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

Issuer & Securities

Issuer/ Manager
GRAND VENTURE TECHNOLOGY LIMITED
Securities
GRAND VENTURE TECHNOLOGY LTD - SGXE82751350 - JLB
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
28-Apr-2021 17:48:06
Status
New
Announcement Sub Title
Appointment of Non-Executive Director
Announcement Reference
SG210428OTHRTET5
Submitted By (Co./ Ind. Name)
Lee Tiam Nam
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Appointment of Mr Loke Wai San as the Non-Executive Director of the Company.

This document has been reviewed by the Company's Sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor") in accordance with Rule 226(2)(b) of the SGX-ST Listing Manual Section B: Rules of Catalist. This document has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Mr Jason Chian, Head, Corporate Finance, CIMB Bank Berhad, Singapore Branch, at 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, Telephone: +65 6337 5115.

Additional Details

Date Of Appointment
29/04/2021
Name Of Person
Loke Wai San
Age
52
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
In connection with the placement of shares to NT SPV 12 ("NT") which has been completed on 15 March 2021, NT is entitled to nominate one director for appointment to the Board.

NT has nominated Mr Loke Wai San to the Board.

With NT's nomination, recommendation of the Nominating Committee and with Mr Loke Wai San's qualifications, experience and suitability, the Board approves his appointment as Non-Executive Director 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.)
Non-Executive Director.
Professional qualifications
a) Masters of Business Administration / University of Chicago
b) Bachelor of Science in Electrical and Electronics Engineering / Lehigh University
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
Yes. Mr Loke Wai San is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares of New Earth Group 2 Ltd. ("NEG 2").

NEG 2 is the general partner of Novo Tellus PE Fund 2, L.P. ("NT Fund 2") and NT Fund 2 is the owner of 100% of the shares of NT.
Conflict of interests (including any competing business)
None.
Working experience and occupation(s) during the past 10 years
2011 to Present
- CEO of Novo Tellus Capital Partners
- Chairman of AEM Holdings 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
Deemed interest of 90,527,000 shares (amounting to 29.6%) in the capital of 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
1) Accellion Inc.
2) The Novo Tellus Group
3) Luma International Holdings Pte Ltd
4) Luxim Corporation Inc.
5) Novoflex Pte. Ltd.
6) Smartflex Technology Pte Ltd
7) Smartflex Innovation Pte. Ltd.
Present
Directorships
1) AEM Holdings Ltd.
2) Novo Tellus Capital Partners Pte Ltd
3) Afore Oy
4) Integrated Circuits Pte. Ltd.
5) Sunrise Technology Investment Holding (Cayman) Pte Ltd
6) Sunrise Technology Investment Holding Pte. Ltd.
7) New Earth Group Ltd
8) New Earth Group 2 Ltd
9) Procurri Corporation Limited
10) Enterprise Singapore
11) Tessolve Semiconductor Pvt. 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?
Yes
If Yes, Please provide details of prior experience
Mr Loke Wai San has been a director of AEM Holdings Ltd. since 2011, and a director of Procurri Corporation Limited since April 2019.