Announcements
Change - Announcement Of Appointment Of Chief Executive Officer
May 30, 2017
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | May 30, 2017 17:06 |
| Status | New |
| Announcement Sub Title | APPOINTMENT OF CHIEF EXECUTIVE OFFICER |
| Announcement Reference | SG170530OTHR44LN |
| Submitted By (Co./ Ind. Name) | Phua Cher Chuan |
| Designation | Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Chief Executive Officer. This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "Exchange"). The Sponsor has not independently verified the contents of this announcement. 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 Ong Hwee Li (telephone no.: (65) 6532 3829) at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542. SAC Capital Private Limited is the parent company of SAC Advisors Private Limited. |
| Additional Details | |
| Date Of Appointment | 30/05/2017 |
| Name Of Person | Qian Zimin |
| Age | 55 |
| 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 recommended the appointment of Mr Qian Zimin ("Mr Qian") as Chief Executive Officer and the Board has approved his appointment based on his qualifications and work experience. |
| Whether appointment is executive, and if so, the area of responsibility | Executive, responsible for the overall management of the Group's business and corporate development. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Executive Officer |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr Qian is the cousin of Mr Qian Zhongcheng, who is the director of Yinda Pte. Ltd., a wholly-owned subsidiary of Shanghai Yinda Science and Technology Industrial Co Ltd ("Shanghai Yinda"). Mr Qian Zhongcheng is also a director and 20% shareholder of Shanghai Yinda. Yinda Pte. Ltd. will be making a mandatory unconditional cash offer for all the ordinary shares in the capital of the Company, other than those already owned, controlled or agreed to be acquired by it and parties acting or deemed to be acting in concert with it. Please refer to the Company's announcement of 7 May 2017 for further details. |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | 2016 to date - Managing Director of Yinda Pte. Ltd. 2008 to 2017 - CEO of Nanyangpost.com LLP 2002 to 2007 - Editor of MediaCorp 2000 to 2001 - Vice President of Netmegastore.com |
| 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) | Nanyangpost.com LLP |
| Present | Yinda 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? | No |
| If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company | The Company will arrange for Mr Qian to attend relevant training to familiarise himself with the roles and responsibilities of a director of a Singapore listed company. |