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

Issuer & Securities

Issuer/ Manager
SATS LTD.
Securities
SATS LTD. - SG1I52882764 - S58
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
25-Jan-2019 18:14:15
Status
New
Announcement Sub Title
Appointment of Independent Non-Executive Director
Announcement Reference
SG190125OTHRFKG3
Submitted By (Co./ Ind. Name)
Low Siew Tian
Designation
Assistant Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Ms. Jenny Lee as an Independent Non-Executive Director of SATS Ltd.

Additional Details

Date Of Appointment
25/01/2019
Name Of Person
Jenny Lee Hong Wei
Age
47
Country Of Principal Residence
China
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Ms. Jenny Lee is currently a Managing Partner at GGV Capital and has over 16 years of global Venture Capital experience and helped set up the GGV's first China operations in 2005.

Prior to that, Ms. Lee held various engineering and operating positions at Singapore Technologies Aerospace, joined Morgan Stanley as an investment banker and also served as a Vice President at JAFCO Investment (Asia Pacific) Ltd from 2002 to 2005, where she was responsible for leading investments in technology companies in China and Hong Kong.

Her strengths are in venture capital investing with a focus on finding and partnering with disruptive technology companies, coming up with latest technical inventions that can benefit the corporate world at large.

With more than 16 years of experience in venture capital investing, her wealth of experience will enhance and complement the competencies and skills of the present Board.

The Board has approved the appointment of Ms. Lee as an Independent Non-Executive Director of the Company after having considered the recommendation of the Nominating Committee and having reviewed the experience and skillset of Ms. Lee.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director
Professional qualifications
Master and Bachelor of Science in Electrical Engineering, Cornell University
Master of Business Admin from Kellogg School of Management, Northwestern University
Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Conflict of interests (including any competing business)
NIL
Working experience and occupation(s) during the past 10 years
2005 to present: Managing Partner, GGV Capital
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)
Please refer to Appendix A
Present
Please refer to Appendix B
(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
Director, Laix Inc. (NYSE)
Director, NIU Technologies (NASDAQ)
Director, YY Inc. (NASDAQ)
Director, 21Vianet Group Inc. (NASDAQ)
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)
Ms Jenny Lee has extensive experience as a director of listed companies and is currently a director of public companies listed on NASDAQ and NYSE. Upon appointment as an Independent Non-Executive Director of the Company, Ms Lee will be advised of her duties and obligations as a directors of an SGX listed company as well as compliance requirements under the relevant statutes and the SGX Listing Manual. The Company will advise and sponsor her for relevant and useful seminars conducted by external organisations pertaining to, inter alia, listed company directors' duties, corporate governance and the financial reporting regime.

Attachments

Appendix A and B.pdf
Total size =82K