Change - Announcement Of Retirement Of Independent Director
BackOct 07, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Oct 7, 2024 7:14 |
| Status | New |
| Announcement Sub Title | Retirement of Appointment as Independent Director |
| Announcement Reference | SG241007OTHR5J58 |
| Submitted By (Co./ Ind. Name) | Ler Ching Chua |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Mr. Gary James Weisman is stepping down as an Independent and Non-Executive Director at the conclusion of the upcoming Annual General Meeting on 24 October 2024. |
| Additional Details | |
| Name Of Person | Gary James Weisman |
| Age | 73 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 24/10/2024 |
| Detailed Reason (s) for cessation | Mr. Gary James Weisman is stepping down as an Independent and Non-Executive Director to enable board renewal after having served 9 years. |
| 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? | No |
| Date of Appointment to current position | 28/10/2015 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of Independent Directors currently resident in Singapore (taking into 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 | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent and Non-Executive Director, Chairman of the Strategic Committee and Member of The Risk Management & Audit Committee. |
| Role and responsibilities | As an Independent and Non-Executive Director and Chairman of the Strategic Committee, Mr. Gary James Weisman, together with other Board members set the overall strategies of the Group, monitored the performance of the management and business affairs of the Group. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | No |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Direct Interest - 275,000 Shares in Grand Banks Yachts Limited Direct Interest - 250,000 Options in Grand Banks Yachts Limited |
| Past (for the last 5 years) | Nil |
| Present | Grand Banks Yachts Limited |