Change - Announcement of Cessation::Resignation of an Executive Officer

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
21-Apr-2017 17:50:11
Status
New
Announcement Sub Title
Resignation of an Executive Officer
Announcement Reference
SG170421OTHRNFFY
Submitted By (Co./ Ind. Name)
John Gronbech
Designation
Executive Director and CEO
Description (Please provide a detailed description of the event in the box below)
Please see attached.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, SAC Advisors Private Limited ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

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

The contact person for the Sponsor is Mr Sebastian Jones, Director, SAC Advisors Private Limited, at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542, telephone (65) 6532 3829.

SAC Capital Private Limited is the parent company of SAC Advisors Private Limited.

Additional Details

Name Of Person
ANDREW LESLIE FOOKS
Age
39
Is effective date of cessation known?
Yes
If yes, please provide the date
21/04/2017
Detailed Reason (s) for cessation
Following the recent Board restructuring and the re-designation of Mr Simon John Cunningham as Chief Financial Officer of the Group, Mr Andrew Leslie Fooks has agreed to resign as an Executive Officer but will remain with the Company as Southeast Asia Regional Director with no change to his day-to-day responsibilities.

The Sponsor, after having interviewed Mr Andrew Leslie Fooks, is satisfied that save as disclosed in this announcement, there are no other material reasons for the resignation of Mr Andrew Leslie Fooks as an Executive Officer.
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
29/06/2015
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)
4
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.)
Southeast Asia Regional Director.
Role and responsibilities
Responsible for the operations of subsurface and wells business segment in Southeast Asia.
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
9,992 options to acquire 9,992 ordinary shares in AWT International Pty Ltd
Past (for the last 5 years)
Petra AWT Sdn Bhd
Present
AWT International (Asia) Sdn Bhd
AWT International (PNG) Sdn Bhd
HMS Energy Sdn Bhd.
AWT International (Decommissioning) Sdn Bhd