News
14 Jun 2019
Change - Announcement Of Appointment Of Non-Executive And Non-Independent Director
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Jun 14, 2019 19:48 |
| Status | New |
| Announcement Sub Title | Appointment of Non-Executive and Non-Independent Director |
| Announcement Reference | SG190614OTHR9OST |
| Submitted By (Co./ Ind. Name) | Toh Li Ping, Angela |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Non-Executive and Non-Independent Director |
| Additional Details | |
| Date Of Appointment | 14/06/2019 |
| Name Of Person | Tang Chi Chun ("Mr. Tang") |
| Age | 58 |
| Country Of Principal Residence | China |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Board having considered i) the recommendation of the Nominating Committee ("NC"); and ii) Mr. Tang's qualifications and experience, is of the view that Mr. Tang has the requisite experience and capabilities to assume the responsibilities as the Non-Executive and Non-Independent Director of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Appointment is non-executive. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive and Non-Independent Director |
| Professional qualifications | Certified Public Accountant |
| 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 | Mr. Tang is the Executive Director and the Chief Financial Officer of China Everbright Limited ("CEL"), the controlling shareholder of the Company. |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | Mr. Tang is an Executive Director and the Chief Financial Officer of CEL, which is a company listed on the Hong Kong Stock Exchange. He is also a Member of the Executive Committee of the Board and a Member of the Management Decision Committee of CEL. Mr. Tang is a Non-executive Director of China Aircraft Leasing Group Holdings Limited. He was a Director of Everbright Securities Company Limited from February 2008 to January 2011. Mr. Tang is a Certified Public Accountant and is a graduate of the Accountancy Department, Hong Kong Polytechnic (now known as Hong Kong Polytechnic University). He is a Member of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. He is also a Founding Member of Hong Kong Business Accountants Association. He has over 30 years of experience in audit, investment, accounting and finance. Since 1990, Mr. Tang had been engaged as head of the financial and operational functions of various international financial institutions. |
| 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 |
| Other Principal Commitments* Including Directorships# *"Principal Commitments" has the same meaning as defined in the Code # 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) | Principal Commitments and Directorships - please refer to the information in "Working experience and occupation(s) during the past 10 years" |
| Present | Principal Commitments and Directorships - i) China Everbright Limited ii) China Aircraft Leasing Group Holdings Limited iii) Please refer to the information in "Working experience and occupation(s) during the past 10 years" |
| (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 an issuer listed on the Exchange? | No |
| If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange | N/A |
| Please provide details of relevant experience and the nominating committee's reasons for not requiring the director to undergo training as prescribed by the Exchange (if applicable) | Although Mr. Tang does not have any prior experience as a director of an issuer listed on the Exchange ("Director of SGX-ST Listco"), the NC has considered and is of the view that based on his experience as set out below, he possesses the experience comparable to a Director of SGX-ST Listco: (i) He has been an Executive Director of CEL (stock code: 167.HK) since July 2007, and is also the Chief Financial Officer of CEL; (ii) He has been a Non-Executive Director of China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK) since August 2013; and (iii) He had served as a Director of Everbright Securities (stock code: 601788.SH) from February 2008 to January 2011. |