Change - Announcement of Appointment::Re-Designation of Non-Executive Director to Independent Director

Issuer & Securities

Issuer/ Manager
CWX GLOBAL LIMITED
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
03-Oct-2019 19:27:25
Status
New
Announcement Sub Title
Re-Designation of Non-Executive Director to Independent Director
Announcement Reference
SG191003OTHRDNIF
Submitted By (Co./ Ind. Name)
Jeffrey Pang
Designation
Director
Description (Please provide a detailed description of the event in the box below)
Announcement of re-designation of Mr Lee Chye Cheng, Adrian ("Mr Lee") (who has been a Director of the Company since 11 January 2011) from Non-Executive Director to Independent Director with effect from 3 October 2019.

This announcement has been prepared by CWX Global Limited (the "Company") and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST 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 Ms Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Date Of Appointment
03/10/2019
Name Of Person
Lee Chye Cheng, Adrian
Age
39
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
27/10/2016
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board of Directors of the Company has considered the assessment and accepted the recommendation of the Nominating Committee to re-designate Mr Lee (who has been a Director of the Company since 11 January 2011) as an Independent Director of the Company, after reviewing Mr Lee's confirmation of independence in accordance with the Singapore Code of Corporate Governance 2018 and the SGX-ST Listing Manual Section B: Rules of Catalist.
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 a member of the Audit Committee and Remuneration Committee
Professional qualifications
Bachelor's Degree of Finance - University of Strathclyde, Glasgow, United Kingdom
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
September 2007 to Present - Director of Jit Sun Investments Pte Ltd
May 2011 to May 2016 - Managing Director of Loyz Energy Limited (now known as CWX Global Limited)
2017 to November 2018 - Chief Executive Officer of Raimon Land PLC
November 2018 to Present - Chief Operating Officer of Raimon Land PLC
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
Direct interest in 1,103,000 shares of the Company, representing 0.03% of the issued and paid-up capital of the Company
# 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)
Diamonds Are Forever Pte Ltd
Klapsons Hotel Pte Ltd
SB Oil Pte Ltd
Select Group Limited
Moonshine Investments International Ltd (BVI)
ASAPH Holdings Limited (BVI)
Advance Resources Australia Pty. Ltd. (Australia)
Present
Jit Sun Investments Pte. Ltd.
Interlink Petroleum Limited
Raimon Land PLC
(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?
Yes
If Yes, Please provide full details
On 1 April 2019, Interlink Petroleum Limited, a company of which Mr Lee is a director, was placed under creditors' voluntary liquidation.
(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?
Yes
If Yes, Please provide details of prior experience
Mr Lee has been appointed as a Director of the Company since 11 January 2011, and he was a non-executive director of Select Group Limited from February 2010 to January 2017.