Change - Announcement of Cessation::Retirement of Appointment as Independent Director

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
07-Oct-2024 07:14:08
Status
New
Announcement Sub Title
Retirement of Appointment as Independent Director
Announcement Reference
SG241007OTHR5J58
Submitted By (Co./ Ind. Name)
Ler Ching Chua
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Mr. Gary James Weisman is stepping down as an Independent and Non-Executive Director at the conclusion of the upcoming Annual General Meeting on 24 October 2024.

Additional Details

Name Of Person
Gary James Weisman
Age
73
Is effective date of cessation known?
Yes
If yes, please provide the date
24/10/2024
Detailed Reason (s) for cessation
Mr. Gary James Weisman is stepping down as an Independent and Non-Executive Director to enable board renewal after having served 9 years.
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
28/10/2015
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent and Non-Executive Director, Chairman of the Strategic Committee and Member of The Risk Management & Audit Committee.
Role and responsibilities
As an Independent and Non-Executive Director and Chairman of the Strategic Committee, Mr. Gary James Weisman, 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
Direct Interest - 275,000 Shares in Grand Banks Yachts Limited
Direct Interest - 250,000 Options in Grand Banks Yachts Limited
Other Directorships
Past (for the last 5 years)
Nil
Present
Grand Banks Yachts Limited