Change - Announcement of Cessation::Cessation of Independent Director

Issuer & Securities

Issuer/ Manager
GRAND BANKS YACHTS LIMITED
Securities
GRAND BANKS YACHTS LIMITED - SG0504000043 - G50
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Oct-2015 19:04:18
Status
New
Announcement Sub Title
Cessation of Independent Director
Announcement Reference
SG151028OTHRPH8R
Submitted By (Co./ Ind. Name)
Ler Ching Chua
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
There are two cessations (taking into account this cessation) and 1 new appointment taking place contemporaneously.

Additional Details

Name Of Person
Jeffrey Stewart Bland
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
28/10/2015
Detailed Reason (s) for cessation
Resignation as part of the Board renewal process.
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?
Yes
If Yes, Please provide full details
Dr. Bland has options in respect of 200,000 shares in the capital of the Group.
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
02/03/2007
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.)
Independent Director
Role and responsibilities
Independent Director, Chairman of the Nominating Committee and member of the Remuneration as well as the Risk Management & Audit Committees.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
He has 1,000 shares in the listed issuer.
Past (for the last 5 years)
Grand Banks Yachts Limited
Present
KinDex Therapeutics Ltd.
Personalized Lifestyle Medicine Institute.
Marine Therapeutics, LLC.