| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Aug 21, 2018 19:46 |
| Status | New |
| Announcement Sub Title | Re-designation of Non-Executive and Non-Independent Director to Independent Director |
| Announcement Reference | SG180821OTHR5JYO |
| Submitted By (Co./ Ind. Name) | Victor Lim |
| Designation | Executive Chairman, CEO and Group Managing Director |
| 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 ("Sponsor"), RHT Capital Pte Ltd, for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Company's Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made. This announcement has not been examined or approved by the Exchange and the Exchange 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. Khong Choun Mun Telephone number: +65 6381 675 |
| Additional Details | |
| Date Of Appointment | 21/08/2018 |
| Name Of Person | Lee Teck Meng Stanley |
| Age | 43 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The NC and the Board, having reviewed the independence of Mr Lee Teck Meng Stanley, are of the view that he is independent in character and judgement, for the purposes of Catalist Rule 704(7) and the Code of Corporate Governance, and there are no circumstances which would likely affect or appear to affect his judgement. His familial relationship, as a nephew of Mr Lim Kee Liew @ Victor Lim (the Group s Executive Chairman, Chief Executive Officer and Managing Director) and his spouse, Ms. Leong Lai Heng (a Controlling Shareholder and a Director of the subsidiaries of the Company) is not deemed as an immediate family member for the purposes of the Code of Corporate Governance. His familial relationship does not interfere, or be reasonably perceived to interfere, with the exercise of his independent business judgement with a view to the best interests of the company. |
| 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 Director and members of the Audit Committee, Remuneration Committee and Nominating Committee |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nephew to Mr Lim Kee Liew @ Victor Lim (the Group's Executive Chairman, Chief Executive Officer and Managing Director) and his spouse, Ms Leong Lai Heng (a Controlling Shareholder and a Director of the subsidiaries of the Company) |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | 2016 to Present: Deputy Director, Nanyang Technological University Singapore 2014 to 2016: Director, RHT Strategic Advisory Pte Ltd 2009 to 2014: Trading Representative, Maybank Kim Eng Securities Pte Ltd 2002 to 2009: Director, CargoTec 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? | Yes |
| Shareholding Details | Deemed Interest - 300,000 ordinary shares |
| # 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) | RHT Family Office Pte Ltd H-Hub Pte Ltd K2 Capital Group (Private) Limited Bakersfield Capital Private Limited CargoTec Pte Ltd Airtruck Services Pte Ltd RHT Strategic Advisory Pte Ltd Royal Oaks Capital Pte Ltd |
| Present | Nuove Superfici (S) Pte Ltd |
| (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 | Mr Lee Teck Meng Stanley is a Non-Executive and Non Independent Director of Asian Micro Holdings Limited |