Change - Announcement of Cessation::Resignation of Chief Executive Officer and Executive Director

Issuer & Securities

Issuer/ Manager
NAUTICAWT LIMITED
Securities
NAUTICAWT LIMITED - SG1BE2000004 - 42D
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
14-Dec-2020 20:43:25
Status
New
Announcement Sub Title
Resignation of Chief Executive Officer and Executive Director
Announcement Reference
SG201214OTHR9Z7C
Submitted By (Co./ Ind. Name)
Dr Chirasak Chiyachantana
Designation
Non-Independent Non-Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Executive Officer and Executive Director

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. The SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness, or correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01-01, Singapore 229957, telephone (65) 6590 6881.

Additional Details

Name Of Person
John Gronbech
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
14/12/2020
Detailed Reason (s) for cessation
Following the completion of the disposal of Nautec Group Pte Ltd ("NGPL") to Mr John Gronbech, Mr John Gronbech has resigned as Chief Executive Officer and Executive Director of the Company to devote his time to manage the company affairs of NGPL. As such, he will no longer hold any position or role in the Company.

The Sponsor, after having interviewed Mr John Gronbech, is satisfied that, save as disclosed in the announcement, there are no other material reasons for the resignation of Mr John Gronbech as the Chief Executive Officer and Executive Director of the Company.
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
02/09/2011
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Executive Director
Role and responsibilities
Responsible for setting the strategic business development and client management of the Group and oversees the overall management of the Group.
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
30,057,162 ordinary shares in NauticAWT Limited
Past (for the last 5 years)
NauticAWT Energy Pte. Ltd.
Nautic (P.A) Pte. Ltd. (struck off)
NauticAWT Engineering Pte Ltd (Liquidated)
AWTI International Pty Ltd (under administration)
NVP Georgia LLC
NauticAWT Engenharia E Consultoria Ltda. (Deregistered)
Present
Nautec Pte. Ltd.
Nautec Group Pte. Ltd.
Nautic India Pvt Ltd
Nautic Materials Sdn Bhd
Nautic (B) Sdn Bhd
Nautic Australia Pty Ltd
Nautic Offshore Mexico S.A. de C.V.
Nautic Middle East DMCC