– UK, Kent – Global Invacom Group Limited (SGX: QS9 | LON: GINV), the global provider of satellite communications equipment and electronics, announces the appointment of Wayne Porritt to its board of directors as an Independent Director, with immediate effect.
Mr Porritt has been appointed Chairman of the Remuneration Committee and will act as a member of the Audit and Risk, and Nominating Committees.
About Wayne Porritt
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 was appointed as an independent non-executive director of Noble Group Limited, 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 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.
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: https://www.globalinvacom.com/
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