Change - Announcement of Appointment::Re-designation of Mr. Jeffrey Ong as Acting Independent and Non-Executive Chairman

Issuer & Securities

Issuer/ Manager
ANNICA HOLDINGS LIMITED
Securities
ANNICA HOLDINGS LIMITED - SG1J70891671 - 5AL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
16-Feb-2017 20:19:05
Status
New
Announcement Sub Title
Re-designation of Mr. Jeffrey Ong as Acting Independent and Non-Executive Chairman
Announcement Reference
SG170216OTHRHG2X
Submitted By (Co./ Ind. Name)
Sandra Liz Hon Ai Ling
Designation
Executive Director and CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Continuing Sponsor, Stamford Corporate Services Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the SGX-ST Listing Manual Section B: Rules of Catalist.

The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Bernard Lui:
Telephone number: (65) 6389 3000
Email address: bernard.lui@morganlewis.com

Additional Details

Date Of Appointment
16/02/2017
Name Of Person
Ong Su Aun, Jeffrey
Age
40
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 (the "Board") of the Company, having considered the Nominating Committee's recommendations and taking into account contribution of Mr. Ong Su Aun, Jeffrey ("Mr. Ong") as the Independent and Non-Executive Director of the Company and his requisite track record, qualification and work experience, is of the view that Mr. Ong is independent and is able to exercise objective judgement on the Company's affairs independently and has therefore approved the re-designation of Mr. Ong as the Acting Independent and Non-Executive Chairman of the Company.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Acting Independent and Non-Executive Chairman, Chairman of Remuneration Committee and Member of Audit Committee and Nominating Committee.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Conflict of interests (including any competing business)
NIL
Working experience and occupation(s) during the past 10 years
Mr. Ong is an Advocate and Solicitor of the Supreme Court of Singapore and a Solicitor of the Supreme Court of England and Wales. He is a partner of JLC Advisors LLP and his practice focuses on crisis litigation and commercial disputes. Mr. Ong was an Independent and Non-Executive Director of the Company prior to his re-designation as the Acting Independent and Non-Executive Chairman from 16 February 2017. Mr. Ong is also an independent and non-executive director of CW Group Holdings Limited, a company listed on the main board of the Stock Exchange of Hong Kong. He was previously an independent and non-executive director of China Powerplus 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?
No
# 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)
China Powerplus Limited
Present
Annica Holdings Limited
CW Group Holdings Limited
(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
Prior to his re-designation, Mr. Ong was an Independent and Non-Executive Director of the Company. The Company was served with notices in 2014 to provide certain information and documents to the Commercial Affairs Department ("CAD") in relation to CAD's investigations into an offence under the Securities and Futures Act (Cap. 289). The investigations are still on-going and CAD has not provided the Company with further updates. Please refer to the Company's announcements dated 4 April 2014 and 29 April 2014.
(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
Mr. Ong has served on the Board as the Independent Non-Executive Director.