MGN · Maritime Global Network
Home Directory Ports Bunkers News Events Careers OTII Market Reports Advertise

News Release

March 9, 2012

Back to News

Goldenport Holdings Board Changes

News Release Goldenport Holdings, Inc. March 9, 2012
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE></TITLE>
<META content="text/html; charset=unicode" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.19190"></HEAD>
<BODY>
<DIV>
<P class=f><SPAN class=bq>Goldenport Holdings Inc.</SPAN></P>
<P class=f><SPAN class=bq>Athens, </SPAN><SPAN class=bq>9 March 2012</SPAN></P>
<P class=bs><SPAN class=bq></SPAN>&nbsp;</P>
<P class=bs><SPAN class=bn>Board Changes</SPAN></P>
<P class=f><SPAN class=bq></SPAN>&nbsp;</P>
<P class=bt><SPAN class=bm>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.</SPAN></P>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bt><SPAN class=bm>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. </SPAN></P>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bt><SPAN class=bm>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.</SPAN></P>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bt><SPAN class=bm>Mr. Konstantinos </SPAN><SPAN
class=bm>Kabanaros</SPAN><SPAN class=bm><SPAN>will act as the Company's Interim
CFO. &nbsp;&nbsp;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.</SPAN></SPAN></P>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bt><SPAN class=bm>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.</SPAN></P>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bu><SPAN class=bq>Mr. Chris Walton, Chairman of the Company,
stated:</SPAN></P>
<P class=bu><SPAN class=bq></SPAN>&nbsp;</P>
<P class=bv><SPAN class=bm>"I would like to thank Captain Logothetis for his
contribution to the Board and for his willingness to share his vast maritime
knowledge.&nbsp; </SPAN></P>
<P class=bv><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bv><SPAN class=bm>I would also like to thank Mr. Christos Varsos for
his commitment to the growth of the Company for the last six years." </SPAN></P>
<P class=bu><SPAN class=bq></SPAN>&nbsp;</P>
<P class=bu><SPAN class=bn>Captain Paris Dragnis, Founder and Chief Executive
Officer of the Company commented on the board changes: </SPAN></P>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bt><SPAN class=bm>"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.</SPAN></P>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P>
<P class=bt><SPAN class=bm>I would also like to thank Captain Logothetis on for
his advice and support and to wish him well for the future."</SPAN></P>
<P class=bu><SPAN class=bq></SPAN>&nbsp;</P>
<P class=bu><SPAN class=bq>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. </SPAN></P>
<P class=bu><SPAN class=bq></SPAN>&nbsp;</P>
<P class=bu><SPAN class=bq></SPAN>&nbsp;</P>
<P class=bu><SPAN class=bq></SPAN>&nbsp;</P><SPAN class=bg><BR class=bh><BR
class=bh></SPAN>
<P class=bu><SPAN></SPAN>&nbsp;</P>
<TABLE style="WIDTH: 577px" class=bw cellSpacing=0 cellPadding=0>
<TBODY>
<TR class=ba>
<TD style="WIDTH: 275px" class=be vAlign=bottom colSpan=2>
<P class=bx><SPAN class=bm>Composition of Board Committees:</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=at>
<TD style="WIDTH: 179px" class=ay vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=aw vAlign=bottom>
<P class=by><SPAN class=bm>Audit Committee</SPAN></P></TD>
<TD style="WIDTH: 82px" class=aw vAlign=bottom>
<P class=by><SPAN class=bm>Nomination Committee</SPAN></P></TD>
<TD style="WIDTH: 94px" class=av vAlign=bottom>
<P class=by><SPAN class=bm>Remuneration Committee</SPAN></P></TD>
<TD style="WIDTH: 70px" class=au vAlign=bottom>
<P class=by><SPAN class=bm>Disclosure Committee</SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bx><SPAN class=bm>Non Executive Directors</SPAN></P></TD>
<TD style="WIDTH: 82px" class=as vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=as vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=ar vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=aq vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=al>
<TD style="WIDTH: 179px" class=ap vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=ao vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=ao vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=an vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=am vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bz><SPAN class=bm>Mr. Chris Walton</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=by><SPAN class=bm>Member</SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bz><SPAN class=bm>Mr. Robert Crawley</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm>Chairman</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm>Member</SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=by><SPAN class=bm>Member</SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bz><SPAN class=bm>Mr. Barry Martin</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm>Member</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm>Chairman</SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=by><SPAN class=bm>Chairman</SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bx><SPAN class=bm>Executive Directors</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=al>
<TD style="WIDTH: 179px" class=ap vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=ao vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=ao vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=an vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=am vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bz><SPAN class=bm>Captain Paris Dragnis</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=by><SPAN class=bm>Member</SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=by><SPAN class=bm>Chairman</SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bz><SPAN class=bm>John Dragnis</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=by><SPAN class=bm>Member</SPAN></P></TD></TR>
<TR class=ba>
<TD style="WIDTH: 179px" class=az vAlign=bottom>
<P class=bz><SPAN class=bm>Konstantinos Kabanaros</SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 82px" class=bd vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 94px" class=bc vAlign=bottom>
<P class=a><SPAN class=bm><BR></SPAN></P></TD>
<TD style="WIDTH: 70px" class=bb vAlign=bottom>
<P class=by><SPAN class=bm><BR></SPAN></P></TD></TR></TBODY></TABLE>
<P class=bt><SPAN class=bm></SPAN>&nbsp;</P></DIV></BODY></HTML>