Change - Announcement of Appointment::Appointment of Non-Executive Deputy Chairman

Issuer & Securities

Issuer/ Manager
DARCO WATER TECHNOLOGIES LIMITED
Securities
DARCO WATER TECHNOLOGIES LTD - SG1CC9000009 - BLR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
03-Apr-2018 22:27:11
Status
New
Announcement Sub Title
Appointment of Non-Executive Deputy Chairman
Announcement Reference
SG180403OTHRUAOC
Submitted By (Co./ Ind. Name)
Thye Kim Meng
Designation
Chairman, Managing Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Executive Deputy Chairman

Additional Details

Date Of Appointment
03/04/2018
Name Of Person
Wang Zhi
Age
53
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee had considered Mr. Wang Zhi's track record, age, working experiences, capabilities and other relevant factors for the appointment as the Non-Executive Deputy Chairman of the Company and recommended to the Board of Directors ("Board") for his appointment.

The Board has approved Mr. Wang Zhi's appointment as Non-Executive Deputy Chairman.
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 Deputy Chairman and Investment Committee Chairman
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Mr. Wang owns 100% equity in Orient Harmony Holdings Limited, a holdings company of Salcon Linyi (HK) Limited, which in turn owns 60% equity interest in a project company operating a 150 mld potable water supply project in Shandong, China.

He also owns 100% equity in Obor Investment Holdings Pte Ltd which is the holding company for Hydroring Pte Ltd and Ultraco Greentech Pte Ltd, which in trun owns an aggregate of 100% equity interest in the project company operating a 50 mld potable water supply and a 20 mld wastewater treatment project in Zan Huang Country, Hebei, China.

Mr. Wang is actively pursuing investment opportunities in water supply and wastewater treatment projects in China in relation to his business. To mitigate any potential conflicts of interest that may arise in relation to his appointment as a Director of the Company, Mr. Wang has undertaken to (i) fully disclose any conflict of interest to the Board; (ii) not pursuing any investments brought before the Investment Committee; and (iii) recusing from participating in the Board's and Investment Committee's proceedings, deliberations and decision-making, where that conflict may indicate it is appropriate to do so and abstaining from voting on that matter.
Working experience and occupation(s) during the past 10 years
September 2008 to Current - Chairman/Chief Executive Officer/President/Director, Future Development Group Limited
September 2008 to Current - Chairman/Chief Executive Officer/President/Director, Future International Investment Limited
September 2008 to Current - Chairman/Chief Executive Officer/President/Director, Future Holdings Group Limited
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
27,680,000 shares
# 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)
DSG Environment Shandong Limited
Yunnan Water International Limited
Future Investment Enterprise Limited
Hui Ze Water Services (Qing Zhou) Co., Ltd
Hui Ze Water Services (Sishui) Co., Ltd
Hui Ze Water Services (He Ze) Co., Ltd
Present
Future Development Group Limited
Future International Investment Limited
Future Holdings Group Limited
East Sun International Investment Limited
Pan Asia International (Qing Zhou) Co., Limited
Orient Harmony Holdings Limited
Salcon Linyi (HK) Limited
Chelsea Sky Group Limited
East Sun International Limited
Rich Fareast Holdings Limited
Future International Development Group Limited
Dragon Spring Group Co., Ltd.
Salcon Linyi Water Services Co., Ltd
Hebei Kay Yuan Cheng He Water Services Engineering Co., Ltd
Xinjang Xiang Fei Hu Flower Manor Co., Ltd
Qing Zhou Dong Hui Eco-tourism Co., Ltd
Dragon Spring Technology Development (TianChang) Co., Ltd
Obor Investment Holdings Pte. Ltd.
Utraco Greentech Pte Ltd
Hydroring Pte Ltd.
Chengho Cultural & Tourism Corporation 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 a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Mr. Wang will be attending courses and trainings in respect of roles and responsibilities of a Director of a listed company.