Change - Announcement of Appointment::Appointment of Independent Director
Issuer & Securities
Issuer/ Manager
SK JEWELLERY GROUP LIMITED
Securities
SK JEWELLERY GROUP LIMITED - SG1BG2000009 - 42G
Stapled Security
No
Announcement Details
Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
26-Jun-2019 21:01:37
Status
New
Announcement Sub Title
Appointment of Independent Director
Announcement Reference
SG190626OTHRI4DP
Submitted By (Co./ Ind. Name)
Lim Yong Sheng
Designation
Executive Director and Chief Executive Officer
Effective Date and Time of the event
26/06/2019 17:21:00
Description (Please provide a detailed description of the event in the box below)
Please see attached.
Additional Details
Date Of Appointment
30/06/2019
Name Of Person
Cheng Leung Ho
Age
65
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The board of directors of the Company (the "Board"), having reviewed and considered the qualifications and experience of Mr Cheng Leung Ho ("Mr Cheng"), and based on the recommendation of the nominating committee of the Company, is satisfied that Mr Cheng possesses the requisite qualifications and knowledge to assume the responsibilities as an independent director of the Company,
The Board considers Mr Cheng to be independent for the purpose of Rule704 (7) of the SGX-ST Listing Manual Section B: Rules of Catalist ("Catalist Rules").
Whether appointment is executive, and if so, the area of responsibility
The appointment is non-executive.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director and member of the Audit Committee, Nominating Committee and Remuneration Committee of the Company.
Professional qualifications
Bachelor of Business Administration (Chinese University of Hong Kong)
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
No
Conflict of interests (including any competing business)
No.
The spouse of Mr Cheng, Ms Leung Po Sang, holds a 10% shareholding interest in and is a director of , GoldSilver Central Pte. Ltd., ("GSC"), a company principally engaged in physical bullion trading in gold, silver and platinum, industry bullion supply and bullion buying and selling. Neither Mr Cheng nor his spouse has an executive role in the management of GSC.
After taking into consideration, inter alia, the above, the nominating committee of the Company is of the view that there will not be any conflict of interest arising from the shareholding and directorship held by Mr Cheng's spouse in GSC.
Working experience and occupation(s) during the past 10 years
November 2015 - Present : Singapore Bullion Market Association - Honorary CEO
April 2018 - March 2019: Chow Tai Fook Jewellery Co, Ltd - Advisor
April 2015 - March 2019 : World Gold Council - Advisor
March 1993 - March 2015 : World Gold Council - Managing Director - Far East
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
99,900 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)
1. WGC (Far East) Pte Ltd
Present
1. AC Consultants Ltd
2. Clean Earth Technologies Pte Ltd
3. Clean Mining (Singapore) Pte 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
Any prior experience as a director of an issuer listed on the Exchange?
No
If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange
Mr Cheng will be attending the relevant modules under the Listed Entity Directors Programme organised by the Singapore Institute of Directors to meet the mandatory training requirements under Rule 406(3)(a) of the Catalist Rules.
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)
Not applicable.
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