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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jan 31, 2017 18:47 |
| Status | New |
| Announcement Sub Title | RE-DESIGNATION OF LEAD INDEPENDENT DIRECTOR TO INDEPENDENT CHAIRMAN |
| Announcement Reference | SG170131OTHRHEBZ |
| Submitted By (Co./ Ind. Name) | Ang Kiam Meng |
| Designation | Executive Director and Group CEO |
| Description (Please provide a detailed description of the event in the box below) | This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, United Overseas Bank Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement. 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 Mr. Chia Beng Kwan, Senior Director, Equity Capital Markets, who can be contacted at 80 Raffles Place, #03-03 UOB Plaza 1, Singapore 048624, telephone: +65 6533 9898. |
| Additional Details | |
| Date Of Appointment | 01/02/2017 |
| Name Of Person | TAN CHER LIANG |
| Age | 64 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | In order to focus on the Group's next stage of growth, Mr. Ang Kiam Meng ("Mr. Ang") will relinquish his appointment as Executive Chairman and will be re-designated from Executive Chairman and CEO to Executive Director and Group CEO. Consequent to Mr. Ang's re-designation, Mr. Tan Cher Liang ("Mr. Tan") will be re-designated from Lead Independent Director to Independent Chairman. The nominating committee ("NC") has assessed Mr. Tan's qualifications and experience. Upon the recommendations by the NC, the board of directors ("Board") of the Company is of the view that the re-designation of Mr. Tan will be beneficial to the Board and to the Company. |
| Whether appointment is executive, and if so, the area of responsibility | No |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Chairman |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | (1) May 2000 to March 2013: Managing/ Finance Director of Boardroom Limited (2) March 2013 to present: Advisor to Boardroom Limited |
| 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) | - Aspire CS Pte. Ltd. (formerly known as Chorpee Corporate Services Pte Ltd) - ATL Limited - Boardroom Business Solutions Pte. Ltd. - Boardroom China Holdings Pte. Ltd. - Boardroom Communications Pte. Ltd. - Boardroom Communications Sdn Bhd - Boardroom Corporate & Advisory Services Pte. Ltd. - Boardroom Corporate Services (HK) Limited - Boardroom Corporate Services (Johor) Sdn Bhd - Boardroom Corporate Services (KL) Sdn Bhd - Boardroom Corporate Services (Penang) Sdn Bhd - Boardroom CS Services (KL) Sdn Bhd - Boardroom Holdings Australia Pty Ltd - Boardroom Limited - Boardroom Malaysia Sdn Bhd - Boardroom Nominees (Tempatan) Sdn Bhd - NewReg Pty Ltd |
| Present | - Children's Charities Association - Deli Sumatra Legacy Co Pte. Ltd. - DS Lee Foundation - DS Lee Specialists Group Pte. Ltd. - DS Lee Singapore General Pte. Ltd. - DSLSG Investment Co. Pte. Ltd. - Etonhouse Community Fund Limited - Kingsmen Creatives Ltd. - Tengis Services Pte. Ltd. (In Voluntary Liquidation) - The Nyalas Rubber Estates Limited - Kwan Im Thong Hood Cho Temple - Vibrant Group Limited - Wilton Resources Corporation Limited - Ezra Holdings Limited |
| (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 | 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 a listed company? | Yes |
| If Yes, Please provide details of prior experience | Ezra Holdings Limited Kingsmen Creatives Ltd. Vibrant Group Limited Wilton Resources Corporation Limited |