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

Issuer & Securities

Issuer/ Manager
SBI OFFSHORE LIMITED
Securities
SBI OFFSHORE LIMITED - SG1Y97950360 - 5PL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
02-Feb-2015 17:21:28
Status
New
Announcement Sub Title
Appointment of Independent Non-Executive Director
Announcement Reference
SG150202OTHRADV8
Submitted By (Co./ Ind. Name)
Amy Soh Wai Ling
Designation
Chief Financial Officer
Description (Please provide a detailed description of the event in the box below)
The Board of Directors (the "Board") of SBI Offshore Limited ("SBI" or the "Company" and together with its subsidiaries, the "Group") wishes to announce the appointment of Mr Basil Chan as an Independent Non-Executive Director, and a member of the Audit Committee and Board Risk Committee of the Company with effect from 2 February 2015.


Pursuant to Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited, the Board considers Mr Basil Chan to be independent.


For changes in the Board of Directors and Board Committees, please refer to Appendix A.
============================================================================================
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement.

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

The contact person for the Sponsor is Mr Lance Tan, Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.

Additional Details

Date Of Appointment
02/02/2015
Name Of Person
Basil Chan
Age
64
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee ("NC") has reviewed the credentials of Mr Basil Chan ("Mr Basil") and believes Mr Basil has the qualification and experiences to act in the appointed capacity and contribute towards the core competencies of the Board. As recommended by the NC, the Board approved his appointment as the Independent 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.)
Independent Non-Executive Director, member of Audit Committee and Board Risk Committee
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)
None
Working experience and occupation(s) during the past 10 years
July 2003 - Present
MBE Corporate Advisory Pte Ltd
Founder and Managing Director
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)
Seroja Investments Limited
14 August 2009 - 24 April 2012

RSH Limited
12 April 2006 - 15 October 2010

Singapore Institute of Directors
2 January 2002 - 20 November 2013

Teledata (Singapore) Ltd
16 February 2012 - 3 March 2014

MBE Capital Pte Ltd
5 December 2003 - 12 May 2014
Present
Singapore eDevelopment Limited (formerly known as CCM Group Limited)
1 March 2014 - Present

AEM Holdings Ltd.
8 March 2006 - Present

Yoma Strategic Holdings Ltd.
17 August 2006 - Present

Grand Banks Yachts Limited
14 November 2011 - Present

Global Invacom Group Limited
25 April 2012 - Present

MBE Corporate Advisory Pte Ltd
3 July 2003 - Present
(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
Please refer to Appendix B
(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?
Yes
If Yes, Please provide full details
Please refer to Appendix C
(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
Teledata (Singapore) Limited
Lindeteves-Jacoberg Limited
Westech Electronics Limited (now known as WE Holdings Ltd)
RSH Limited (delisted on 15 October 2010)
Seroja Investments Limited
AEM Holdings Limited
Yoma Strategic Holdings Ltd
Grand Banks Yachts Limited
Global Invacom Group Limited
Singapore eDevelopment Limited (formerly known as CCM Group Limited)
Stratech Systems Limited

Attachments