Change - Announcement of Appointment::Appointment of Executive Chairman and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
LIFEBRANDZ LTD.
Securities
LIFEBRANDZ LTD. - SG1DF7000002 - 1D3
LIFEBRANDZ LTD. W240621 - SGXN94246398 - NCXW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
07-May-2024 18:08:40
Status
New
Announcement Sub Title
Appointment of Executive Chairman and Chief Executive Officer
Announcement Reference
SG240507OTHRSHOZ
Submitted By (Co./ Ind. Name)
Lim Yit Keong
Designation
Lead Independent Director
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 (the "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 Lee Khai Yinn (Tel: (65) 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Additional Details

Date Of Appointment
08/05/2024
Name Of Person
Ng Boon Hui
Age
59
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Mr. Ng Boon Hui ("Mr. Ng") was nominated by Aurico Holdings Group Pte. Ltd. ("Aurico"), a Controlling Shareholder of the Company, as the Executive Chairman and Chief Executive Officer of the Company and the proposal was submitted to the Nominating Committee and Board of Directors ("Board") for their consideration and approval.

The Board having considered the recommendation of the Nominating Committee and assessed Mr. Ng's qualification and work experience, is of the view that Mr. Ng has the requisite experience and capabilities to assume the duties and responsibilities of the Executive Chairman and Chief Executive Officer of the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive. Mr. Ng is responsible for setting the strategic direction of the Group together with the Board. He also oversees day-to-day operations, including steering the business and operations for future growth and expansion and managing the risk portfolio of the Group.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer
Professional qualifications
National University of Singapore - Bachelor of Business Administration (BBA)
Institute of Adult Learning - Advanced Certificate in Training and Assessment (ACTA)
International Coaching Foundation - Professional Certified Coach
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. Ng and his spouse, Mdm Ho Poh Khum, are deemed Controlling Shareholders of the Company by virtue of his 70% and her 27% shareholding in Aurico. They are both directors of Aurico.
Conflict of interests (including any competing business)
Nil. However, for completeness of information, Aurico Global Holdings Pte. Ltd., the Controlling Shareholder of the Company, is a major shareholder (72%) of Eighteen T Holdings Pte. Ltd. ("Eighteen T") and he is a non-executive director of Eighteen T, which is in the restaurant business. Eighteen T is used to venture into a food & beverage project but there are no current operations. Should there be any conflict of interest arise in the future, Mr. Ng will make such conflict of interest known to the Board as soon as possible so that he may recuse himself from such related discussions and/or decisions and resolutions as most appropriate.
Working experience and occupation(s) during the past 10 years
2014 to Present: Anchor of Life Training Consultants - Founder and Principal Trainer
2005 to 2014: Mindchamps Singapore - Chief Education Advisor

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
Yes. By virtue of his 70% shareholding in Aurico, Mr. Ng is deemed interested in the 728,000,000 ordinary shares of the Company held by Aurico, representing approximately 29.83% of the issued and paid up 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:
Bridge Alliance Asia Holdings Pte. Ltd. (Struck Off)
Measurex Precision (II) Pte. Ltd. (Dissolved Members Voluntary Winding Up)
Growth Direction Partners Asia Pte. Ltd. (Struck Off)
Astraltec Pte. Ltd. (Struck Off)
Astral Peptide Pte. Ltd. (Struck Off)
Singapore Family Eye Centre Pte. Ltd. (Struck Off)
Nattypetz Pte. Ltd. (Struck Off)
Ginkgo Edutech Pte. Ltd. (Struck Off)
Bacton Pte. Ltd. (Struck Off)
Droplet Foundation Pte. Ltd. (Struck Off)
JC Global Developments Pte. Ltd.
Nanotec Preventive Healthcare Pte. Ltd. (In Liquidation Creditors Voluntary Winding Up)

Other principal commitments:
Nil
Present
Directorships:
Anchor of Life Training Consultants Pte. Ltd.
Anchor of Life Venture Pte. Ltd.
Astral Ocular Pte. Ltd.
Aurico Global Holdings Pte. Ltd.
Eighteen T Holdings Pte. Ltd.
My Preschool Hub Pte. Ltd.
Barley and Roof Pte. Ltd.
Bespoke Habitat J3 Pte. Ltd.
Digital Marketing in a Box Private Limited
Skai Assets Pte. Ltd.
Skainom Pte. Ltd.

Other principal commitments:
Please refer to "Working experience and occupation(s) during the past 10 years' section above. While Mr. Ng will continue to be a principal trainer at Anchor of Life Training Consultants, he has confirmed that the time commitment is not significant and he will be able to devote his time and attention to the Group's business operations.
(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?
No
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
Mr. Ng does not have prior experience as director of a listed company in Singapore. The Company will arrange for Mr. Ng to receive mandatory training for first time directors within 1 year from his appointment date to familiarise him with the roles and responsibilities of a director of a listed company in Singapore.