TIDMGINV
RNS Number : 6866B
Global Invacom Group Limited
09 October 2020
9th October 2020
Global Invacom Group Limited
("Global Invacom", the "Company" or the "Group")
Directorate Change
Global Invacom (SGX: QS9) (AIM: GINV), the global provider of
satellite communications equipment and electronics, announces that,
further to the Company's announcement of 24 September 2020, Wayne
Robert Porritt has been appointed to the board of directors of the
Company (the "Board") as an Independent Director, with immediate
effect.
Mr Porritt holds various directorship and advisory roles in
corporate and non-profit organisations. He previously worked for
Standard Chartered Bank (Hong Kong) Limited as Regional Chief Risk
Officer and as a non-executive director of Standard Chartered
Bank's South Korea and Taiwan subsidiaries. Mr Porritt has
extensive risk and restructuring experience, following over 20
years at Bank of America and Standard Chartered Bank. His banking
and finance career commenced in Australia where he previously
worked in the credit and insolvency divisions of Société Générale
and Ernst & Young.
Mr Porritt has been appointed Chairman of the Remuneration
Committee and will act as a member of the Audit and Risk, and
Nominating Committees. The Board considers Mr Porritt to be
independent for the purpose of Rule 704(8) of the SGX-ST Listing
Manual.
Additional Information on Wayne Porritt
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies.
Wayne Robert Porritt (aged 52)
Current Directorships and/or Past Directorships and/or Partnerships
Partnerships (last five years)
Floatel International Limited Noble Group Limited
Skylight Financial Solutions Quantrex Capital Pty Limited
Pty Limited
Oxfam Hong Kong Standard Chartered Bank (Taiwan)
Limited
Immobilari Pty Limited Standard Chartered Bank Korea Limited
Consigliere Australia Pty
Limited
Mr Porritt does not currently hold any shares in the
Company.
Mr Porritt was appointed as an independent non-executive
director of Noble Group Limited ("Noble"), in March 2018, to assist
Noble on its corporate and financial restructuring. Noble
announced, on 20 December 2018, that the restructuring had
completed, in conjunction with Mr Porritt's resignation. As part of
the restructuring, and in accordance with the terms of schemes of
arrangement, under both Bermudan and English laws, which had been
approved by Noble's shareholders, Noble entered into liquidation
proceedings in December 2018 and was wound up on 8 February
2019.
Mr Porritt was appointed as a director of Quantrex Capital Pty
Limited ("Quantrex") to assist in the restructuring of Quantrex in
January 2018. Following the sale of Quantrex's parent to a new
investor, Mr Porritt resigned as a director in April 2018. Quantrex
was subsequently wound up following the appointment of a liquidator
in July 2018. At the time such proceedings were initiated, there
was an estimated A$1.2 million creditor shortfall.
Save as set out above there are no further disclosures pursuant
to Rule 17 or Schedule Two paragraph (g) of the AIM Rules for
Companies in respect of the appointment of Wayne Porritt.
Following Mr Porritt's appointment, the Board and its Committees
are comprised as below:
Board of Directors
Anthony Brian Taylor Executive Chairman
Malcolm John Burrell Executive Director
Matthew Jonathan Garner Executive Director
John Lim Yew Kong Lead Independent Director
Cosimo Borrelli Independent Director
Wayne Robert Porritt Independent Director
Kenny Sim Mong Keang Non-Independent Non-Executive
Director
Audit and Risk Committee
John Lim Yew Kong Chairman
Cosimo Borrelli Member
Wayne Robert Porritt Member
Nominating Committee
Cosimo Borrelli Chairman
John Lim Yew Kong Member
Wayne Robert Porritt Member
Remuneration Committee
Wayne Robert Porritt Chairman
Cosimo Borrelli Member
John Lim Yew Kong Member
For further information, please contact:
Global Invacom Group Limited www.globalinvacom.com
Matthew Garner, Chief Financial Officer Tel: +65 6431 0782
Tel: +44 20 3053
3523
Strand Hanson Limited (Nominated Adviser www.strandhanson.co.uk
and Broker)
James Harris / Richard Tulloch / Jack Botros Tel: +44 20 7409
3494
Vigo Communications (Media & Investor Relations) www.vigocomms.com
Jeremy Garcia / Charlie Neish Tel: +44 20 7390
0238
ginv@vigocomms.com
About Global Invacom Group Limited
Global Invacom is a fully integrated satellite equipment
provider with sites across China, Singapore, Indonesia,
Philippines, Malaysia, Israel, UK and the US. Its customers include
satellite broadcasters such as BSkyB of the UK and Dish Network of
the USA and Data over Satellite providers including Hughes Network
Systems, Viasat and Gilat Satellite Networks.
Global Invacom provides a full range of satellite ground
equipment including antennas, LNB receivers, transceivers, fibre
distribution equipment, transmitters, switches and video
distribution components, as well as manufacturing services in the
military and medical industries. The Group is the world's only
full--service outdoor unit supplier.
Global Invacom is listed on the Mainboard of the Singapore
Exchange Securities Trading Limited and its shares are admitted to
trading on the AIM Market of the London Stock Exchange.
For more information, please refer to www.globalinvacom.com
.
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END
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