- Established in 1974
- Singapore - Korea - China - Malaysia - Vietnam
United Arab Emirates - Azerbaijan - United Kingdom
News| 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 |