News
Change - Announcement Of Appointment Of Independent Non-Executive Director
BackMar 06, 2020
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Mar 6, 2020 18:58 |
| Status | New |
| Announcement Sub Title | Appointment of Independent Non-Executive Director |
| Announcement Reference | SG200306OTHRTHY2 |
| Submitted By (Co./ Ind. Name) | Sharon Yeoh |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Independent Non-Executive Director This announcement has been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor") in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules"). This announcement has not been examined or approved by 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 Ms Tan Cher Ting, Director, Investment Banking, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: +65 6337 5115. |
| Additional Details | |
| Date Of Appointment | 07/03/2020 |
| Name Of Person | Tan Soon Liang |
| Age | 47 |
| 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 ("NC") has reviewed the Board structure, as well as the background of Mr Tan Soon Liang ("Mr Tan") and is of the view that Mr Tan's experience, skill set and business network will bring valuable experience and expertise and diversity to the Board. With reference to Provision 2.1 and Practice Guidance 2 of the Code of Corporate Governance 2018 and based on Mr Tan's declaration, there are no relationships or circumstances which are likely to affect, or could appear to affect, Mr Tan's independence and judgement. Accordingly, the NC is satisfied that there is no relationship which would deem Mr Tan to be not independent and the Board considers Mr Tan independent for the purpose of Rule 704(7) of the Catalist Rules. The appointment of Mr Tan as Independent Non-Executive Director of the Company based on the NC's recommendation has been approved by the Board. |
| Whether appointment is executive, and if so, the area of responsibility | Independent Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Non-Executive Director Chairman of Nominating Committee Member of Audit Committee Member of Remuneration Committee |
| Professional qualifications | CFA Charterholder CFA Institute (United States of America) Master of Business Administration University of Hull (United Kingdom) Bachelor of Business (Honours) Nanyang Technological University (Singapore) |
| 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 | Nil |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | May 2009 - Present Managing Director Ti Ventures Pte. Ltd. December 2014 - Present Managing Director Omnibridge Capital Pte. Ltd. June 2010 - June 2015 Managing Director Ti Investment Holdings Pte Ltd May 2009 - May 2010 Advisor BDO Raffles Advisory Pte Ltd |
| 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? | No |
| # 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) | Please refer to attachment (Appendix 1) |
| Present | Please refer to attachment (Appendix 1) |
| (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? | Yes |
| If Yes, Please provide full details | Mr Tan was a non-executive director of T10 Lifestyle Concepts Pte Ltd ("T10") from April 2011 to November 2015, a company incorporated in Singapore. He was a non-executive nominee director on the board of directors of T10, representing the interests of Ti Investment Holdings Pte. Ltd., which had a 60% shareholding in T10. During the period of his directorship in T10, he was not involved in the daily business operations nor financial management of T10. On 12 November 2015, T10 was dissolved pursuant to a compulsory winding up application. |
| (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 | No |
| (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? | No |
| (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 Tan is currently an Independent Director of the following listed companies: 1. Choo Chiang Holdings Limited (SGX-ST) 2. Clearbridge Health Limited (SGX-ST) 3. ISDN Holdings Limited (SGX-ST and SEHK) |
Attachments
- Appendix 1 (Size: 418,196 bytes)