GINV Global Invacom Group Limited

TIDMGINV

RNS Number : 0932J

Global Invacom Group Limited

18 December 2020

Global Invacom Group Limited

("Global Invacom", the "Company" or the "Group")

Directorate Change

Singapore/London, 18 December 2020 - Global Invacom (SGX: QS9) (AIM: GINV), the global provider of satellite communications equipment and electronics, wishes to announce that Matthew Jonathan Garner ("Matt"), Executive Director and Chief Financial Officer, has left his position as an employee of the Group to pursue other business interests with effect from 16 December 2020 where he has stepped down from the board of directors of the Company ("Board") at the same time.

The Board and the Audit and Risk Committee are of the view that the Group's joint Financial Controllers, Ms Wendy Isabel Wong Pei Fern, based in Singapore, and Mr Andrew Scott Martin, based in the United Kingdom, are able and competent to jointly assume overall responsibility for the Group's finance function into the foreseeable future. The Board has no current intention to appoint a new Chief Financial Officer, but it will continue to monitor the situation.

Currently, Ms Wendy Isabel Wong Pei Fern is the Group Financial Controller of the Company and is responsible for the overall financial, accounting, tax, treasury, corporate finance and compliance matters of the Group and has been with the Company since 2007.

She is a director of Global Invacom Manufacturing Pte Ltd, a wholly-owned subsidiary in Singapore and other group subsidiaries. Ms Wong has been in the finance and accounting field for more than 24 years. She has held various management positions in multinational and listed companies in the information technology, computer and telecommunications industries. She holds a Bachelor's degree in Accountancy from Nanyang Technological University, Singapore. She was admitted as a member of the Institute of Singapore Chartered Accountants ("ISCA") in 1998 and has been a Chartered Accountant since 2001.

At the same time, Mr Andrew Scott Martin is the Financial Controller of Global Invacom Limited and is responsible for the overall financial management of the Company's operations in United Kingdom, Israel and the United States.

Mr Martin has extensive manufacturing experience and has spent 18 years working for a United States manufacturer in the military and aerospace sectors listed on the New York Stock Exchange, the last 10 years of which he was the Financial Accounting Manager at its main United Kingdom operation before he joined the Company in January 2015. Mr Martin holds a Diploma in Accounting from the Association of Accounting Technicians.

Tony Taylor, Executive Chairman of Global Invacom commented:

"Firstly, let me thank Matt for his contribution to Global Invacom over the last seven years. On behalf of everyone here, we wish Matt and his family well for the future and his future endeavours.

Secondly, we are both delighted and fortunate to be able to call on both Wendy and Andrew to jointly oversee our finance functions globally."

For further information, please contact:

 
 Global Invacom Group Limited              www.globalinvacom.com 
 Tony Taylor, Executive Chairman         via Vigo Communications 
 
 Strand Hanson Limited (Nominated         www.strandhanson.co.uk 
  Adviser and Broker) 
 James Harris / Jack Botros                Tel: +44 20 7409 3494 
 
 Vigo Communications (Media & Investor         www.vigocomms.com 
  Relations) 
 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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December 18, 2020 02:00 ET (07:00 GMT)

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