Announcement Title | Change - Announcement of Cessation |
Announcement Subtitle | Announcement of Cessation as Group Chief Executive Officer |
Securities |
OTTO MARINE LIMITED (OTTO) |
Date & Time of Broadcast | Apr 2, 2015 0:15 |
Submitted By |
Michael See Kian Heng Group Executive Director |
Description | Please refer to the below. |
Cessation Details | |
Name of person | Garrick James Stanley ("Mr. Stanley") |
Age | 42 |
Is effective date of cessation known? | Yes |
Effective date for cessation | Apr 2, 2015 |
Detailed reason(s) for cessation |
The Board of Directors of Otto Marine Limited (the "Company") has considered the Nominating Committee's recommendation and the qualifications, experiences and suitability of Mr. Stanley and has approved the appointment of Mr. Stanley as President - Shipping and Chartering. Mr. Stanley remains as Executive Director of the Company. |
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 | Aug 6, 2013 |
Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
Number of independent directors currently resident in Singapore (taking this account this cessation) | 1 |
Number of cessations of appointments specified in Listing Rule 704(7) or Catalist Rule 704(6) over the past 12 months | 1 |
Job Title | Executive Director and Group Chief Executive Officer |
Role and responsibilities | Mr. Stanley reported to the Executive Chairman of the Company and was responsible for execution and implementation of the Board's decisions, strategies and policies involving the Group, as well as conduct of the Group's businesses. |
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | Nil |
Shareholdings interest in the listed issuer and its subsidaries? | Yes |
Shareholding Details | Mr. Stanley has direct interest in 94,928,920 ordinary shares in the Company. |
Other directorships | |
Past (for the last 5 years) | Please see the attached Appendix A |
Present | Please see the attached Appendix A |
Attachments
- Appendix A (Size: 58,270 bytes)
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