Change - Announcement of Cessation::Announcement of Cessation

Issuer & Securities

Issuer/ Manager
GRAND BANKS YACHTS LIMITED
Securities
GRAND BANKS YACHTS LIMITED - SG0504000043 - G50
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Jul-2024 19:00:47
Status
New
Announcement Sub Title
Announcement of Cessation
Announcement Reference
SG240716OTHRSD4H
Submitted By (Co./ Ind. Name)
Ler Ching Chua
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Demise of Non-Executive Chairman and Independent Director

Additional Details

Name Of Person
Heine Askaer-Jensen
Age
70
Is effective date of cessation known?
Yes
If yes, please provide the date
16/07/2024
Detailed Reason (s) for cessation
Passed away on 15 July 2024 (Denmark time)
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
14/11/2011
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)
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.)
Non-Executive Chairman, Chairman of Remuneration Committee, Member of Risk Management & Audit Committee, Nominating Committee and Strategic Committee
Role and responsibilities
As Non-Executive Chairman, Mr. Heine Askaer-Jensen, 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
701,500 shares in Grand Banks Yachts Limited
Past (for the last 5 years)
Nil
Present
Grand Banks Yachts Limited