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 Partnerships
Past Directorships and/or Partnerships (last five years)
Floatel International Limited
Noble Group Limited
Skylight Financial Solutions Pty Limited
Quantrex Capital 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 and Broker)
www.strandhanson.co.uk
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
BOAUPGPUUUPUGCB
