Ind. Name) | Mr. Wuthichai Chongcharoenrungrot |
| Designation | Senior Manager, Legal & Corporate Affairs |
| Description (Please provide a detailed description of the event in the box below) | Cessation Of Mr. William Macdonald, Subsea Group Regional Director, Eastern Hemisphere |
| Additional Details | |
| Name Of Person | William Macdonald |
| Age | 60 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 31/01/2017 |
| Detailed Reason (s) for cessation | Retirement as per Company policy. |
| Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? | No |
| Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? | No |
| Any other relevant information to be provided to shareholders of the listed issuer? | Yes |
| If Yes, Please provide full details | The Company expresses its thanks and appreciation for the role that Mr. Macdonald has performed in maintaining the operational efficiency of the subsea services business in South East Asia including his leadership in delivering a safe, efficient and cost effective service to customers on various projects. Mr. Macdonald remains available to be retained by the Company on a consultancy basis where the wealth of his skills and experience can be of value to the next generation of managers. |
| Date of Appointment to current position | 23/11/2015 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 2 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 7 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Subsea Group Regional Director, Eastern Hemisphere |
| Role and responsibilities | To manage and oversee the day-to-day operations of the subsea services business of the Mermaid Group in the South East Asia region. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 13 ordinary shares in the Issuer. |
| Past (for the last 5 years) | Mermaid Subsea Services (Thailand) Ltd. |
| Present | None. |