Change - Announcement of Appointment::Appointment of Non-Executive Director

Issuer & Securities

Issuer/ Manager
DATAPULSE TECHNOLOGY LIMITED
Securities
DATAPULSE TECHNOLOGY LIMITED - SG1CB7000003 - BKW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
15-Aug-2018 20:47:43
Status
New
Announcement Sub Title
Appointment of Non-Executive Director
Announcement Reference
SG180815OTHRYO1A
Submitted By (Co./ Ind. Name)
Lee Kam Seng
Designation
Chief Financial Officer and Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Executive Director - Mr Aw Cheok Huat

Additional Details

Date Of Appointment
15/08/2018
Name Of Person
Aw Cheok Huat
Age
67
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
Following Mr Aw's acquisition of 21,900,000 shares in the Company, the Board was approached by Mr Aw with a request for the Board to consider appointing Mr Aw to the Board as a non-independent non-executive director.

Pursuant to the aforementioned request, the Nominating Committee and the Board of Directors have conducted interviews and independent checks and searches on Mr Aw's background, and have also obtained relevant confirmations and declarations from Mr Aw.

After much deliberations and discussions, the Nominating Committee and the Board of Directors are of the opinion that it would be in the interest of the Company to appoint Mr Aw as a non-independent non-executive Director of the Company, inter alia, after taking into account the following considerations relating to his suitability for appointment:

(1) His role is that of a non-independent non-executive director, in view of his substantial shareholding interest in the Company.

(2) His background and experience, as well as contacts and network in the property business, which will be of relevance and beneficial to the Company in pursuing the Proposed Property Business as one of the core businesses of the Company.

(3) His corporate finance background and experience being a director of a listed company (ICP Ltd is a company listed on SGX), and hence familiarity with SGX listing rules and corporate governance framework for SGX listed companies.
Whether appointment is executive, and if so, the area of responsibility
Mr Aw Cheok Huat will assume the position of Non-Executive Director of the Company.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-independent and Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Conflict of interests (including any competing business)
The Company had on 16 July 2018 entered into a non-binding letter of intent with ICP Ltd's wholly owned subsidiary, Midscale Hotel Investments Pte. Ltd. in relation to the proposed acquisition by the Company of the entire issued and paid-up share capital of MHI MY 1 Pte. Ltd ("Proposed Acquisition").
Please refer to the Company's announcement dated 16 July 2018 for further details.

As Mr Aw is also the Non-Independent and Non-Executive Chairman and a controlling shareholder of ICP Ltd, Mr Aw will recuse himself and abstain from any deliberations and determinations by the Board on the Proposed Acquisition.
Working experience and occupation(s) during the past 10 years
Managing Director- MS Corporate Finance Pte. Ltd.
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
21,900,000 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)
Sunrise Shares Holdings Ltd.
MS IT Solutions Pte. Ltd.
Present
Please refer to attachment.
(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 a listed company?
Yes
If Yes, Please provide details of prior experience
1. Stamford Land Corporation Ltd
2. Singapore Shipping Corporation Limited
3. euNetworks Group Limited
4. Sunmoon Food Company Limited
5. Holista CollTech Limited
6. ICP Ltd.
7. Tiaro Coal Limited
8. Sunrise Shares Holdings Ltd.

Attachments

ACH - List of Directorships.pdf
Total size =453K