Change - Announcement of Cessation::Cessation of Chief Operating Officer and Deputy Chief Executive Officer - Mr Stoyan Radev Ialamov

Issuer & Securities

Issuer/ Manager
ATLANTIC NAVIGATION HOLDINGS (SINGAPORE) LIMITED
Securities
ATLANTIC NAVIGATION HLDG(S)LTD - SG2F00983534 - 5UL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
21-Mar-2025 18:44:58
Status
New
Announcement Sub Title
Cessation of Chief Operating Officer and Deputy Chief Executive Officer - Mr Stoyan Radev Ialamov
Announcement Reference
SG250321OTHRNEE7
Submitted By (Co./ Ind. Name)
Wong Siew Cheong
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Please refer to the information below.

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Ms Lee Khai Yinn (Tel: (65) 6232 3210) at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542.

Additional Details

Name Of Person
Stoyan Radev Ialamov
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
04/04/2025
Detailed Reason (s) for cessation
To pursue other personal interests and career opportunities.

Mr Stoyan Radev Ialamov tendered his resignation on 3 March 2025. Subsequent to discussions between Mr Wong Siew Cheong, the Company's Executive Director and Chief Executive Officer ("Mr Bill Wong") and Mr Stoyan Radev Ialamov, the resignation was accepted with early cessation date being 4 April 2025 as agreed by mutual consent.

Mr Bill Wong will cover the duties of Chief Operating Officer in the interim with support from operations and relevant teams until the Group is in a position to hire a suitable and equivalent candidate.

The Sponsor, after having interviewed Mr Stoyan Radev Ialamov, is satisfied that save as disclosed in this announcement, there is no other reason for the resignation of Mr Stoyan Radev Ialamov as Chief Operating 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
27/06/2022
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Operating Officer and Deputy Chief Executive Officer
Role and responsibilities
Mr Stoyan Radev Ialamov is responsible for the day-to-day operations of the Group and for assisting the Chief Executive Officer in setting and driving organisational vision, business growth, operational strategy and resource levels.
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?
No
Past (for the last 5 years)
International Marine Services
Present
Atlantic Maritime Group FZE*

*He will be stepping down from this appointment along his position as Chief Operating Officer and Deputy Chief Executive Officer at the Company.