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

Issuer & Securities

Issuer/ Manager
KTL GLOBAL LIMITED
Securities
KTL GLOBAL LIMITED - SG1W37938998 - EB7
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
14-Dec-2021 21:43:06
Status
New
Announcement Sub Title
Appointment of Non-Executive Non-Independent Director and Non-Executive Chairman
Announcement Reference
SG211214OTHRKNER
Submitted By (Co./ Ind. Name)
Chin Teck Oon
Designation
Executive Director & CEO
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr. Wu Yongqiang as Non-Executive Non-Independent Director of the Company, Non-Executive Chairman of the Board and member of the Audit Committee, Remuneration Committee, Nominating Committee and Performance Share Scheme Committee with effect from 14 December 2021.

Additional Details

Date Of Appointment
14/12/2021
Name Of Person
Wu Yongqiang
Age
43
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr. Wu Yongqiang ("Mr. Wu") is a seasoned businessman with extensive experience, expertise and connection in various industries, such as food, construction and real estate, and has a track record in owning, running, advising and ultimately growing, varied businesses and companies, both in Singapore and the People's Republic of China.

Mr. Wu is currently the advisor of the Company and he had introduced new businesses to the Group since his appointment as advisor.

The Board of Directors, having considered the Nominating Committee's recommendation and assessment of Mr. Wu's background, qualifications, experience, commitment, and his past contributions to the Group, is of the view that Mr. Wu has the requisite experience and capabilities to assume the responsibilities of a Non-Executive Non-Independent Director. With Mr. Wu's significant contacts in the business world, Mr. Wu would be able to among others, procure the injection of new businesses into the Group and continue to provide leadership in moving the Group's businesses forward.

Mr. Wu Yongqiang will upon his appointment as Non-Executive Non-Independent Director be appointed as the Non-Executive Chairman of the Board of Directors and a member of the Audit Committee, Remuneration Committee, Nominating Committee and Performance Share Scheme Committee.

Mr. Wu Yongqiang shall be considered non-independent for purpose of Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited.
Whether appointment is executive, and if so, the area of responsibility
The appointment is non-executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Non-Independent Director, Non-Executive Chairman, AC Member, RC Member, NC Member and member of the Performance Share Scheme Committee.
Professional qualifications
Mr. Wu holds a Diploma in Business Administration from China University of Geosciences and a Degree in Business Administration from Beijing Foreign Studies University.

Mr. Wu is currently pursuing his Masters Degree in Agribusiness Management with the National Pingtung University of Science Technology.
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. Wu Yongqiang is the spouse of substantial shareholder, Ms. Zhang Xuemei. Ms. Zhang Xuemei holds 40,250,000 ordinary shares, representing 12.75% of the total issued and paid-up share capital of the Company.
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
Please refer to Appendix 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?
Yes
Shareholding Details
Deemed interested in 40,250,000 ordinary shares held by his spouse, Ms. Zhang Xuemei.
# 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 B
Present
Please refer to Appendix C
(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?
Yes
If Yes, Please provide full details
Mr. Wu was a director and shareholder of Weifang Shengxing Property Co., Ltd ("WFSX"), a company incorporated in Shandong, People's Republic of China which was declared to be insolvent and bankrupt by the district courts in Weifang city, Shandong on 13 April 2015 pursuant to an application for liquidation by several of WFSX's creditors.
(c) Whether there is any unsatisfied judgment against him?
Yes
If Yes, Please provide full details
Judgement in various civil suits initiated in PRC has been entered against me (in my capacity as personal guarantor) for various companies including WFSX.
(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?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
Mr. Wu Yongqiang will be briefed on his roles and responsibilities as a Director of the Company. The Company will make the arrangements for Mr. Wu to attend the relevant SID seminar(s) and/or course(s) on the roles and responsibilities of a director of an SGX-listed company.

Attachments

Appendix_A_Working_Experience.pdf
Appendix_B_Past_Directorship.pdf
Appendix_C_Present_Directorship.pdf
Total size =204K