4 Oct 2010 07:00
Goldenport Holdings Inc.
Athens, 4 October 2010
Board Changes
Goldenport Holdings Inc. ("Goldenport" or "the Company"), (LSE: GPRT) the international shipping company that owns and operates a fleet of container and dry bulk vessels, is pleased to announce the strengthening of its Board through the appointment of Mr. Barry Martin as an independent Non-Executive Director and Mr. John Dragnis as an Executive Director with effect from today.
Mr. Barry Martin is a banker with over 43 years of experience, of which more than 40 years he has been with the RBS Group where he has worked in, managed and led a variety of businesses. Barry started his banking career in 1965 and joined RBS in 1968. He trained in many aspects of banking including credit functions and corporate finance in his early career. Between 1974 and 1994 he held senior managerial appointments in the RBS Group in London financing major corporate clients. During the period between 1986 and 1994 he was also appointed General Manager of RBS AG in Zurich. In 1994 Barry was appointed General Manager of the Piraeus office in Greece providing finance and banking services to the Greek shipping community. In 1998 he moved to the position of Head of Greek Shipping based in London. Barry retired from RBS in April 2009 and is now working as a consultant.
Mr. John Dragnis is the Commercial Director of the Company since the Company's Admission to the Official List and to trading on the London Stock Exchange. His appointment to the Board reflects the importance of his current role and his leadership potential.
During the last four years since the Company's IPO, John has spent considerable amount of his time developing the business and identifying opportunities for fleet expansion through the acquisition of new building or second hand vessels. During the last seven years John has maintained existing relationships and established new ones with Charterers and ship-yards, especially in the Far East. Prior to the IPO, John was also involved in setting up and managing a yachting management and chartering business. He holds a degree in Business Administration and a Masters degree in Shipping, Trade and Finance from CASS Business School, London.
Mr. Chris Walton, Non-executive Chairman of Goldenport, commented on the appointments: "We welcome Barry Martin and John Dragnis to the Board. We believe that Barry's extensive shipping finance expertise, coupled with the business development capabilities of John will add value to our well-balanced Board as we grow into a larger company."
In accordance with the Company's By-laws, the two Directors will retire and offer themselves for election at the next Annual General Meeting. Both of the above changes affect the composition of the different committees of the Board of Directors. The Company reviewed the composition of the Committees and has decided to implement the following changes with immediate effect, in order to maintain the highest Corporate Governance standards:
| Composition of Board and Committees: |
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| Audit Committee | Nomination Committee | Remuneration Committee | Disclosure Committee | |
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| All members are independent non-executive directors | A majority of members are independent non-executive directors | All members are independent non-executive directors |
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| Non Executive Directors |
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| Mr. Chris Walton |
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| Mr. Robert Crawley | Chairman | Member | Member |
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| Captain Epameinondas Logothetis | Member | Chairman | Member |
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| Mr. Barry Martin | Member |
| Chairman |
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| Executive Directors |
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| Captain Paris Dragnis |
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| Chairman | |
| Mr. Christos Varsos |
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| Mr. Konstantinos Kabanaros |
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| Mr. John Dragnis |
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| Member | |
Aside from the information set out in the announcement above, there are no details to be disclosed in connection with Rule 9.6.13 (1)-(6) of the Listing Rules of the UK Listing Authority in relation to these appointments.
- ENDS -
For further information, please contact
Goldenport Holdings Inc.:
Chris Walton, Non Executive Chairman +30 694 9471352
Christos Varsos, Chief Financial Officer +30 210 8910500
Investor Relations Coordinators:
Capital link:
Annie Evangeli - London +44 203 206 1320
Nicolas Bornozis - New York +1 212 661 7566
E-mail: goldenport@capitallink.com
info@goldenport.biz
Further Information:
Overview of Goldenport
Goldenport is an international shipping company that owns and operates a fleet of twenty-five container and dry bulk vessels that transport cargo worldwide. The fleet consists of eleven container vessels (including one new-build vessel with delivery scheduled for 2011) and fourteen dry bulk carriers (including six new-build vessels with deliveries scheduled for 2010 and 2011). Goldenport is listed on the London Stock Exchange under the ticker GPRT.
Website: www.goldenportholdings.com or www.goldenport.biz