Change - Announcement of Appointment::Re-designation of Executive Chairman as Non-Executive Non-Independent Director

Issuer & Securities

Issuer/ Manager
TRICKLESTAR LIMITED
Securities
TRICKLESTAR LIMITED - SGXE45760753 - CYW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
02-Dec-2022 17:46:16
Status
New
Announcement Sub Title
Re-designation of Executive Chairman as Non-Executive Non-Independent Director
Announcement Reference
SG221202OTHRWQSP
Submitted By (Co./ Ind. Name)
Bernard Christopher Emby
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Re-designation of Executive Chairman as Non-Executive Non-Independent Director.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Shervyn Essex, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Date Of Appointment
29/04/2023
Name Of Person
Bernard Christopher Emby
Age
51
Country Of Principal Residence
Malaysia
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The Nominating Committee and the board of directors of the Company ("Board") received the letter of resignation as Executive Chairman from Mr Bernard Christopher Emby ("Mr Emby"). The Company wishes to pursue a business strategy that is less capital intensive and that prioritises risk reduction versus growth uncertain market conditions.

Mr Emby wishes to pursue opportunities which align more with his skills in new product development and growth in cleantech and renewable energy solutions.

Following Mr Emby's cessation as the Executive Chairman, Mr Jeremy John Figgins will be redesignated to Non-Executive Independent Chairman with effect from 7 December 2022. Mr Emby is currently serving his notice period until 28 April 2023. Mr Emby will continue to remain as an Executive Director until 28 April 2023, following which Mr Emby will become a Non-Executive Non-Independent Director. He will be working closely with the Board to ensure a smooth transition subsequent to his resignation as Executive Chairman.

After having interviewed Mr Emby and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Emby as the Executive 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 Non-Independent Director
Professional qualifications
Bachelor of Arts - University of Western in 1992

Diploma in Business - Curtin University in 1993
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
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
January 2008 to present - Chief Executive Officer of TrickleStar Limited, Hong Kong

June 2015 to present - Executive Director of Zernet Limited

November 2015 to present - Executive Director of CircleBright 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
Direct interest of 25,462,680 ordinary shares and deemed interest in 9,554,846 ordinary shares held by CircleBright Limited.
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)
Nil
Present
1. TrickleStar Limited, Hong Kong
2. TrickleStar Inc. (US)
3. TrickleStar (M) Sdn Bhd
4. PlugLoad Pte. Ltd.
5. CircleBright Limited
6. Zernet Limited
7. ZMCB Sdn Bhd
8. Emby Properties 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
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 Emby has been a Director of TrickleStar Limited since its IPO in June 2019.
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)
NA