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9 Mar 2012 07:00
Goldenport Holdings Inc.
Athens, 9 March 2012
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 announces two changes to its Board of Directors.
Mr. Christos Varsos has informed the Company of his resignation from the position of Chief Financial Officer and Executive Director, effective April 6, in order to pursue other projects.
Mr. Varsos has been the CFO and a Director of the Company since November 2005 and guided the Company in the execution of its IPO in April 2006.
Mr. Konstantinos Kabanaros will act as the Company's Interim CFO. Mr. Kabanaros has in total thirty-two years of shipping experience, the last twenty-eight years with Goldenport. His major focus has been ship-financing and accounting and he is currently an Executive Director and the Company's Chief Accounting Officer. His interim mandate will be to maintain the strength of the Company's balance sheet, enrich the relationships with international debt providers, supporting the prudent renewal of our fleet and therefore enhancing long-term shareholder value.
Goldenport also wishes to announce that Captain Epameinondas Logothetis has informed the Company that he does not intend to stand for re-election as a Non-Executive Director in the coming AGM as he wishes to retire. Captain Logothetis has been on the Board since 1 November 2007 and has served on its audit, remuneration and nomination committees since that date.
Mr. Chris Walton, Chairman of the Company, stated:
"I would like to thank Captain Logothetis for his contribution to the Board and for his willingness to share his vast maritime knowledge.
I would also like to thank Mr. Christos Varsos for his commitment to the growth of the Company for the last six years."
Captain Paris Dragnis, Founder and Chief Executive Officer of the Company commented on the board changes:
"As Goldenport's CFO, Mr. Christos Varsos has contributed to our corporate transformation, by helping us to execute our IPO, building our finance team, and driving our efforts to fully comply with the regulatory demands of London Stock Exchange. I wish him the best as he takes on new challenges.
I would also like to thank Captain Logothetis on for his advice and support and to wish him well for the future."
Both of the above changes affect the composition of the different committees of the Board of directors. The Company has reviewed the composition of its Board Committees and has decided to implement the following changes with immediate effect, in order for them to remain fully compliant with the UK Corporate Governance Code.
Composition of Board Committees: | ||||
Audit Committee | Nomination Committee | Remuneration Committee | Disclosure Committee | |
Non Executive Directors | ||||
Mr. Chris Walton | Member | |||
Mr. Robert Crawley | Chairman | Member | Member | |
Mr. Barry Martin | Member | Chairman | Chairman | |
Executive Directors | ||||
Captain Paris Dragnis | Member | Chairman | ||
John Dragnis | Member | |||
Konstantinos Kabanaros | ||||
- ENDS -
Goldenport Holdings Inc.:
Chris Walton, Chairman +30 694 9471352
John Dragnis, Commercial Director +30 210 8910500
Investor Relations Coordinators:
Capital Link:
Eleni Theodoropoulou - 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-six container and dry bulk vessels that transport cargo worldwide. The fleet consists of twelve container vessels and fourteen dry bulk carriers. Goldenport is listed on the London Stock Exchange under the ticker GPRT.
Website: www.goldenportholdings.com or www.goldenport.biz
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