Announcement Of Cessation As Operations Director, Mermaid Offshore Services Ltd.
20 October 2011
|Name Of Person||Mr. Simon Matthew Turner|
|Is Effective Date Of Cessation Known?||Yes|
|Effective Date Of Cessation||31/10/2011|
|Detailed Reason(s) for Cessation||To pursue personal interests.|
|Is there any difference of opinion on material matters between the person and the Board of directors?||No|
|If yes, please elaborate||NA|
|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|
|If yes, please elaborate||NA|
|Any other relevant information to be provided to shareholders of the listed issuer?||Yes|
|If yes, please elaborate||During his close to 20 year tenure with the Company, Mr. Simon Matthew Turner performed various roles in implementing strategies contributing to the growth of the subsea engineering services business of the Company. Mr. Turner was an integral member of the original team which developed the subsea engineering services business from a domestic air diving company to an international oil and gas service provider of subsea inspection, repair and maintenance services, light infrastructure construction services, emergency repair and call out services, deepwater ROV support and salvage, and in turn overseeing the expansion of the Company's fleet to its present of eight subsea vessels. Mr. Turner became Operations Director in December 2010, after serving previously in roles as the Commercial Director and General Manager during his tenure with the Company from 1993 to 2010. Mr. Turner will provide assistance during a transitional period to the Company for the remainder of 2011. The Company would like to thank Mr. Turner for his contributions and wish him all the success in his future endeavors.|
|Date of Appointment to current position||17/12/2010|
|Job Title||Operations Director, Mermaid Offshore Services Ltd.|
|Role and Responsibilities||Responsible to manage and oversee the day-to-day operations of the subsea engineering services business of the Company.|
|Does the AC have a minimum of 3 members (taking into account this resignation)?||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) over the past 12 months||Eleven (11) inclusive of this announcement.|
|Shareholding in the listed issuer and its subsidiaries||None.|
|Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries||None.|
|Past Directorship (for the last five years)||NA|
|Present Directorship||Mr. Turner is presently a director of the following subsidiaries of the Company:
- Seascape Surveys Pte. Ltd.
- PT Seascape Indonesia
- Mermaid Offshore Services Ltd.
- Mermaid Training and Technical Services Ltd.
- Seascape Surveys (Thailand) Ltd.
- Subtech Ltd. (Seychelles)
- Subtech Saudi Arabia Ltd.
- Mermaid Offshore Services Pty. Ltd.
- Mermaid Offshore Services Pte. Ltd.
Prior to or upon his cessation, Mr. Turner will resign from his directorship of these subsidiaries.