Change - Announcement Of Cessation Of An Executive Director
28 October 2016
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | Cessation of an Executive Director |
| Securities | MERMAID MARITIME PUBLIC CO LTD (MERMAID) |
| Date & Time of Broadcast | Oct 28, 2016 18:27 |
| Submitted By | Ms. Rujiraporn Hengtrakool Manager, Legal & Corporate Affairs Dept. |
| Description | Cessation of Mr. Chia Wan Huat Joseph, Executive Director |
| Cessation Details | |
| Name of person | Mr. Chia Wan Huat Joseph |
| Age | 57 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Oct 28, 2016 |
| Detailed reason(s) for cessation | Mr. Chia, a key executive of the Thoresen Group, has been assigned to focus on another role within the Thoresen Group where he will pioneer various new business opportunities. Mr. Chia will continue to serve the Company in his capacity as Senior Executive Vice President and also serve as a member of the Executive Committee of the Company. |
| 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 | Following Mr. Chia's cessation as an Director, he shall also vacate his role as a member of the Nomination Committee of the Company. The Board would like to thank Mr. Chia for his role on the Board of the Company and also for his valuable contributions and insights given his broad experience, expertise and passion for serving. The vacancy also allows for the appointment of another candidate to the Board who can focus attention on further strengthening the fundamentals of the Company during this period of time. |
| Date of appointment to current position | Oct 21, 2013 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this 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 | 9 |
| Job Title | Executive Director, Member of the Nomination Committee and the Executive Committee. |
| Role and responsibilities | Responsible for overseeing the overall management for the Group. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | None. |
| Shareholdings interest in the listed issuer and its subsidaries? | Yes |
| Shareholding Details | 40,000 ordinary shares |
| Other directorships | |
| Past (for the last 5 years) | 1. Zamil Mermaid Offshore Services Company LLC 2. Seascape Surveys (Thailand) Ltd. |
| Present | 1. Thoresen Thai Agencies Public Company Limited 2. Mermaid Subsea Services (Thailand) Ltd. 3. Seascape Surveys Pte. Ltd. 4. Mermaid Subsea Services (International) Ltd. 5. Mermaid Subsea Services LLC 6. Mermaid Offshore Services Pte. Ltd. 7. Mermaid Drilling Ltd. 8. Mermaid Drilling (Malaysia) Sdn. Bhd. 9. MTR-1 Ltd. 10. MTR-2 Ltd. 11. MTR-1 (Singapore) Pte. Ltd. 12. MTR-2 (Singapore) Pte. Ltd. 13. MTR-3 (Singapore) Pte. Ltd. 14. MTR-4 (Singapore) Pte. Ltd. 15. Mermaid MTN Pte. Ltd. 16. Mermaid Maritime Mauritius Ltd. 17. Mermaid International Ventures 18. PM Thoresen Asia Holdings Public Company Limited 19. Soleado Holdings Pte. Ltd. 20. Thoresen Shipping Singapore Pte. Ltd. 21. Thoresen & Company (Bangkok) Ltd. 22. Thoresen Shipping ZPE 23. Thoresen (Indochina) S.A. 24. Petrolift Inc. 25. Thoresen Shipping and Logistics Ltd. 26. Baconco Co., Ltd. 27. Unique Mining Services Public Company Limited 28. UMS Distribution Co., Ltd. 29. UMS Lighter Co., Ltd. 30. UMS Pellet Energy Co., Ltd. 31. UMS Port Services Co., Ltd. 32. Chidlom Marine Services & Supplies Ltd. Prior to or upon his cessation, Mr. Chia will also resign from his directorship of Mermaid subsidiaries (company no. 2-17 of the above list). |