Announcement Of Cessation As Chief Executive Officer
BackDec 23, 2012
| Resignation Details | |
| Name Of Person | Robert William Livingston II |
| Age | 43 |
| Is Effective Date Of Cessation Known? | Yes |
| Effective Date Of Cessation | 31/12/2012 |
| Detailed Reason(s) for Cessation | Mr. Robert William Livingston II informed the Board of Directors that he did not wish to seek renewal of his employment contract upon its expiration on 31 December 2012. |
| Is there any difference of opinion on material matters between the person and the Board of directors? | No |
| If yes, please elaborate | NA |
| 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 |
| If yes, please elaborate | NA |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| If yes, please elaborate | NA |
| Date of Appointment to current position | 01/04/2009 |
| Job Title | Chief Executive Officer |
| Role and Responsibilities | Responsible for overall management of Grand Banks Yachts Limited. |
| Does the AC have a minimum of 3 members (taking into account this resignation)? | 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) over the past 12 months | 0 |
| Interest in the listed issuer and its subsidiaries | Mr Robert William Livingston II held 217,000 issued ordinary shares of Grand Banks Yachts Limited as at 19 October 2012. |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Yes. Mr Robert William Livingston II's father is a substantial shareholder of Grand Banks Yachts Limited through Merlion LP. |
| Other Directorship | |
| Past Directorship (for the last five years) | Executive Director of Grand Banks Yachts Limited. |
| Present Directorship | None |
| Other Notes | |
| Footnotes | See attachment. |
Attachments
- Attachment 1 (Size: 185,701 bytes)