39
GRAND BANKS YACHTS LIMITED
ANNUAL REPORT
2016
CORPORATE GOVERNANCE REPORT
Interested Person Transactions
(Listing Manual Rule 907 & 1207 (17))
The Group does not have a general mandate from shareholders for interested person transactions pursuant to Listing Manual
Rule 920.
Interested person transactions during the year were:
Name of Interested Person
Aggregate value of all interested
person transactions during FY2016
(excluding transactions less
than S$100,000 and transactions
conducted under shareholders’
mandate pursuant to Rule 920)
S$’000
Aggregate value of all interested
person transactions during FY2016
which are conducted under
shareholders’ mandate pursuant to
Rule 920 (excluding transactions
less than S$100,000)
S$’000
Mark Jonathon Richards
– Lease of manufacturing facility
in Berkeley Vale, Australia to a
subsidiary by an entity controlled
by him
243
0
Both transactions have been reviewed by the Risk Management & Audit Committee (“RMAC”) of the Company, and the RMAC
is of the view that the terms of the transactions are on normal commercial terms, and are not prejudicial to the interest of the
Company and its minority shareholders.
Material Contracts
(Listing Manual Rule 1207(8))
No material contracts of the Company or its subsidiaries involving the interests of the Chief Executive Officer or any Director
or controlling shareholders existed at the end of the financial year or have been entered into since the end of the previous
financial year other than that disclosed in Note 26 to the Financial Statements and Interested Person Transaction on this
page. In addition, no Director or a related company with a Director has received a benefit from any contract entered into by
the Group since the end of the previous financial year.
