Change - Announcement of Cessation::Cessation of Mr Michael John Duncan as Managing Director of Gaylin International Pte Ltd

Issuer & Securities

Issuer/ Manager
GAYLIN HOLDINGS LIMITED
Securities
GAYLIN HOLDINGS LIMITED - SG2F28986253 - RF7
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
07-Aug-2017 18:31:52
Status
New
Announcement Sub Title
Cessation of Mr Michael John Duncan as Managing Director of Gaylin International Pte Ltd
Announcement Reference
SG170807OTHRWNYV
Submitted By (Co./ Ind. Name)
Sharon Yeoh
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Michael John Duncan as Managing Director of Gaylin International Pte Ltd

Additional Details

Name Of Person
Michael John Duncan
Age
44
Is effective date of cessation known?
Yes
If yes, please provide the date
07/08/2017
Detailed Reason (s) for cessation
To strategise the Group's oil and gas business operations and to better serve the clients in the Europe region, the Board has decided that Mr Michael John Duncan ("Mr Duncan"), currently Managing Director of Gaylin International Pte Ltd, will focus on the operation of Rig Marine Holdings FZE ("Rigmarine").

Mr Steven Teo, CAO of the Company, will resume Mr Duncan's roles with the help of Mr Desmond Teo, CEO and the rest of the management team.
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
04/09/2015
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Managing Director of Gaylin International Pte Ltd, a principal subsidiary of Gaylin Holdings Limited.
Role and responsibilities
Mr Duncan's responsibilities at the Group include improvement of the overall infrastructure and corporate consistency, driving key functions in the areas of global sales and key contracts, as well as spearheading future growth programmes.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct - 3,529,412 ordinary shares
Past (for the last 5 years)
Nil
Present
Rigmarine Group of Companies