Change - Announcement of Cessation::Cessation of Non-Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
OCEANUS GROUP LIMITED
Securities
OCEANUS GROUP LIMITED - SG1M80907371 - 579
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
08-May-2019 17:26:17
Status
New
Announcement Sub Title
Cessation of Non-Independent Non-Executive Director
Announcement Reference
SG190508OTHRVYCM
Submitted By (Co./ Ind. Name)
Peter Koh Heng Kang
Designation
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Independent Non-Executive Director

Additional Details

Name Of Person
Jason Aleksander Kardachi
Age
46
Is effective date of cessation known?
Yes
If yes, please provide the date
08/01/2018
Detailed Reason (s) for cessation
The Company was informed that Mr Kardachi was required to vacate his office as a director of the Company pursuant to section 155A of the Companies Act Chapter 50 ( CA ) for five years commencing from 8 January 2018. Mr Kardachi subsequently explained to the Company that (a) his directorships in the companies that were struck off the register were incidental to his job as an insolvency practitioner and do not suggest his lack of ability, integrity or competence to act as a director of a company, (b) he does not fall within the profile of errant directors that section 155A of the CA targets, and (c) his disqualification will not serve the purpose of protecting the public. On 18 October 2018, Mr Kardachi filed an application for leave from the Court to act as a director of, or take part in or be concerned in the management of, companies, pursuant to section 155A(3) of the CA ( Leave Application ). While the Leave Application was unfortunately dismissed on 8 April 2019 ( Decision ), Mr Kardachi intends to file an appeal against the Decision. Pending the outcome of such appeal however, Mr Kardachi's office as director of the Company is vacated.
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
13/04/2015
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent Non-Executive Director and member of each of the Nominating Committee and the Remuneration Committee
Role and responsibilities
Non-Independent Non-Executive Director
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 in the Company s shares 5,635,087 ordinary shares
Deemed Interested in 520,841,520 ordinary shares held by BW Investment Ltd by virtue of his shareholdings in Borrelli Walsh Asia Limited, the sole shareholder of BW Investment Ltd.
Past (for the last 5 years)
WULANSARI MARITIME PTE LTD
GANDARI MARITIME PTE LTD
DEWYANI MARITIME PTE LTD
INDRADI MARITIME PTE LTD
TIRTASARI MARITIME PTE LTD
ELITE BAUHINIA NAVIGATION PTE LTD
FRABANDARI MARITIME PTE. LTD.
FATMARINI MARITIME PTE. LTD.
HARSANADI MARITIME PTE. LTD.
HARTATI MARITIME PTE. LTD
ANJASMORO MARITIME PTE. LTD.
PRITA DEWI MARITIME PTE. LTD.
GAGARMAYANG MARITIME PTE. LTD.
PERGIWATI MARITIME PTE. LTD.
PRADAPA MARITIME PTE. LTD.
BARAWATI MARITIME PTE. LTD.
PERTIWI MARITIME PTE. LTD.
BERLIAN LAJU TANKER PTE. LTD.
PUJAWATI MARITIME PTE. LTD.
PRAMONI MARITIME PTE. LTD.
FATMARINI SHIPPING PTE. LTD.
FRABANDARI SHIPPING PTE. LTD.
GERBERA NAVIGATION PTE. LTD.
GANDINI MARITIME PTE LTD
DEBARRY PTE. LTD.
EARNTEX PROPERTY DEVELOPMENT PTE. LTD.
ENVIRONMENTAL HOLDING PTE LTD
OCEANUS GROUP LIMITED
OCEANUS AQUACULTURE GROUP PTE. LTD.
OCEANUS FOOD GROUP PTE. LTD.
TRIDONAWATI MARITIME PTE. LTD.
FOREGUARD SHIPPING I SINGAPORE PTE. LTD.
GLOBAL BEAUTY MANAGEMENT PTE. LTD.
AGRO ASIA PACIFIC LIMITED
JURONG AROMATICS CORPORATION PTE. LTD.
SIVA BULK LIMITED
SIVA SHIPS INTL. PTE. LTD.
SUAVE SHIPS PTE. LTD.
Present
NA