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Change - Announcement Of Appointment Of Independent Non-Executive Director And Chairman
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jan 23, 2020 18:13 |
| Status | New |
| Announcement Sub Title | INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHAIRMAN |
| Announcement Reference | SG200123OTHRK4PS |
| Submitted By (Co./ Ind. Name) | CHIN MEI YANG |
| Designation | CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR |
| Description (Please provide a detailed description of the event in the box below) | This announcement is made to replace the announcement released on 30 December 2019 (Announcement Reference: SG191230OTHRCYSR) to include Trans-Cab Holdings Ltd. under present directorship. This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Mr David Yeong (Telephone: 65-6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542. |
| Additional Details | |
| Date Of Appointment | 31/12/2019 |
| Name Of Person | Lim Teck Chai, Danny |
| Age | 46 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Nominating Committee has reviewed the experience and qualifications of Mr Lim Teck Chai, Danny ("Mr. Lim") and is satisfied that Mr. Lim possess the requisite competencies to assume the position as Independent, Non-Executive Director and Chairman of the Board. The Board of Directors have approved the appointment of Mr. Lim upon recommendation of the Nominating Committee. The Board considers Mr. Lim to be independent for the purpose of Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Non-Executive Director and Chairman, member of Audit Committee, Remuneration Committee and Nominating Committee |
| Professional qualifications | Bachelor of Law (Honours) degree from the National University of Singapore Master of Science (Applied Finance) degree from the Nanyang Technological University |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | No |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years | December 2009 to Present: Rajah & Tann Singapore LLP, Partner |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | Yes |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr. Lim holds 642,500 shares representing 0.26% of the share capital of the issuer that is held through iFast Financial Pte. Ltd. |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | Tee Land Limited China Star Food Group Limited Deskera Holdings Ltd. Sincap Group Limited |
| Present | Kimly Limited Stamford Land Corporation Limited Choo Chiang Holdings Ltd UG Healthcare Corporation Limited Trans-Cab Holdings Ltd. Other principal commitments Domestic Employees Welfare Fund - Appointed as trustee since 23 September 2018 |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | Yes |
| If Yes, Please provide full details | Mr. Lim is an independent director of Kimly Limited, which had on 29 November 2018 announced that it was subject to investigations in relation to a possible offence under the Securities and Futures Act (Cap. 289 of Singapore) by the Commercial Affairs Department and Monetary Authority of Singapore. Mr. Lim was interviewed by the Commercial Affairs Department in connection with the ongoing investigations. Mr. Lim is not personally the subject of such investigation. |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | Yes |
| If Yes, Please provide full details | Please see paragraph (j)(i) above. |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of an issuer listed on the Exchange? | Yes |
| If Yes, Please provide details of prior experience | Mr. Lim is currently an independent director of UG Healthcare Corporation Limited, Stamford Land Corporation Ltd, Kimly Limited, Choo Chiang Holdings Ltd. and Trans-Cab Holdings Ltd. |