Directorate Change

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: [phone] Tel: [phone]
Strand Hanson Limited (Nominated Adviser and Broker)	www.strandhanson.co.uk
James Harris / Richard Tulloch / Jack Botros	Tel: [phone]
Vigo Communications (Media & Investor Relations)	www.vigocomms.com
Jeremy Garcia / Charlie Neish	Tel: [phone]
[e-mail]

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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