Change - Announcement of Appointment::Appointment of Executive Officer

Issuer & Securities

Issuer/ Manager
OEL (HOLDINGS) LIMITED
Securities
OEL (HOLDINGS) LIMITED - SG0584008601 - 584
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Aug-2023 20:39:46
Status
New
Announcement Sub Title
Appointment of Executive Officer
Announcement Reference
SG230828OTHRG20M
Submitted By (Co./ Ind. Name)
Zhao Xin
Designation
Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below)
Appointment of Ms. Zhang Yulei ("Ms. Zhang") as an Executive Officer of the Company.

This announcement has been reviewed by the Company's sponsor, Evolve Capital Advisory Private Limited ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST").

This announcement has not been examined 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 details of the contact person for the Sponsor are:-
Name: Mr Jerry Chua (Registered Professional, Evolve Capital Advisory Private Limited)
Address: 138 Robinson Road, Oxley Tower, #13-02, Singapore 068906
Tel: (65) 6241 6626

Additional Details

Date Of Appointment
28/08/2023
Name Of Person
Zhang Yulei
Age
36
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Ms. Zhang is the daughter of Dr. Zhang Jian, the Chairman and Executive Director of the Company. Ms. Zhang is currently engaged as a consultant for the Company. During the period of her tenure, the management and Board of Directors have observed that she has contributed significantly to the Company's performance.

In the interests of good corporate governance, Dr. Zhang Jian has abstained from voting, deliberating on, participating in any discussions and/or making any recommendations in relation to the appointment of Ms. Zhang as the Chief Strategy Officer of the Company (the "Appointment").

Upon reviewing the qualifications and work experience of Ms. Zhang, and considering the recommendation by the management team and Nominating Committee, the Board of Directors (save for Dr. Zhang Jian) approved the appointment of Ms. Zhang as an executive officer and Chief Strategy Officer of the Company.
Whether appointment is executive, and if so, the area of responsibility
The appointment is executive. Ms. Zhang will be responsible for shaping strategic plans, monitoring markets, fostering innovation and aligning goals and resources.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Strategy Officer
Professional qualifications
Bachelor of Science - Boston College
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
Ms. Zhang is the daughter of Dr. Zhang Jian, who is the Chairman, Executive Director and a controlling shareholder of the Company.
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
May 2023 - Present
Business Consultant, OEL (Holdings) Limited

April 2022 - November 2022
Director of Strategy, Investment and Operations, Phemex Crypto Exchange

May 2020 - March 2022
Co-Founder, POP & BOTTLE (Shanghai)

November 2013 - October 2019
Engagement Manager, McKinsey & Company, Shanghai
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)
April 2022 - November 2022
Director of Strategy, Investment and Operations, Phemex Crypto Exchange

May 2020 - March 2022
Co-founder, POP&BOTTLE (Shanghai)

Nov 2013 - October 2019
Engagement Manager, McKinsey & Company, Shanghai
Present
May 2022 - Present
Business Consultant, OEL (Holdings) Limited
(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 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.