Change - Announcement of Appointment::Appointment of CEO

Issuer & Securities

Issuer/ Manager
MOOREAST HOLDINGS LTD.
Securities
MOOREAST HOLDINGS LTD. - SGXE69578966 - 1V3
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
21-Nov-2024 18:41:10
Status
New
Announcement Sub Title
Appointment of CEO
Announcement Reference
SG241121OTHR83JO
Submitted By (Co./ Ind. Name)
Sim Koon Lam
Designation
Executive Director, CEO and Deputy Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Eirik Ellingsen as Chief Executive Officer of the Company.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (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 Alicia Chang, Registered Professional, W Capital Markets Pte Ltd., 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3525.

Additional Details

Date Of Appointment
01/01/2025
Name Of Person
Eirik Ellingsen
Age
60
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The Nominating Committee had reviewed, assessed and concluded that Mr Eirik Ellingsen possesses the requisite qualifications and work experiences. On the recommendation of the Nominating Committee, the Board has approved the appointment of Mr Eirik Ellingsen as the Chief Executive Officer of the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive. Responsible for overseeing the Group's overall operations, strategic planning and execution of the Company's corporate strategies
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer
Professional qualifications
1. Certification in Leadership and Competence Development for Board and Committee Members, University of Stavanger
2. Certification in Business Sustainability Management, Institute for Sustainability Leadership, University of Cambridge
3. Certification in Foundation Program in Business Administration, BI Norwegian School of Management
4. Certification in ISO 9001, 14001, 27001 Lead Auditor Certificates, the Knowledge Academy
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
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
1. 2022 - Present (Last day of service on 31.12.2024)
Director, Norwegian Energy Partners / NORWEP

2. 2017 - Present
Director, CEO & Owner, Peerlytics Pte Ltd (currently dormant)

3. 2019 Present
Chairman & CEO, Peerlytics AS (currently dormant)

4. 2018 - 2022
CEO/Founder, Ferdocean AS

5. 2019 - 2022
CEO, Ferdocean Shipping AS

6. 2016 - 2018
President, OEG Offshore Ltd

7. 2013 - 2016
CEO & Director, Asia Offshore Rentals Pte Ltd

8. 2016 - 2018
Non-executive Director, Asia Offshore Rentals Pte Ltd

9. 2013 - 2015
Partner & Director, Asia Offshore Group Pte Ltd

10. 2018 - 2019
Director, M&O Partners Pte Ltd
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)
1. Norwegian Energy Partners / NORWEP (Last day of service on 31.12.2024)
2. Ferdocean AS
3. Ferdocean Shipping AS
Present
1. Peerlytics Pte Ltd
2. Peerlytics AS (Norway)
3. Ferdocean AS

Peerlytics Pte Ltd and Peerlytics AS (Norway) are dormant companies. While Mr Eirik will continue to be the Non-Executive Director of Ferdocean AS which is a holding company, he has confirmed that his role primarily involves providing strategic operational oversight and is not involved in the daily operations of the business. As such, he will be able to devote his time and attention to the Group s business operations and fulfil his duties and responsibilities as the Chief Executive Officer of the Company.
(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?
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
Not applicable
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)
Not applicable