Change - Announcement of Appointment::RE-DESIGNATION TO LEAD INDEPENDENT NON-EXECUTIVE DIRECTOR

Issuer & Securities

Issuer/ Manager
NERA TELECOMMUNICATIONS LTD
Securities
NERATELECOMMUNICATIONS LTD - SG1I64883495 - N01
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
25-Oct-2024 17:38:21
Status
New
Announcement Sub Title
RE-DESIGNATION TO LEAD INDEPENDENT NON-EXECUTIVE DIRECTOR
Announcement Reference
SG241025OTHRTJ7R
Submitted By (Co./ Ind. Name)
Gwendolyn Gn Jong Yuh
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
RE-DESIGNATION TO LEAD INDEPENDENT NON-EXECUTIVE DIRECTOR

Additional Details

Date Of Appointment
28/10/2024
Name Of Person
Basil Chan
Age
73
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)
The Board of Directors, having considered the recommendation of the Nominating Committee and having reviewed and considered the qualifications, working experience and suitability of Mr Basil Chan ("Mr Chan"), is of the view that Mr Chan has the requisite experience and capability to assume the responsibility as the Lead Independent Non-Executive Director of the Company.

Accordingly, the Board of Directors approved the re-designation of Mr Chan as the Lead Independent Non-Executive Director of the Company.
Whether appointment is executive, and if so, the area of responsibility
Appointment: Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of the Audit and Risk Management Committee and Remuneration Committee, and a member of the Nominating Committee
Professional qualifications
Bachelor of Science (Economics) Honours degree majoring in Business Administration from the University of Wales Institute of Science & Technology, U.K.

Fellow Member of the Institute of Chartered Accountants in England and Wales ("ICAEW")

Fellow Member of the Institute of Singapore Chartered Accountants ("ISCA")

Fellow Member of the Singapore Institute of Directors
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
MBE Corporate Advisory Pte Ltd
(2003 to present)
Managing Director

Grand Banks Yachts Limited
(2011 to present)
Independent and Non-Executive Director
(1 August 2024 to 24 October 2024)
Independent and Non-Executive Chairman
(24 October 2024 to present)
Non-Independent and Non-Executive Chairman

Broadway Industrial Group Limited
(2019 to present)
Independent and Non-Executive Director

Nera Telecommunications Ltd
(2020 to present)
Independent and Non-Executive Director
(7 August 2023 to present)
Independent and Non-Executive Chairman (prior to Mr Chan's re-designation to Lead Independent Director)

Memories (2022) Pte. Limited
(2023 to present)
Non-Executive Director
(1 August 2024 to present)
Non-Executive Chairman
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)
Independent and Non-Executive Director,
AEM Holdings Ltd
(2006 - 2022)

Independent and Non-Executive Director
Global Invacom Group Limited
(2012 - 2020)

Independent and Non-Executive Director
Memories Group Limited
(2017 - 2023)
Present
MBE Corporate Advisory Pte Ltd
- Managing Director

Grand Banks Yachts Limited
- Non-Independent and Non-Executive Chairman (upon the conclusion of the company's annual general meeting on 24 October 2024)

Broadway Industrial Group Limited
- Independent and Non-Executive Director

Nera Telecommunications Ltd
- Independent and Non-Executive Chairman (prior to Mr Chan's re-designation to Lead Independent Director)

Memories (2022) Pte. Limited
- Non-Executive Chairman
(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
Yes
If Yes, Please provide full details
Please refer to 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?
Yes
If Yes, Please provide full details
Please refer to the attachment.
(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?
Yes
If Yes, Please provide details of prior experience
Mr Chan has experience as a director of various listed companies and is a Fellow Member of the Singapore Institute of Directors.
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)
NA

Attachments

Annex 1 - Information Required Pursuant to Listing Rule 704.pdf
Total size =236K