Change - Announcement Of Cessation Of Chief Financial Officer
15 December 2015
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | Cessation of Chief Financial Officer |
| Securities | MERMAID MARITIME PUBLIC CO LTD (MERMAID) |
| Date & Time of Broadcast | Dec 15, 2015 19:30 |
| Submitted By | Ms. Rujiraporn Hengtrakool Manager, Legal & Corporate Affairs Dept. |
| Description | Cessation of Mr. Katarat Suksawang, Chief Financial Officer |
| Cessation Details | |
| Name of person | Mr. Katarat Suksawang |
| Age | 49 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | Jan 1, 2016 |
| Detailed reason(s) for cessation | As part of his career development and building further on Mr. Suksawang's extensive experience and expertise in the shipping sector, Mr. Suksawang has been assigned new responsibilities as Chief Financial Officer of Thoresen Shipping, a subsidiary of Thoresen Thai Agencies Public Company Limited, the Company's controlling shareholder. |
| 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 would like to thank Mr. Suksawang for his role in overseeing the financial and accounting function of the Company. During his tenure, the Company achieved record net profit in 2014 and has also set the foundations for financial sustainability during this current down cycle in the oil and gas industry. The Company places on record its appreciation to Mr. Suksawang for his contribution and wish him well on his next assignment. |
| Date of appointment to current position | Jan 2, 2014 |
| 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 | 2 |
| Job Title | Chief Financial Officer |
| Role and responsibilities | Responsible for the overall finance and accounting function of the Company. |
| 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? | No |
| Other directorships | |
| Past (for the last 5 years) | APL Logistics Svcs (Thailand) Ltd. N.O.L. Properties Thailand Ltd. APL Agencies (Thailand) Ltd. |
| Present | Mermaid Subsea Services (Thailand) Ltd. Seascape Surveys (Thailand) Ltd. Mermaid Drilling Ltd. MTR-1 Ltd. MTR-2 Ltd. Seascape Surveys Pte. Ltd. Mermaid Drilling (Malaysia) Sdn. Bhd. Mermaid Drilling (Singapore) Pte. Ltd. MTR-1 (Singapore) Pte. Ltd. MTR-2 (Singapore) Pte. Ltd. MTR-3 (Singapore) Pte. Ltd. MTR-4 (Singapore) Pte. Ltd. Mermaid MTN Pte. Ltd. Mermaid Offshore Services Pte. Ltd. Mermaid Subsea Services (International) Ltd. Upon his cessation, Mr. Suksawang will resign from his directorship of these subsidiaries of the Company. |