Change - Announcement of Appointment::Re-designation of Independent and Non-Executive Director to Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
VIBROPOWER CORPORATION LIMITED
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
12-Nov-2020 20:26:16
Status
New
Announcement Sub Title
Re-designation of Independent and Non-Executive Director to Non-Executive Chairman
Announcement Reference
SG201112OTHRNQ35
Submitted By (Co./ Ind. Name)
Mr. Benedict Chen Onn Meng
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Re-designation of Mr Ernest Yogarajah s/o Balasubramaniam from his current position as an Independent and Non-Executive Director to Non-Executive Chairman of the Company.

Additional Details

Date Of Appointment
12/11/2020
Name Of Person
Mr Ernest Yogarajah s/o Balasubramaniam
Age
59
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board of Directors is cognizant that Mr Ernest Yogarajah s/o Balasubramaniam ("Mr Bala") has served on the board of the Company for more than nine years and deemed it timely to refresh its board composition.

The Board of Directors , excluding Mr Bala (who recused himself from all discussions on this matter), recognises that Mr Bala has over time developed significant insights in the Group's businesses and operations and earned the support and respect of the Board for his valuable and knowledgeable advice. The Board believes that Mr Bala can continue to provide noteworthy and valuable contributions to the Board with his institutional knowledge. The Board of Directors deems it appropriate to re-designate Mr Bala from his current position as an Independent and Non-Executive Director to Non-Executive Chairman of the Company.
Whether appointment is executive, and if so, the area of responsibility
Appointment is Non-Executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent and Non-Executive Director.
Non-Executive Chairman.
Member of Audit Committee, Remuneration Committee and Nominating Committee.
Professional qualifications
Bachelor of Laws degree and a Master of Laws degree from the National University of Singapore
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
None
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
Mr Ernest Yogarajah s/o Balasubramaniam joined the Group and was appointed as Independent Director in May 2007. He is also a practising lawyer and Director of UniLegal LLC.
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)
None
Present
VibroPower Corporation 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
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
He is the current Lead Independent Director and Chairman of the Remuneration Committee of VibroPower Corporation Limited.