News
14 Nov 2019
Change - Announcement Of Appointment Of Mr Zhang Mingao As Non-Executive And Non-Independent Chairman And A Member Of The Remuneration Committee
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Nov 14, 2019 17:45 |
| Status | New |
| Announcement Sub Title | Appointment of Mr Zhang Mingao as Non-Executive and Non-Independent Chairman and a member of the RC |
| Announcement Reference | SG191114OTHRNC0D |
| Submitted By (Co./ Ind. Name) | Hu Bing |
| Designation | Group Chief Executive Officer and Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Mr Zhang Mingao as Non-Executive and Non-Independent Chairman and a member of the Remuneration Committee ("RC"). |
| Additional Details | |
| Date Of Appointment | 14/11/2019 |
| Name Of Person | Zhang Mingao ("Mr Zhang") |
| Age | 52 |
| Country Of Principal Residence | Hong Kong |
| 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 Zhang's qualifications and experience, is of the view that Mr Zhang has the requisite experience and capabilities to assume the responsibilities of the Non-Executive and Non-Independent Chairman of the Company and a member of the RC. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive and Non-Independent Chairman and a member of the RC |
| Professional qualifications | Nil |
| 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 Zhang is an Executive Director and Chief Investment 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 | December 2017 to present: CEL - Executive Director and Chief Investment Officer August 1999 to December 2017 China Everbright Bank Company Limited - General Manager, Asset Management Department - President of Wuxi Branch - Risk Director of Headquarter's SME Department - Risk Director of Suzhou Branch |
| 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) | China Everbright Bank Company Limited |
| Present | CEL |
| (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 | Not applicable |
| 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 Zhang does not have any prior experience as a director of an issuer listed on the Exchange ("Director of SGX Listco"), the NC has conisdered and is of the view that based on his experience as set out below, he possesses the experience comparable to a Director of SGX-Listco:- (i) He has been an Executive Director of CEL (stock code: 165.HK) since December 2017; and (ii) He is also the Chief Investment Officer of CEL. From August 1999 to December 2017, he had also served the following roles in China Everbright Bank Company Limited (stock code: 601818.SH, 6818.HK): (1) General Manager, Asset Management Department (2) President of Wuxi Branch (3) Risk Director of Headquarter's SME Department (4) Risk Director of Suzhou Branch |