Share Name Share Symbol Market Type Share ISIN Share Description
Global Invacom Group Limited LSE:GINV London Ordinary Share SG2E91982768 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 6.00 5.00 7.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 101.4 -9.5 0.0 - 15

Global Invacom Group Limited Directorate Change

09/10/2020 3:15pm

UK Regulatory (RNS & others)

Global Invacom (LSE:GINV)
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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) 
 Immobilari Pty Limited          Standard Chartered Bank Korea Limited 
 Consigliere Australia Pty 

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 
 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              
 Matthew Garner, Chief Financial Officer            Tel: +65 6431 0782 
                                                     Tel: +44 20 3053 
 Strand Hanson Limited (Nominated Adviser  
  and Broker) 
 James Harris / Richard Tulloch / Jack Botros       Tel: +44 20 7409 
 Vigo Communications (Media & Investor Relations) 
 Jeremy Garcia / Charlie Neish                      Tel: +44 20 7390 

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 .

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(END) Dow Jones Newswires

October 09, 2020 10:15 ET (14:15 GMT)

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