Change - Announcement of Appointment::Re-designation of Independent Non-Executive Director to Non-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
30-Aug-2024 18:39:34
Status
New
Announcement Sub Title
Re-designation of Independent Non-Executive Director to Non-Independent Non-Executive Director
Announcement Reference
SG240830OTHRFPA1
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)
Re-designation of Mr Eng Aik Meng from an Independent Non-Executive Director to Non-Independent Non-Executive Director

Additional Details

Date Of Appointment
01/09/2024
Name Of Person
Eng Aik Meng
Age
54
Country Of Principal Residence
Singapore
Date of last re-appointment (if applicable)
21/07/2023
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Mr Eng Aik Meng will be appointed as Joint Head, Portfolio Development Group and Head, Operating Group, of Temasek International Pte. Ltd. (Temasek International) with effect from 1 September 2024. Temasek International is a wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek), which is in turn a substantial shareholder of SATS Ltd.

Mr Eng has declared that following his appointment as Joint Head, Portfolio Development Group and Head of Operating Group of Temasek International, a full-time executive role within Temasek, he will consider himself as a non-independent Director of the Company. His executive role in Temasek International includes engaging and partnering Temasek's portfolio companies in their respective growth, innovation, and/or transformation journeys.

The Board has, after having considered the recommendation of the Nominating Committee and having reviewed his independence declaration, approved the redesignation of Mr Eng from an Independent Non-Executive Director to Non-Independent Non-Executive Director with effect from 1 September 2024.
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 Director
Member, Nominating Committee
Member, Remuneration and Human Resource Committee
Professional qualifications
Bachelor of Accountancy (Honours) from Nanyang Technological University
Master of Business Administration (MBA) from Harvard 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 any of its principal subsidiaries
Mr Eng is currently an independent director of 65 Equity Partners Pte. Ltd., a wholly owned subsidiary of Temasek.

He will be appointed as Joint Head, Portfolio Development Group and Head of Operating Group, of Temasek International with effect from 1 September 2024. Temasek International is a wholly owned subsidiary of Temasek.
Conflict of interests (including any competing business)
Save for the above disclosed relationships with Temasek, Temasek International and 65 Equity Partners Pte. Ltd., Mr Eng is not involved in any undertaking which conflict with the business of the Company.
Working experience and occupation(s) during the past 10 years
Group CEO, TE Healthcare Advisory Pte. Ltd. from Oct 2015 to 15 August 2024
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
Direct Interest - 8,300 ordinary shares of SATS Ltd.

Deemed Interest through spouse - 20,000 ordinary shares of SATS Ltd
# 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 the attachment for the details of past directorships
Present
Please refer to the attachment for the details of present directorships
(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
Independent Director of the Company prior to the re-designation.

Attachments

List_of_Past_and_Present_Directorships_EAM.pdf
Total size =61K