Change - Announcement of Appointment::Announcement of Appointment of Non-Independent and Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
LIVINGSTONE HEALTH HOLDINGS LIMITED
Securities
LIVINGSTONE HEALTH HLDGS LTD - SGXE70643320 - PRH
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
05-Feb-2021 00:42:17
Status
New
Announcement Sub Title
Announcement of Appointment of Non-Independent and Non-Executive Chairman
Announcement Reference
SG210205OTHRWW4T
Submitted By (Co./ Ind. Name)
Teh Wing Kwan
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Independent and Non-Executive Chairman.

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("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. Tay Sim Yee, SAC Capital Private Limited at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542, Telephone (65) 6232 3210.

Additional Details

Date Of Appointment
04/02/2021
Name Of Person
Teh Wing Kwan
Age
48
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Mr Teh Wing Kwan ("Mr Teh") was appointed as Executive Chairman and Chief Executive Officer ("CEO") of the Company in July 2018 after he acquired 28.73% equity interest to become the single largest shareholder of the Company. Mr Teh's key role was to initiate corporate strategic reviews, set new business directions, lead in the implementation of growth initiatives and execute new investment strategies for the Company. Following completion of the Reverse Takeover of Livingstone Health Ltd (the "RTO"), a key corporate turnaround plan for the Company, Mr Teh will be re-designated as Non-Independent and Non-Executive Chairman of the Company.

The Board of Directors, having considered the above, qualifications, work experience and suitability of Mr Teh as well as the recommendations of the Nominating Committee, has approved the appointment of Mr Teh as Non-Independent and Non-Executive Chairman of the Company. Mr Teh remains as a substantial shareholder of the Company after the RTO and will thus be considered as Non-Independent for the purpose of Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited.
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 and Non-Executive Chairman, member of the Audit Committee, the Nominating Committee, and the Remuneration Committee
Professional qualifications
Fellow of the Association of Chartered Certified Accountant (United Kingdom);
Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants;
International Affiliate of the Hong Kong Institute of Certified Public Accountants;
Chartered Accountant of the Malaysian Institute of Accountants
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
No
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
Mr Teh is currently the Non-Independent and Non-Executive Chairman of the HKEX-listed China Vanadium Titano-Magnetite Mining Company Limited and Advisor of the SGX-listed Koda Ltd. Mr Teh was the Group CEO and Managing Director of the SGX-listed Sapphire Corporation Limited from October 2013 to December 2017. He also served as a non-executive director of other public companies listed on the SGX-Catalist, HKEX and ASX.
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
23,743,922 ordinary shares in the listed issuer (post-consolidation)
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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 1 for details
Present
Please refer to Appendix 1 for details
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Mr Teh is or was appointed director for public companies listed on the SGX-ST, SGX-Catalist, HKEX and ASX
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)
Please refer to Appendix 1 for details

Attachments

Appendix_1-TWK.pdf
Total size =92K