Change - Announcement of Cessation::Cessation of Executive Diretor, Mermaid Drilling

Issuer & Securities

Issuer/ Manager
MERMAID MARITIME PUBLIC CO LTD
Securities
MERMAID MARITIME PUBLIC CO LTD - TH0955010002 - DU4

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
10-May-2014 22:28:01
Status
New
Announcement Sub Title
Cessation of Executive Diretor, Mermaid Drilling
Announcement Reference
SG140510OTHRB4VR
Submitted By (Co./ Ind. Name)
Ms. Rujiraporn Hengtrakool
Designation
Assistant Manager, Legal & Corporate Affairs Dept.
Description (Please provide a detailed description of the event in the box below)
Please see below.

Additional Details

Name Of Person
Mr. Stephen Gregor Lenz
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
09/05/2014
Detailed Reason (s) for cessation
Resignation due to serious health condition.
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?
Yes
If Yes, Please provide full details
The Company would like to record its appreciation to Mr. Lenz, who has been served as the Executive Director of the Company's offshore tender rig business during 2008 - 2011 and from 2012 till present. We thank him for his contributions and insights and wish him well.
Date of Appointment to current position
02/05/2012
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
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director, Mermaid Drilling
Role and responsibilities
Mr. Lenz was responsible to manage and provide leadership to the offshore tender rig business of the Company.
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
40,179 shares in the Company as at 5 February 2014.
Past (for the last 5 years)
Kencana Mermaid Drilling Sdn. Bhd., Mermaid Kencana Rig 1 Pte. Ltd., Mermaid Kencana Rigs (Labuan) Pte. Ltd., Asia Offshore Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited, Asia Offshore Rig 3 Limited, Asia Offshore Drilling Pte. Ltd.
Present
Mermaid Drilling Limited, MTR-1 Limited, MTR-2 Limited, Mermaid Drilling (Malaysia) Sdn. Bhd., Mermaid Drilling (Singapore) Pte. Ltd., MTR-1 (Singapore) Pte. Ltd., MTR-2 (Singapore) Pte. Ltd., MTR-3 (Singapore) Pte. Ltd., Atwell Oilfield Solutions Pty. Ltd.