Change - Announcement of Appointment::Appointment of Chief Executive Officer

Issuer & Securities

Issuer/ Manager
THAKRAL CORPORATION LTD
Securities
THAKRAL CORPORATION LTD - SG1AJ2000005 - AWI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Jan-2016 20:16:03
Status
New
Announcement Sub Title
Appointment of Chief Executive Officer
Announcement Reference
SG160128OTHRX10G
Submitted By (Co./ Ind. Name)
Anil Daryanani
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr. Inderbethal Singh Thakral as Chief Executive Officer of the Group.

Additional Details

Date Of Appointment
01/02/2016
Name Of Person
Inderbethal Singh Thakral
Age
56
Country Of Principal Residence
China
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The appointment of Mr. Inderbethal Singh Thakral ("Mr. Bethal") as the Chief Executive Officer ("CEO") of the Group had been proposed by the Nomination Committee, with Mr. Kartar Singh Thakral ("Mr. Kartar") abstaining, to lead the Investment Division following the sudden demise of Mr. Jaginder Singh Pasricha, who held the position of Managing Director of the division. The Nomination Committee after reviewing Mr. Bethal's experience, involvement and familiarity in all aspects of the Group's businesses, had recommended to the Board his appointment as the Group's CEO. The Board of Directors, with Mr. Bethal and Mr. Kartar abstaining, has accepted the recommendation of the Nomination Committee and approved the appointment of Mr. Bethal as the Group's CEO.
Whether appointment is executive, and if so, the area of responsibility
Executive. Mr. Bethal will continue to be responsible for the Group's Lifestyle business as well as the Group's Investment Division. His additional responsibilities include heading the Investment Division, which will continue to concentrate on identifying new opportunities for real estate investments in Australia and Japan, and oversee the joint-venture recently formed to develop resort-style retirement villages for the elderly in Australia as well as build facilities that will provide residential, in-care community services for the elderly.
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
Son of Mr. Kartar Singh Thakral, Executive Director and Substantial Shareholder of the Company.
Conflict of interests (including any competing business)
Being a Thakral Family member, Mr. Bethal is deemed to be interested in all businesses of the Thakral Family Group of Companies of which some are in competing business with the Group's Lifestyle business. However, Mr. Bethal is not involved in the business operations of the Thakral Family Group of Companies. Where any conflict of interest may arise, Mr. Bethal shall abstain from all involvement of any such matters. Further, a general mandate is in place to govern the trading of consumer electronics and electrical products between the Company and the Thakral Family Group of Companies.
Working experience and occupation(s) during the past 10 years
December 2008 - Present
- Managing Director, Lifestyle Business of the Company

October 2006 - November 2008
- Non-Executive Director of the Company
- Self employed under the Thakral Family Group of Companies

Prior to October 2006
- Chief Executive Officer and Group Managing Director of the Company
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Deemed interest in 39,073,659 shares of the Company.
Other Directorships
# 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)
Please refer to attachment.
Present
Please refer to attachment.
(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
Disclosure applicable to the appointment of Director only.
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
N.A.

Attachments

Directorships_IST_20160128Final.pdf
Total size =8K