Announcement Of Appointment Of Executive Director, Mermaid Drilling Ltd.
23 March 2012
| Appointment Details | ||
| Date of Appointment | 02/05/2012 | |
| Name | Mr. Stephen Gregor Lenz | |
| Age | 57 | |
| Country of principal residence | Thailand | |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | Mr. Lenz is an industry veteran with more than 30 years of experience in the offshore drilling business. He is well versed in this role, having previously held this position in the Company for three years from 13 August 2008 to 31 August 2011. He resigned on his own accord following structural changes in the Company's investment and operations management of its associate, Asia Offshore Drilling Limited, which was transferred to Seadrill Ltd. The Company has re-appointed him back into this position to continue to manage and provide leadership for the Company's offshore tender rig business. The Nomination Committee of the Board, having considered his past leadership in maintaining sound operating standards for the Company's tender rig business, believes that Mr. Lenz's resuming the role will continue the operations and growth of the Company's offshore tender rig business in a seamless manner. | |
| Whether appointment is executive, and if so, area of responsibility | This is an executive position. Mr. Lenz will be responsible to manage and provide leadership to the offshore tender rig business of the Company. |
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| Job Title | Executive Director, Mermaid Drilling Limited | |
| Working experience and occupation(s) during the past 10 years | Mr. Lenz's work experience includes three (3) years as Executive Director of Mermaid Drilling Ltd., two (2) years as Australian Country Manager for Songa Pty. Ltd., two (2) years as Rig Manager for Apexindo Pratama Duta Tbk and twenty three (23) years in various positions including Chief Electrician, Maintenance Supervisor, Rig Manager and Operations Manager throughout Asia for Transocean Inc. | |
| Shareholding in the listed issuer and its subsidiaries | 7,500 shares | |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None | |
| Conflict of interest | None | |
| Other Directorship | ||
| Past (for the last five years) | Mermaid Drilling Limited MTR-1 Limited MTR-2 Limited Mermaid Driling (Malaysia) Sdn. Bhd. Mermaid Drilling (Singapore) Pte. Ltd. MTR-1 (Singapore) Pte. Ltd. MTR-2 (Singapore) Pte. Ltd. MTR-3 (Singapore) Pte. Ltd. Kencana Mermaid Drilling Sdn. Bhd. Mermaid Kencana Rig 1 Pte. Ltd. Mermaid Kencana Rigs (Labuan) Pte. Ltd. Asia Offshore Drilling Limited Asia Offshore Rig 1 Limited Asia Offshore Rig 2 Limited Asia Offshore Rig 3 Limited Asia Offshore Drilling Pte. Ltd. |
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| Present | Atwell Oilfield Solutions Pty. Ltd. | |
| Information required pursuant to Listing Rule 704(7)(h) | ||
| a. | Whether at any time during the last 10 years, a petition under any bankruptcy laws of any jurisdiction was filed against him or against a partnership of which he was a partner? | No |
| b. | Whether at any time during the last 10 years a petition under any law of any jurisdiction was filed against a corporation of which he was a director or key executive for the winding up of that corporation on the ground of insolvency? | No |
| c. | Whether there is any unsatisfied judgement against him? | No |
| d. | Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment for 3 months or more, or has been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such purpose? | No |
| e. | Whether he has ever been convicted of any offence, in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such breach? | No |
| f. | Whether at any time during the last 10 years, judgement has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misinterpretation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings which he is aware of involving an allegation of fraud, misinterpretation or dishonesty on his part)? | No |
| g. | Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any corporation? | No |
| h. | Whether he has ever been disqualified from acting as a director of any corporation, or from taking part directly or indirectly in the management of any corporation? | No |
| i. | Whether he has ever been the subject of any order, judgement or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| j. | Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No | |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No | |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No | |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, | No | |
| in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | ||
| k. | Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Information required pursuant to Listing Rule 704(7)(i) | ||
| Any prior experience as a director of a listed company? | No | |
| If yes, please provide details of prior experience. | Not applicable. This is not an appointment onto the Board of Directors of the Company |