Change - Announcement of Appointment::Re-designation of Mr Wong Lok Yung as Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
GDS GLOBAL LIMITED
Securities
GDS GLOBAL LIMITED - SG2F65991521 - 5VP
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Nov-2023 21:33:37
Status
New
Announcement Sub Title
Re-designation of Mr Wong Lok Yung as Non-Executive Chairman
Announcement Reference
SG231101OTHRGFW6
Submitted By (Co./ Ind. Name)
Maureen Low
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Re-designation of Mr Wong Lok Yung as Non-Executive Non-Independent Chairman

This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited (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 Ms Audrey Mok (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Date Of Appointment
16/11/2023
Name Of Person
Wong Lok Yung
Age
72
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
21/01/2022
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Mr Wong Lok Yung ("Mr Wong") was appointed as an Executive Director on 19 July 2012. Mr Wong will cease his position as Executive Director on 15 November 2023 and he shall be re-designated as Non-Executive Non-Independent Chairman with effect from 16 November 2023 to continue to provide guidance to the Group in its strategic and operation objectives. He will also cease as Chief Executive Officer with effect from 15 November 2023. Mr Wong will continue to provide guidance to the Group but will cease to be involved in the Group's day-to-day management and operations and will no longer be part of the Group's management.

Having considered the above, the Board has approved Mr Wong's re-designation as Non-Executive Non-Independent Chairman of the Company. The Nominating Committee and the Board are of the opinion that with the abovesaid changes, the Board size and its composition remain appropriate, considering the current scope and nature of the operations of the Group.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Non-Independent Chairman.
Professional qualifications
Singapore Polytechnic
Building Technician Diploma
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
Mr Wong directly holds 90% of the issued share capital of D'Oasis Pte. Ltd., a substantial shareholder of the Company.
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
GDS Global Limited
17 July 2012 to 15 November 2023
Executive Chairman and Chief Executive Officer

Gliderol Doors (S) Pte. Ltd.
1 September 1982 to present
Director
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
16,500,000 shares under D'Oasis Pte. Ltd.

Mr Wong is directly interested in 90% shareholding of D'Oasis Pte. Ltd. and is deemed to have an interest in the remaining 10% shareholding of D'Oasis Pte. 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)
NIL
Present
1. GDS GLOBAL LIMITED
2. GLIDEROL DOORS (S) PTE. LTD.
3. D'OASIS PTE. LTD.
4. GRIMM INDUSTRIES PTE. LTD.
5. HOMEGARDD PTE. 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?
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
Mr Wong was appointed as an Executive Director of GDS Global Limited since 19 July 2012.
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)
Mr Wong was appointed as an Executive Director of GDS Global Limited since 19 July 2012.