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

Issuer & Securities

Issuer/ Manager
PINE CAPITAL GROUP LIMITED
Securities
PINE CAPITAL GROUP LIMITED - SG1AA8000008 - ADJ
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
12-Feb-2018 18:45:47
Status
New
Announcement Sub Title
Appointment of Non-Executive Non-Independent Director
Announcement Reference
SG180212OTHRDMHZ
Submitted By (Co./ Ind. Name)
Philip Wong Yee Teng
Designation
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Executive Non-Independent Director

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, Asian Corporate Advisors Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Sponsor has not independently verified the contents of this announcement, including the correctness of any of the figures used, statements or opinions made.

This announcement has not been examined or approved by the Exchange and the Exchange 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 Mr Liau H.K.
Telephone number: 6221 0271

Additional Details

Date Of Appointment
12/02/2018
Name Of Person
Pan Ki Ro
Age
67
Country Of Principal Residence
Korea, Republic Of
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee and the Board, having reviewed, considered, assessed and concluded that Mr Pan Ki Ro ("Mr Pan") possesses the requisite qualifications and work experiences.

In 2003, Mr Pan was appointed as Chief Financial Officer for Korean Development Bank ("KDB"). He has worked in KDB since 1973.

In 2005, Mr Pan held the position as a CEO for Korea Infrastructure Investments Asset Management Co ("KIAMCO").

From 2013 to 2017, he was the CEO for Pheonix Asset Management Inc, which changed name to Pine Asia Asset Management Inc ("PAAM") in 2015.

With his extensive experiences as a senior employee in the above companies, Mr Pan will be able to carry out his duties as a Non-Executive Non-Independent 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 Non-Independent Director
Member of the Audit Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Conflict of interests (including any competing business)
NIL
Working experience and occupation(s) during the past 10 years
April 2015 - April 2017
Pine Asia Asset Management Inc.
Chief Executive Officer

March 2013 - April 2015
Phoenix Asset Management Inc.
Chief Executive Officer

July 2011 - February 2013
Phoenix Asset Management Inc.
Auditor (Non-Standing)

June 2005 - May 2009
Korea Infrastructure Investments Asset Management Co.
Chief Executive Officer and President
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?
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)
April 2015 - April 2017
Pine Asia Asset Management Inc. (S.Korea)
Chief Executive Officer and Executive Director

March 2013 - April 2015
Phoenix Asset Management Inc (S.Korea)
Chief Executive Officer and Executive Director

April 2015 - April 2016
Ecoenergy Holdings Co., Ltd (S.Korea)
Non-standing Director

April 2010 - March 2013
Kumho Petrochemical Co., Ltd. (S.Korea)
Non-standing Director
Present
24 April 2017
PKR Investment Services Incorporation (S.Korea)
Director
(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 a listed company?
Yes
If Yes, Please provide details of prior experience
April 2015 - April 2016
Ecoenergy Holdings Co., Ltd. (KOSDAQ)
Non-standing Director

April 2010 - March 2013
Kumho Petrochemical Co., Ltd. (KOSPI)
Non-standing Director

The Company will arrange for Mr Pan to attend training courses to familiarise himself with the rules and responsibilities as a director of a public listed company in Singapore.