Mermaid Makes Organizational Changes Due to Rebranding

Mermaid's Subsea Vessel

Mermaid Maritime Public Company Limited announces an update on the reorganization of subsea business.

Mermaid’s Subsea Vessel

In line with the rebranding of the Company and the integration all subsea subsidiaries to work under one unified management led by Mr. Paul Whiley, the subsea organization will be geographically separated into two markets of Western and Eastern Hemisphere.

Mr. Neil Howie is the Group Regional Director of the Western Hemisphere. He will be responsible for the footprints of Saudi Arabia, Qatar, United Arab Emirates, Nigeria, Libya, and the North Sea. The Eastern Hemisphere, headed by Mr. Peter Reichlmeier as the Group Regional Director shall be responsible for the footprints of Australia, China, Indonesia, Malaysia, Singapore and Thailand.

The fleet of the vessels currently owned by Mermaid Offshore Services Co.,Ltd. (“MOS”), a 100% subsidiary of the Company, and managed by the Marine Department will report directly to Mr. Paul Whiley and Mr. Chia Wan Huat Joseph.

With this reorganization, our customers will be better served as each region’s footprints will come under the Regional Directors who are able to direct and allocate human resource and hard assets (Remotely Operating Vehicles (“ROV”), vessels, and Saturation Diving system) where they are most needed.

In addition to that, this structure promotes cross-selling of products and services resulting in improving utilization of the assets for better profitability of the Company.

Press Release, August 19, 2014

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