Change - Announcement of Appointment::APPOINTMENT OF CEO-DESIGNATE
Issuer & Securities
BLACKGOLD NATURAL RESOURCES LIMITED
BLACKGOLD NATURAL RESOURCESLTD - SG1AH0000001 - 41H
Change - Announcement of Appointment
Date &Time of Broadcast
Announcement Sub Title
APPOINTMENT OF CEO-DESIGNATE
Submitted By (Co./ Ind. Name)
Philip Cecil Rickard
Executive Chairman and CEO
Description (Please provide a detailed description of the event in the box below)
This announcement has been reviewed by the Company's Sponsor, SAC Capital Private Limited (the "Sponsor").
This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms. Tay Sim Yee (Telephone number: +65 62323210), at 1 Robinson Road, #21-00 AIA
Tower, Singapore 048542.
Date Of Appointment
Name Of Person
Country Of Principal Residence
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
In view of Mr Philip Cecil Rickard's ("Mr Rickard") retirement as a Director and Executive Chairman of the Board and his simultaneous resignation as the Chief Executive Officer ("CEO") following the conclusion of the annual general meeting for the financial year ("FY") ended 31 December 2018 ("FY2018 AGM"), Mr Andreas Rinaldi ("Mr Rinaldi") will be appointed as CEO-designate with effect from 16 October 2019. Subsequent to the Company holding its FY2018 AGM, which is targeted by 31 October 2019 or such other later date, Mr Rinaldi will take over the full responsibilities of CEO from Mr Rickard and will be appointed as Executive Director to the Board.
The Nominating Committee has reviewed the experience, qualifications, skill sets and strong business network of Mr Rinaldi and is satisfied that Mr Rinaldi possesses the requisite qualifications and competencies to assume the position of Executive Director and CEO. The Board of Directors approved the appointment of Mr Rinaldi as Executive Director and CEO of the Company upon the recommendation of the Nominating Committee.
Whether appointment is executive, and if so, the area of responsibility
The appointment is an executive position. Mr Rinaldi will be responsible for the overall management and direction of the Group s business.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
CEO-Designate and subsequently Executive Director and Chief Executive Officer
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
Conflict of interests (including any competing business)
Working experience and occupation(s) during the past 10 years
2005 to Present:
PT Samantaka Batubara (Executive Director)
PT Ausindo Prima Andalas (Executive Director)
PT Ausindo Andalas Mandiri (Executive Director)
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
Shareholding interest in the listed issuer and its subsidiaries?
Pak Andreas currently holds 66.66% in PT Ausindo Andalas Pratama, which owns 33.3% of PT Serasi Duta Pratama ("PT SDP"). PT SDP holds 1.0% each in the Group s Indonesian subsidiaries, PT Samantaka Batubara, PT Ausindo Andalas Mandiri and PT Ausindo Prima Andalas to comply with Indonesian laws, which require a minimum of 2 shareholders in a limited liability 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)
Sarmi Papua Asia Oil Ltd
PT Inti Nickelindo Resources
PT Samantaka Batubara
PT Ausindo Prima Andalas
PT Ausindo Andalas Mandiri
(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?
(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?
(c) Whether there is any unsatisfied judgment against him?
(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?
(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?
(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?
(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?
(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?
(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?
(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
(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
(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
(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?
(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?
Any prior experience as a director of an issuer listed on the Exchange?
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
The Company will be arranging for Mr Rinaldi to attend the training courses provided by the Singapore Institute of Directors as prescribed by the Singapore Exchange Securities Trading Limited within one year from the date of his appointment as Executive Director to the Board.