Thursday, 23 April 2015

Icon Offshore: CEO and COO remanded (2)

Some more information on this matter due to a query from Bursa:

1) The financial and operational impact of the Remand

We do not expect the Remand to have any financial or operational impact to the group as our Deputy Chief Executive Officer, Captain Hassan bin Ali (“Captain Hassan”) continues to be responsible for the day-to-day management of our Company as well as the co-ordination of the administrative and business activities of our group.

2) The steps taken and to be taken to ensure that the operations/business of the Company/group is not adversely affected while the CEO and COO are being remanded

In the absence of the Chief Executive Officer, Captain Hassan, as the Deputy CEO ("Deputy CEO")   has assumed the functions of the CEO with effect from 22 April 2015, in addition to his existing responsibilities. In light of the development, our Company has engaged our stakeholders, namely our customers and lenders to appraise them of the matter and at the same time, provide assurance to our stakeholders that it is business as usual for our group under the stewardship of our Deputy CEO. 

3) Duration of the Remand

We have been informed by the legal counsel representing the CEO and COO that the Remand is for a duration of three (3) days until 24 April 2015.

Unfortunately still no information what it is all about, we need to wait for that.

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