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

Issuer & Securities

Issuer/ Manager
JUBILEE INDUSTRIES HOLDINGS LTD.
Securities
JUBILEE INDUSTRIES HLDGS LTD. - SG1Y33945565 - 5OS
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
06-Aug-2019 17:27:57
Status
New
Announcement Sub Title
Re-designation of Non-Executive Chairman to Executive Chairman and CEO
Announcement Reference
SG190806OTHR68JI
Submitted By (Co./ Ind. Name)
Teo Chia Hui
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Re-designation of Mr Terence Tea Yeok Kian ("Mr Tea") from Non-Executive Chairman to Executive Chairman and Chief Executive Officer with effect from 6 August 2019.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved 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 contact person for the Sponsor is:-

Name: Mr Shervyn Essex, Registered Professional, RHT Capital Pte. Ltd.
Address: 9 Raffles Place #29-01, Republic Plaza Tower 1, Singapore 048619
Tel: 6381 6757

Additional Details

Date Of Appointment
06/08/2019
Name Of Person
Terence Tea Yeok Kian
Age
51
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
26/07/2018
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Having reviewed and considered the contributions, capabilities, qualifications and business network of Mr Tea, the Nominating Committee ("NC") has recommended the re-designation of Mr Tea as Executive Chairman and Chief Executive Officer of the Company.

The Board of Directors, having considered the NC's recommendation, approved the re-designation of Mr Tea as Executive Chairman and Chief Executive Officer of the Company.

The detailed rationale on Mr Tea's re-designation are contained in a separate announcement entitled "Re-designation of Non-Executive Chairman to Executive Chairman and Chief Executive Officer" released today.
Whether appointment is executive, and if so, the area of responsibility
Executive. Mr Tea will be responsible for charting the strategic directions of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer
Professional qualifications
(i) Ph.D. in Business Administration (Honorary) from Honolulu University
(ii) Diploma in Electronics and Electrical Engineering from Singapore Polytechnic
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

Please refer to announcement entitled "Re-designation of Non-Executive Chairman to Executive Chairman and Chief Executive Officer" released separately today.
Working experience and occupation(s) during the past 10 years
Mr Tea has been in the electronics industry for more than 30 years and has been a director of Accrelist Ltd. and the Company since 2013 and 2014 respectively.
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?
Yes
Shareholding Details
Mr Tea holds 655,600 shares of the Company and is deemed to be interested in 667,275,725 shares held by Accrelist Ltd., pursuant to Section 7 of the Companies Act, Chapter 50 by virtue of his and his spouse's shareholdings in Accrelist Ltd.
# 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)
Please refer to Appendix A.
Present
Please refer to Appendix 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
Yes
If Yes, Please provide full details
Please refer to Appendix B.
(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 Appendix B.
(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 Appendix B.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Mr Tea is presently a director of Accrelist Ltd. and Jubilee Industries Holdings Ltd., both of which are listed on the Catalist of SGX-ST.

Attachments

Appendix A_Directorship of Terence.pdf
Appendix B.pdf
Total size =140K