Change - Announcement of Cessation::Re-designation of Mr Raymond Kim Goh @ Goh Kim Teck as Executive Chairman to Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
SWIBER HOLDINGS LIMITED
Securities
SWIBER HOLDINGS LIMITED - SG1BI1000006 - BGK
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-May-2022 23:43:29
Status
New
Announcement Sub Title
Re-designation of Mr Raymond Kim Goh @ Goh Kim Teck as Executive Chairman to Non-Executive Chairman
Announcement Reference
SG220525OTHRGCAJ
Submitted By (Co./ Ind. Name)
Bob Yap Cheng Ghee, c/o KPMG Services Pte. Ltd. / Raymond Kim Goh
Designation
Judicial Managers / Chairman
Description (Please provide a detailed description of the event in the box below)
Re-designation of Mr Raymond Kim Goh @ Goh Kim Teck as Executive Chairman to Non-Executive Chairman

Additional Details

Name Of Person
Raymond Kim Goh @ Goh Kim Teck
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
25/05/2022
Detailed Reason (s) for cessation
Unless otherwise stated herein, all capitalised terms used herein shall have the same meanings ascribed to them in the circular dated 11 April 2022 issued by Swiber Holdings Limited ("Company") to shareholders.

In connection with the Internal Restructuring and the transfer of Assumed Employees as contemplated under the Investment Agreement, Raymond Goh's employment agreement with the Company has been terminated and his employment with PAPE Engineering Pte. Ltd. (a wholly-owned subsidiary of the Company) ("PAPE") is deemed to have commenced, on 25 May 2022. He will remain as a Director of the Company. Accordingly, he has been re-designated as Executive Chairman to Non-executive Chairman of the Board. Please refer to Section 2.3 of the Company's circular for further details on the Internal Restructuring.
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
08/11/2016
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into 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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman
Role and responsibilities
As Founder and Executive Chairman of the Swiber Group, Mr. Goh was a key figure in leading Swiber's overall business, operations and marketing activities globally.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
N/A
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest in 3,900,000 shares in Swiber Holdings Limited (under Judicial Management) and Deemed interest in 70,034,083 shares in Swiber Holdings Limited (under Judicial Management) held by Newshire Capital Limited.
Past (for the last 5 years)
Ohana Equity Corporation (Struck Off)
Present
1. Ocentra Offshore Pte. Ltd.
2. PAPE Engineering Pte. Ltd.
3. Equatoriale Energy Pte. Ltd.
4. Resiliant Offshore Pte. Ltd.
5. Equatoriale Holdings Pte. Ltd.
6. Newshire Capital Limited