REPL::Change - Announcement of Appointment::Re-designation of Non-Executive Chairman to Executive Chairman and Chief Executive Officer
Issuer & Securities
Issuer/ Manager
EINDEC CORPORATION LIMITED
Securities
EINDEC CORPORATION LIMITED - SG1CE9000005 - 42Z
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
19-Aug-2022 18:01:40
Status
Replacement
Announcement Sub Title
Re-designation of Non-Executive Chairman to Executive Chairman and Chief Executive Officer
Announcement Reference
SG220815OTHR7698
Submitted By (Co./ Ind. Name)
Shirley Tan
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
This announcement supersedes the announcement released by the Company on 15 August 2022 at 12.28pm (Reference number: SG220815OTHR7698).
Details of Mr. Zhang's present directorships have been updated to include "Weiye (Singapore) Investment Management Pte. Ltd." as it had been inadvertently omitted in the abovementioned announcement.
Re-designation of Mr. Zhang Wei ("Mr. Zhang") from Non-Executive Chairman to Executive Chairman and Chief Executive Officer ("CEO") of Eindec Corporation Limited (the "Company", and together with its subsidiaries, the "Group").
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility of 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. Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.
Additional Details
Date Of Appointment
15/08/2022
Name Of Person
Zhang Wei
Age
53
Country Of Principal Residence
China
Date of last re-appointment (if applicable)
22/04/2021
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Mr. Zhang will be re-designated to assume the position of Executive Chairman and the CEO of the Company to manage and oversee the overall business and activities of the Group with effect from 15 August 2022. Mr. Zhang is currently the Non-Executive Chairman of the Company, and controlling shareholder of the Company (through his shareholdings in Weiye Holdings Limited ("Weiye"), parent company of the Company). As Non-Executive Chairman of the Company, he has oversight over the executive running and operational matters of the Group.
The nomination of Mr. Zhang as the Executive Chairman and CEO of the Company was duly reviewed and assessed by the Nominating Committee and the board of directors of the Company ("Board"). The Board, after having reviewed and considered the qualifications and experience of Mr. Zhang, as well as his performance as the Non-Executive Chairman of the Company since September 2015, has approved the appointment of Mr. Zhang as the Executive Chairman and CEO of the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive. Responsible for the overall business operations and performance of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and CEO
Professional qualifications
Diploma in law from Zhongzhou University
Certified economist by Henan Province Science Committee
Master of Business Administration from Macau University of Science and 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. Zhang is a substantial shareholder of the Company with a deemed interest of 66.76% in the Company by virtue of his 54.46% shareholding interest in Weiye (a substantial shareholder of the Company with a direct interest of 66.76% in the Company) by virtue of Section 7 of the Singapore Companies Act 1967. Mr. Zhang is also the Executive Chairman and CEO of Weiye.
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
June 2002 to present: Executive Chairman and CEO* of Weiye Holdings Limited
*Note: Mr. Zhang stepped down as CEO of Weiye Holdings Limited from 1 March 2014 to 17 Oct 2016, but remained as Executive Chairman of Weiye Holdings Limited during this period.
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. Zhang is deemed to have an interest in the 71,900,000 shares of the Company held by Weiye by virtue of his 54.46% shareholding interest in Weiye by virtue of Section 7 of the Singapore Companies Act 1967.
# 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
- Weiye Holdings Limited
- Weiye Holdings (Hong Kong) Limited
- Hongji Weiye (Hainan) Non-Movable Property Management Group Co., Ltd
- Hainan Hongji Weiye Property Development Co., Ltd
- Great Spirit Management Limited
- Max Fill International Limited
- Weiye (Singapore) Investment Management 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. Zhang is a director of the Company since September 2015.
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
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