Change - Announcement of Appointment::Re-designation of Non-Executive Non-Independent Director as Executive Director and CEO

Issuer & Securities

Issuer/ Manager: TRICKLESTAR LIMITED
Securities: TRICKLESTAR LIMITED - SGXE45760753 - CYW
Stapled Security: No

Announcement Details

Announcement Title: Change - Announcement of Appointment
Date &Time of Broadcast: 08-Dec-2021 17:23:15
Status: New
Announcement Sub Title: Re-designation of Non-Executive Non-Independent Director as Executive Director and CEO
Announcement Reference: SG211208OTHRSIJU
Submitted By (Co./ Ind. Name): Bernard Christopher Emby
Designation: Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below): Re-designation of Non-Executive Non-Independent Director as Executive Director and Chief Operating Officer

TrickleStar Limited (the "Company") was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "Exchange") on 18 June 2019. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor").

This announcement has been reviewed by the Company's Sponsor. It has not been examined or approved by the Exchange and the Exchange 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.Shervyn Essex, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Date Of Appointment: 01/01/2022
Name Of Person: Gunananthan Nithyanantham
Age: 53
Country Of Principal Residence: Malaysia
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process): The re-designation of Mr Gunananthan Nithyanantham as Executive Director and Chief Operating Officer was reviewed and recommended by Nominating Committee upon request of the Board. The Board has approved the re-designation as recommended by Nominating Committee, to assume the position of assisting the Company in navigating the current difficult market conditions and taking into account his technical knowledge and experience to assist the Company in driving its business capabilities and initiatives.
Whether appointment is executive, and if so, the area of responsibility: Executive. As Chief Operating Officer, Mr Gunananthan Nithyanantham will be responsible for overseeing commercial operations, logistics, finance, accounting and secretarial functions of the Company and its subsidiaries.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.): Executive Director and Chief Operating Officer
Professional qualifications: 1) 1992 - Bachelor of Science, Liberal Arts, Mount Union College
2) 1993 - Master of Science, Yale University
3) 1994 - Master of Business Administration, Bowling Green State 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: Nil
Conflict of interests (including any competing business): Nil
Working experience and occupation(s) during the past 10 years: From January 2012 to December 2017, Mr Gunananthan Nithyanantham joined TrickleStar as finance director of TrickleStar HK, where he was responsible for overseeing the finances, logistics control and administrative activities of TrickleStar HK.
In January 2015, Mr Gunananthan Nithyanantham became an executive director of both Zernet Limited (associate of the controlling shareholder of the Company) and CircleBright Limited (controlling shareholder of the Company), where he was responsible for monitoring the strategic direction and overseeing the use of funds of the respective companies. In January 2018, he became the chief executive officer of both Zernet Limited and CircleBright Limited, where he is responsible for managing the overall operations and resources of Zernet Limited and is responsible for overseeing and evaluating investment opportunities for CircleBright 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?: Yes
Shareholding Details: Direct Interest of 4,643,578 shares
Deemed Interest of 23,420,097 shares
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# 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. TrickleStar Inc.
2. TouchGrid PLT
3. Bluglobe PLT
4. Zernet Malaysia PLT
5. Service Rocket Sdn Bhd
6. Serial Cellars Sdn Bhd
7. Openpath Education Sdn Bhd
8. Alligator Ventures Sdn Bhd
9. Atque Ventures Sdn Bhd
10. Elephant Ventures Sdn. Bhd
11. Emby Properties Sdn Bhd
12. Incube8 Venture One Sdn Bhd
13. Axxis Consulting (M) Sdn Bhd
14. Serial Cellars Retails Sdn Bhd
Present: 1. TrickleStar Limited, Singapore
2. TrickleStar Limited, Hong Kong
3. TrickleStar (M) Sdn Bhd
4. CircleBright Limited
5. Zernet Limited
6. Zernet (M) Sdn Bhd
7. Ozuno Trading Pty Ltd
8. Navigos Corporation Sdn Bhd
(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?: Yes
If Yes, Please provide full details: 1. Malaysian Street Sdn Bhd: This was dissolved in 2002 after it was decided to close down the business.
2. SmartTransact Sdn Bhd was renamed to Ngom Systems Sdn Bhd prior to being wound up.
3. TouchGrid PLT and Bluglobe International PLT have been wound up in 2021 via member's voluntary winding up.
(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
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of an issuer listed on the Exchange?: Yes
If Yes, Please provide details of prior experience: Yes. Mr Gunanathan Nithyanantham has been a Director of TrickleStar Limited since its IPO in June 2019. Before that, he did not have prior experience as a director of public listed companies in Singapore. He has attended the relevant training at the Singapore Institute of Directors to familiarise himself with the roles and responsibilities of a director of a public listed company in Singapore.
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): TrickleStar Limited since June 2019.

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