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Change - Announcement Of Cessation Of Mr Michael John Duncan As Managing Director Of Gaylin International Pte Ltd

BackAug 07, 2017
Announcement Title Change - Announcement of Cessation
Announcement Subtitle Cessation of Mr Michael John Duncan as Managing Director of Gaylin International Pte Ltd
Securities GAYLIN HOLDINGS LIMITED (GAYLIN)
Date & Time of Broadcast Aug 7, 2017 18:31
Submitted By Sharon Yeoh
Company Secretary
Description Cessation of Mr Michael John Duncan as Managing Director of Gaylin International Pte Ltd
Cessation Details
Name of person Michael John Duncan
Age 44
Is effective date of cessation known? Yes
Effective date for cessation Aug 7, 2017
Detailed reason(s) for cessation To strategise the Group's oil and gas business operations and to better serve the clients in the Europe region, the Board has decided that Mr Michael John Duncan ("Mr Duncan"), currently Managing Director of Gaylin International Pte Ltd, will focus on the operation of Rig Marine Holdings FZE ("Rigmarine").

Mr Steven Teo, CAO of the Company, will resume Mr Duncan's roles with the help of Mr Desmond Teo, CEO and the rest of the management team.
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 Sep 4, 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 this 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 3
Job Title Managing Director of Gaylin International Pte Ltd, a principal subsidiary of Gaylin Holdings Limited.
Role and responsibilities Mr Duncan's responsibilities at the Group include improvement of the overall infrastructure and corporate consistency, driving key functions in the areas of global sales and key contracts, as well as spearheading future growth programmes.
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries Nil
Shareholdings interest in the listed issuer and its subsidaries? Yes
Shareholding Details Direct - 3,529,412 ordinary shares
Other directorships
Past (for the last 5 years) Nil
Present Rigmarine Group of Companies
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