Change - Announcement of Cessation::Cessation of non-independent and non-executive director
Issuer & Securities
GRAND BANKS YACHTS LIMITED
GRAND BANKS YACHTS LIMITED - SG0504000043 - G50
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Cessation of non-independent and non-executive director
Submitted By (Co./ Ind. Name)
Ler Ching Chua
Description (Please provide a detailed description of the event in the box below)
Announcement of cessation as non-independent and non-executive director.
Name Of Person
Robert William Livingston
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Robert William Livingston was not re-appointed a director of the Company by shareholders at the Annual General Meeting of the Company held on 8 October 2014 ("AGM"), and pursuant to Section 153 of the Companies Act (Cap. 50), ceased to be a director of the Company at the conclusion of the AGM.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-independent and non-executive director
Role and responsibilities
Duties as non-independent and non-executive director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
He directly holds 1,189,555 shares in the Company. He also has deemed interest in 26,250,000 shares in the Company held by Merlion LP.
Past (for the last 5 years)