Change - Announcement of Cessation::Cessation of Non-Executive Director (Mr Pier Francesco Ragni)

Issuer & Securities

Issuer/ Manager
VARD HOLDINGS LIMITED
Securities
VARD HOLDINGS LIMITED - SG2C47963963 - MS7
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-Oct-2016 23:28:42
Status
New
Announcement Sub Title
Cessation of Non-Executive Director (Mr Pier Francesco Ragni)
Announcement Reference
SG161003OTHRCH9K
Submitted By (Co./ Ind. Name)
Elizabeth Krishnan
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Director (Mr Pier Francesco Ragni)

Additional Details

Name Of Person
Pier Francesco Ragni
Age
45
Is effective date of cessation known?
Yes
If yes, please provide the date
30/09/2016
Detailed Reason (s) for cessation
Within the context of a broad internal reorganization of the Fincantieri group, the holding company has nominated Mr Claudio Cisilino to be appointed as a director of the Company in place of Mr Pier Francesco Ragni.
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
15/03/2013
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking 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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director; Member of the Audit Committee and the Remuneration Committee
Role and responsibilities
Assumed the roles and responsibilities of a non-executive director and a member of the Audit Committee and the Remuneration Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Fincantieri USA Inc.
Isotta Fraschini Motori S.p.A.
Orizzonte Sistemi Navali S.p.A.
Delfi S.r.l.
Present
Vard Group AS
FMSNA Inc.
Fincantieri Marine Group Holdings Inc.
Fincantieri Marine Group LLC
ACE Marine LLC
SEAF S.p.A.
Seastema S.p.A.