43
GRAND BANKS YACHTS LIMITED
ANNUAL REPORT
2016
DIRECTORS’ STATEMENT
We are pleased to submit this annual report to the members of the Company together with the audited financial statements
for the financial year ended 30 June 2016.
In our opinion:
(a)
the financial statements set out on pages 49 to 94 are drawn up so as to give a true and fair view of the financial
position of the Group and of the Company as at 30 June 2016 and the financial performance, changes in equity and
cash flows of the Group for the year ended on that date in accordance with the provisions of the Singapore Companies
Act, Chapter 50 and Singapore Financial Reporting Standards; and
(b)
at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts
as and when they fall due.
The Board of Directors has, on the date of this statement, authorised these financial statements for issue.
DIRECTORS
The directors in office at the date of this statement are as follows:
Heine Askaer-Jensen
Basil Chan
Gerard Lim Ewe Keng
Mark Jonathon Richards
Gary James Weisman
(Elected and appointed on 28 October 2015)
DIRECTORS’ INTERESTS
According to the register kept by the Company for the purposes of Section 164 of the Companies Act, Chapter 50 (the Act),
particulars of interests of directors who held office at the end of the financial year (including those held by their spouses and
infant children) in shares, debentures, warrants and share options in the Company and in related corporations (other than
wholly-owned subsidiaries) are as follows:
Ordinary Shares
Share Options
The Company
Holdings at
beginning of year/
date of appointment
Holdings at
end of year
Holdings at
beginning of year/
date of appointment
Holdings at
end of year
Heine Askaer-Jensen*
501,500
501,500
200,000
200,000
Basil Chan*
101,500
101,500
200,000
200,000
Gerard Lim Ewe Keng*
12,000
12,000
200,000
200,000
Mark Jonathon Richards*
11,025,400
11,025,400
1,350,000
1,350,000
Gary James Weisman*
275,000
275,000
–
–
* The Company’s Articles of Association require each director to hold at least 1,000 shares.
Except as disclosed in this statement, no director who held office at the end of the financial year had interests in shares,
debentures, warrants or share options of the Company, or of related corporations, either at the beginning of the financial
year, or at date of appointment if later, or at the end of the financial year.
There was no change in any of the above mentioned interests in the Company between the end of the financial year and
21 July 2016.
