Change - Announcement of Appointment::Appointment of Jeffrey S. Macdonald as Interim CEO

Issuer & Securities

Issuer/ Manager
KRISENERGY LTD.
Securities
KRISENERGY LTD. - KYG532261099 - SK3
KRISENERGY S$130M6.25%N170609 - SG6RD3000000 - 10CB
KRISENERGY S$200M5.75%N180822 - SG6SE5000004 - 14PB
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
01-Jul-2016 11:33:39
Status
New
Announcement Sub Title
Appointment of Jeffrey S. Macdonald as Interim CEO
Announcement Reference
SG160701OTHR7UCS
Submitted By (Co./ Ind. Name)
Kelvin Tang
Designation
Company Secretary
Effective Date and Time of the event
01/07/2016 08:00:00
Description (Please provide a detailed description of the event in the box below)
Appointment of Jeffrey S. Macdonald as Interim CEO

Additional Details

Date Of Appointment
01/07/2016
Name Of Person
Jeffrey Saunders Macdonald
Age
60
Country Of Principal Residence
United Kingdom
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board selection criteria was focused on (a) senior oil and gas executive, (b) experienced in managing development projects and corporate capitalisation, (c) familiarity with Asian fiscal regimes and (d) deep understanding of the Company s business, financials, management and stakeholders, business, financials, management and stakeholders.
The Board has reviewed the qualifications and experience of Mr. Macdonald and, is of the view that based on his experience; he will be able to contribute positively to the Company.
Whether appointment is executive, and if so, the area of responsibility
Chief Executive Officer and Executive Director
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Executive Officer and Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NA
Conflict of interests (including any competing business)
NA
Working experience and occupation(s) during the past 10 years
Mr. Macdonald was our Non-Executive Independent Director and joined our Board of Directors in 2009. He is a currently a non-executive director of Hansa Hydrocarbons Ltd. From 1978 to 1995, he was the managing director at Production Testing Services, primarily managing Russia and the Middle East, and an engineer and project manager with Conoco Inc. in London, Dubai and Houston. Between 1995 and 2000, he was the managing director & chairman at Blackwatch Petroleum Services Ltd., an international exploration and production consultancy. In 2000, he served as the managing director at Highland Energy Limited, a United Kingdom independent exploration and production company. He was the chief executive officer between 2003 and 2005 at Caledonia Oil and Gas Limited, also a United Kingdom independent exploration and production company. He spent two and a half years with First Reserve as a managing director in London from 2007 and 2009, where he oversaw investment origination, structuring, execution, monitoring and exit strategy, with particular emphasis on the oil and gas reserves sector. He holds a Bachelor of Science (Hons) in Civil Engineering from Glasgow University.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
500,000 shares
Other Directorships
# 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)
Delta Energy Limited, U.K., Remora Energy
Present
KrisEnergy Ltd., Hansa Hydrocarbons Ltd
(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 a listed company?
Yes
If Yes, Please provide details of prior experience
Existing Director of KrisEnergy Ltd and non-executive director of Hansa Hydrocarbons Ltd.