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

Issuer & Securities

Issuer/ Manager
MERCURIUS CAP INVESTMENT LTD
Securities
MERCURIUS CAP INVESTMENT LTD - SG2B96959558 - 5RF
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
05-Apr-2017 22:59:38
Status
New
Announcement Sub Title
Appointment of Non-Executive Director
Announcement Reference
SG170405OTHRZ2FD
Submitted By (Co./ Ind. Name)
Chang Wei Lu
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Chieng You Ping as Non-Executive Non-Independent Director

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, R & T Corporate Services Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Sponsor has not independently verified the contents of this announcement including the accuracy or completeness of any of the figures used, statements, opinions or other information made or disclosed.

This announcement has not been examined or approved by the Exchange. The Sponsor and the Exchange assume 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 Mr. Howard Cheam Heng Haw (Telephone Number: +65 6232 0685), R & T Corporate Services Pte. Ltd., at 9 Battery Road #25-01, Singapore 049910

Additional Details

Date Of Appointment
05/04/2017
Name Of Person
Chieng You Ping
Age
59
Country Of Principal Residence
Malaysia
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
As disclosed in the circular to shareholders dated 15 March 2017 in relation to, inter alia, the proposed diversification of the Group's business to include property development and property investment ("Proposed New Business"), the Company's wholly-owned subsidiary, Mercurius Capital Sdn. Bhd. had on 23 February 2017, entered into option agreements ("Option Agreements") with, inter alia, GCA Capital Sdn. Bhd. ("GCA Capital"), JBL Capital Sdn. Bhd. ("JBL Capital") and ACG Holdings Sdn. Bhd. ("ACG Holdings") to acquire the development rights to develop the land owned by the foregoing entities in the future. Mr Chieng You Ping is a director and shareholder of each of GCA Capital, JBL Capital and ACG Holdings. For further information on Mr Chieng You Ping's involvement in the Option Agreements, please refer to general announcement no. SG170405OTHRRWSK dated 5 April 2017.

The Nominating Committee and the Board, having reviewed Mr Chieng You Ping's interests in the Option Agreements, his directorship and shareholdings in each of GCA Capital, JBL Capital and ACG Holdings, as well as his professional experience, are of the opinion that his appointment would be beneficial to the Group and the Proposed New Business moving forward.
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 Non-Independent Director and a member of the Audit Committee, Remuneration Committee and Nominating Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Mr Chieng You Ping is a director and shareholder of each of GCA Capital, JBL Capital and ACG Holdings, which has entered into the Option Agreements with Mercurius Capital Sdn. Bhd., a wholly-owned subsidiary of the Company.

As of the date of this Announcement, the Group had yet to exercise the option. For further information on Mr. Chieng You Ping's involvement in the Option Agreements, please refer to general announcement no. SG170405OTHRRWSK dated 5 April 2017.
Working experience and occupation(s) during the past 10 years
Please refer to Annex A.
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
# 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)
Nil
Present
Please refer to Annex A.
(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
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
Mr Chieng You Ping does not have prior experience as director of a public listed company. The Company will arrange for Mr Chieng You Ping to attend seminars and courses on the roles and responsibilities of a director of a listed company.

Attachments

SGX Ann - Appt of NED_Chieng You Ping_Annex A.pdf
Total size =15K