Change - Announcement of Appointment::Re-designation of Executive Chairman and CEO to Executive Director and CEO

Issuer & Securities

Issuer/ Manager
KITCHEN CULTURE HOLDINGS LTD.
Securities
KITCHEN CULTURE HOLDINGS LTD. - SG2D45972171 - 5TI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
24-May-2021 17:51:17
Status
New
Announcement Sub Title
Re-designation of Executive Chairman and CEO to Executive Director and CEO
Announcement Reference
SG210524OTHRTYY6
Submitted By (Co./ Ind. Name)
Lim Wee Li
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Re-designation of Executive Chairman and Chief Executive Officer to Executive Director and Chief Executive Officer.

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

Additional Details

Date Of Appointment
25/05/2021
Name Of Person
Lim Wee Li
Age
54
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Having regard to Provision 3.1 of the Code of Corporate Governance 2018 which provides that the chairman and the chief executive officer are separate persons to ensure an appropriate balance of power, increased accountability, and greater capacity of the board for independent decision making, and having reviewed and considered the re-designation of Mr Lim Wee Li ("Mr Lim") and the attendant circumstances, the Board concluded that Mr Lim possesses the requisite experience to carry out his duties as Executive Director and Chief Executive Officer of the Company. Accordingly, the Board approved his re-designation as Executive Director and Chief Executive Officer of the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive. Responsible for formulating the Group's strategic directions and expansion plans, as well as overseeing the sales, marketing and business development of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Executive Officer
Professional qualifications
Bachelor of Business Administration (major in Corporate Finance), University of North Texas, United States of America
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
March 2011 to present: Kitchen Culture Holdings Ltd. - Executive Chairman and Chief Executive Officer
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
Mr Lim is a controlling shareholder of the Company holding 66,148,657 ordinary shares in the Company.
# 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)
Directorships:
Wenul Assets (Industrial) Pte. Ltd.

Other Principal Commitments:
Nil
Present
Directorships:

Within the Group:
KHL Marketing Asia-Pacific Pte Ltd
KHL (Hong Kong) Limited
Kitchen Culture (China) Limited
Kitchen Culture (Hong Kong) Limited
Kitchen Culture (Macau) Limited
Kitchen Culture Sdn. Bhd.
Kitchen Culture (Sichuan) Co., Ltd.
Kitchen Culture Pte. Ltd.
KC Medical Supplies Pte. Ltd.
KCRoom Pte. Ltd.
KCube Pte. Ltd.
Haus Furnishings and Interiors Pte. Ltd.
Beef Up Global Pte. Ltd.
3L Asia Capital Pte. Ltd.
KC Technologies Pte. Ltd.

Outside the Group - Non-executive:
LWL Investments Pte. Ltd.
3E Leisure Pte. Ltd.
1L Pte. Ltd.
Kinji Japanese Dining Pte. Ltd.
Kyoaji Dining Pte. Ltd.
Wanton Global Pte. Ltd.
Wanton Seng's (Somerset) Pte. Ltd.
Wanton Seng's Express Pte. Ltd.

Other Principal Commitments:
Nil
(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
Yes
If Yes, Please provide full details
There was a composition fine of S$300 imposed against the directors of the Company by the Accounting and Corporate Regulatory Authority in 2016. Please refer to the Company's announcement dated 4 July 2016 for more information.
(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?
Yes
If Yes, Please provide full details
(a) In February 2018, Mr Lim received a supervisory warning from the Monetary Authority of Singapore to comply with the applicable laws and regulatory requirements relating to the timely disclosure of change of director or chief executive officer's interests in the securities of the Company.

(b) Mr Lim was fined an aggregate sum of S$2,800 for drink driving and speeding in 2004. The fines have been fully paid.
Any prior experience as a director of an issuer listed on the Exchange?
Yes
If Yes, Please provide details of prior experience
Mr Lim had been appointed as the Executive Chairman and Chief Executive Officer of the Company since 25 March 2011.