Change - Announcement of Appointment::Appointment of Non-Executive Director and Chairman

Issuer & Securities

Issuer/ Manager
S I2I LIMITED
Securities
S I2I LIMITED - SG1BD0000008 - BAI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Sep-2015 22:29:44
Status
New
Announcement Sub Title
Appointment of Non-Executive Director and Chairman
Announcement Reference
SG150901OTHRAK6H
Submitted By (Co./ Ind. Name)
Maneesh Tripathi
Designation
Executive Director and Group CEO
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Executive Director and Chairman.

Additional Details

Date Of Appointment
01/09/2015
Name Of Person
Dr Bhupendra Kumar Modi
Age
67
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee recommended the appointment of Dr Bhupendra Kumar Modi ("Dr BK Modi"). Dr. BK Modi is the Chairman of Smart Global Group, which through its group company S Global Innovation Centre Pte. Ltd. is the substantial shareholder of Si2i Limited.The Board approved the appointment of Dr BK Modi. Dr BK Modi will contribute to the Board in terms of leadership, knowledge, skills, experience and vision to deliver the strategy for the growth and turnaround of the Company.
Whether appointment is executive, and if so, the area of responsibility
No.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director and Chairman
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Dr. BK Modi is father of Mr. Dilip Modi and Ms. Divya Tongya, substantial shareholders of the Company where they both hold deemed interest of 26.54% of the Company through S Global Innovation Centre Pte. Ltd. He is also a substantial shareholder of the Company.
Conflict of interests (including any competing business)
(a) S Mobility Limited is a listed company in India, which is engaged in distribution of handsets, operator products etc. in Indian territory.

(b) Some of the subsidiaries of Si2i Limited are also engaged in distribution of handsets (since closed) and operator products in Indonesia and Malaysia etc.
Working experience and occupation(s) during the past 10 years
Dr. BK Modi is a well known industrialist in India and Singapore having been involved as Chairman of large corporations like Modi Xerox Limited, Modi Olivitti Limited, Modi Telestra Pvt. Limited and Spice Communications Limited etc. Dr. BK Modi is a well known philantropist and is a recognised global future-preneur. In the past three decades, he has forged Joint Venture Partnerships with global giants such as Alcatel, Telstra, Olivetti and Telekom Malaysia.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Dr. BK Modi is deemed to be interested in 4,178,951 Shares comprising the following:

(a) 3,638,921 Shares held directly by S Global Innovation Centre Pte Ltd as S Global Innovation Centre Pte Ltd is controlled by Dr BK Modi, Dilip Modi and Divya Tongya. By virtue of Section 7 of the Companies Act, Spice Global Investments Pvt Ltd, Orion Telecoms Ltd, Dai (Mauritius) Company Ltd, Falcon Securities Ltd, Guiding Star Ltd, Christchurch Investments Ltd, S Global Holdings Ltd, Prospective Infrastructure Pvt Ltd and Smart Ventures Private Ltd (previously "Si2i Mobility Private Ltd") are deemed to be interested in the 3,638,921 shares held through S Global Innovation Centre Pte Ltd;

(b) 410,660 Shares held directly by S Global Holdings Pte Ltd as S Global Holdings Pte Ltd is wholly-owned by Dr BK Modi;

(c) 86,370 Shares held directly by Spice Bulls Pte Ltd as Spice Bulls Pte Ltd is wholly-owned by S Global Holdings Pte Ltd, which is in turn wholly-owned by Dr BK Modi; and

(d) 43,000 Shares held directly by Innovative Management Pte Ltd as Innovative Management Pte Ltd is wholly-owned by Dr BK Modi.
# 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)
1. Affinity Capital Pte Ltd
2. Armorcoat Technologies Pte Ltd
3. Mineworks Private Limited
4. Modipur Devices Private Limited
5. Newtel Corporation Co. Ltd
6. PT Selular Global Net
7. S GIC Pte Ltd
8. S Global Holdings Pte Ltd
9. S Global Innovation Centre Pte Ltd
10. S Mobility Limited
11. S Mobility Pte Ltd
12. Smart Ventures Private Limited
13. Smartglobal Ventures Private Limited
14. Smartvalue Ventures Private Limited
15. Spice Impex Private Limited
16. Spice Circle Pte Ltd
17. Spice Innovative Technologies Pvt Ltd
18. Spice-CSL Pte Ltd
19. Spice Connect Private Ltd
20. Spice Internet Service Provider Private Ltd
21. Spice Digital Ltd
22. Spice Retail Ltd
Present
1. G M Modi Hospitals Corporation Pvt. Ltd (now known as Saket City Hospitals Pvt. Ltd.)
2. Smart co. Holdings Pte. Ltd.
3. M Corp Investments Pte Ltd
4. Smat Wow Pte Ltd
5. Spice Global Pte Ltd
6. Spice Bulls Pte Ltd
7. Smart Health City Pte Ltd
8. Saket City Hospital Pte Ltd
9. Buddha Films Ltd
10. SmoothRise Enterprises Pte. Ltd
11. Innovative Management Pte. Ltd.
12. Mcorpglobal Communications Private Ltd.
13. Super Infosys Private Ltd.
14. Spice Televentures Private Ltd.
(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
Please refer to Note (1) in the attachment.
(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
Yes
If Yes, Please provide full details
Please refer to Note (2) in the attachment.
(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?
Yes
If Yes, Please provide full details
Please refer to Note (2) in the attachment.
Any prior experience as a director of a listed company?
Yes
If Yes, Please provide details of prior experience
S i2i Limited (from 31 August 2009 to 14 November 2013)
Spice Mobile Ltd (21st August, 2006 to 31st July, 2008 and from 24th April, 2010 to 18th February, 2014) and Spice Communications Ltd. (till 2008), each of which are / were listed on the Bombay Stock Exchange and the National Stock Exchange India.

Attachments

Notes_BKModi.pdf
Total size =121K