Change - Announcement Of Cessation Of Executive Vice President, Mermaid Subsea Services
08 August 2016
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | Cessation of Executive Vice President, Mermaid Subsea Services |
| Securities | MERMAID MARITIME PUBLIC CO LTD (MERMAID) |
| Date & Time of Broadcast | Aug 8, 2016 23:03 |
| Submitted By | Ms. Rujiraporn Hengtrakool Manager, Legal & Corporate Affairs Dept. |
| Description | Cessation of Mr. Paul Burger Whiley, Executive Vice President, Mermaid Subsea Services |
| Cessation Details | |
| Name of person | Paul Burger Whiley |
| Age | 48 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Aug 8, 2016 |
| Detailed reason(s) for cessation | Resignation to pursue personal and other professional interests. |
| 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 acknowledges Mr. Paul Burger Whiley as one of the co-founders of Mermaid Subsea Services (International) Ltd., formerly known as Subtech Ltd., which was incorporated in 2008 and acquired by the Company in 2010. He was subsequently appointed head of the Company's subsea group in August 2012. During this time, he contributed to the stability and growth of the subsea group as a whole. |
| Date of appointment to current position | Aug 24, 2012 |
| 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 | 6 |
| Job Title | Executive Vice President, Mermaid Subsea Services |
| Role and responsibilities | To manage and oversee the subsea services business of the Company. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | Nil. |
| Shareholdings interest in the listed issuer and its subsidaries? | Yes |
| Shareholding Details | 3,200 ordinary shares in Mermaid Maritime Public Company Limited |
| Other directorships | |
| Past (for the last 5 years) | Nil. |
| Present | Mr. Whiley is also a director of the following subsidiary and associate entities of the Company: Mermaid Subsea Services (International) Ltd.; Mermaid Subsea Services LLC; Mermaid Subsea Services (Saudi Arabia) Co. Ltd.; and Zamil Mermaid Offshore Services Company LLC Prior to or upon his cessation, Mr. Whiley will resign from his directorship of these subsidiary and associate companies. |