Change - Announcement of Appointment::Appointment of Non-Executive Chairman of the Board of Directors

Issuer & Securities

Issuer/ Manager
LHT HOLDINGS LIMITED
Securities
LHT HOLDINGS LIMITED - SG1BG5000006 - BEI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
24-Apr-2024 21:56:20
Status
New
Announcement Sub Title
Appointment of Non-Executive Chairman of the Board of Directors
Announcement Reference
SG240424OTHRF19A
Submitted By (Co./ Ind. Name)
Sally Yap Mei Yen
Designation
Corporate Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Li Suet Man as the Non-Independent Non-Executive Chairman of the Board of Directors

Additional Details

Date Of Appointment
23/04/2024
Name Of Person
Li Suet Man
Age
63
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
28/04/2023
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The Nominating Committee have reviewed the experience, qualification and skill set of Mr Li Suet Man ( Mr Li ) and recommended to the board of directors of the Company (the Board ) for the appointment of Mr Li as the Non-Independent, Non-Executive Chairman of the Board.

The Board was of the view that, as Chairman of the Board, Mr Li will provide strategic leadership to the Board in creating long term value for the Company and the Group. Furthermore, Mr Li's appointment as Chairman of the Board is also in line with good corporate governance practice to separate the role of Chairman of the Board from that of the Managing Director/Chief Executive Officer.

Upon Mr Li's appointment as Non-Independent, Non-Executive Chairman of the Board, Ms Yap Mui Kee shall cease to be the Executive Chairman of the Board.

Ms Yap Mui Kee remains as the Managing Director of the Company.
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-Independent, Non-Executive Chairman
Professional qualifications
Master of Science and Executive Master of Science in Finance - The Bernard M. Baruch College, City University of New York Member of Beta Gamma Sigma
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
Yes. Father of the substantial shareholder of the Company, Mr Li Ear.
Conflict of interests (including any competing business)
None
Working experience and occupation(s) during the past 10 years
April 2005 - Present: Chief Executive Officer and Alternate Director of Feoso Oil (Singapore) 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?
Yes
Shareholding Details
12,098,147 shares in LHT Holdings Limited
# 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. CEO, Feoso Oil (Singapore) Pte Ltd
2. Non-Executive Director, The Trading Room Enterprise Pte Ltd
3. Non-Executive Director, Club Chinois Pte Ltd
4. Non-Executive Director, Chinois Pte Ltd
5. Non-Executive Director, Far East Oil Terminal One Sdn Bhd
6. Non-Executive Director, LSO Oceanrina Development (S) Pte Ltd
7. Non-Executive Director, SME Centre@SMF Pte Ltd
8. Non Executive Director, Longrunn Pte. Ltd
Present
1. Alternate Director and CEO, Feoso Oil (Singapore) Pte Ltd
2. Alternate Director, Feoso (Singapore) Pte Ltd
3. Alternate Director, Feoso Investment (Singapore) Pte Ltd
4. Non-Executive Director, The Trading Room Enterprise Pte Ltd
5. Non-Executive Director, Club Chinois Pte Ltd
6. Non-Executive Director, Chinois Pte Ltd
7. Non-Executive Director, Fiyala Pte Ltd
8. Non-Executive Director, Synectix Pte Ltd
9. Non-Executive Director, Marina Holistic Exchange Centre Pte. Ltd
10. Non-Executive Director, Far East Oil Terminal One Sdn Bhd

(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 Li has more than four (4) years of experience in the listed Company, LHT Holdings Limited
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)
Mr Li has more than four (4) years of experience in the listed Company, LHT Holdings Limited

Attachments

LHT_ 2024_0424_Ann_New_Chairman_of_Board___FINAL.pdf
Total size =64K