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

Issuer & Securities

Issuer/ Manager
17LIVE GROUP LIMITED
Securities
17LIVE GROUP LIMITED - KYG9481M1298 - VT1
17LIVE GROUP LIMITED W281207 - KYG9481M1116 - VT2W
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
08-Dec-2023 07:09:19
Status
New
Announcement Sub Title
Appointment of Non-Executive Director
Announcement Reference
SG231208OTHRFDK7
Submitted By (Co./ Ind. Name)
Eunice Hooi
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Appointment of Non-Executive Director in connection with the business combination between Vertex Technology Acquisition Corporation Ltd. and 17LIVE Inc..

DBS Bank Ltd. acted as the sole issue manager for the business combination of Vertex Technology Acquisition Corporation Ltd with 17LIVE Inc..

Additional Details

Date Of Appointment
07/12/2023
Name Of Person
Akio Tanaka
Age
53
Country Of Principal Residence
Taiwan, Province Of China
The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
Upon the recommendation of the Nominating Committee which had reviewed the qualifications and experience of Akio Tanaka as set out below, the Board of Directors has approved the appointment of Akio Tanaka as a Non-Executive Director of the Company.

This appointment had also been approved by shareholders at the Extraordinary General Meeting held on 1 December 2023.
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 Director
Professional qualifications
Master's degree and a bachelor's degree, both in arts, from the University of British Columbia, Canada.
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
Mr Tanaka holds 100% of the shareholding interest in Growth Tree Ltd, which holds 100% of the shareholding interest of Infinity e.ventures Asia III (GP), Ltd.. Infinity e.ventures Asia III (GP), Ltd. is the general partner of Infinity e.Ventures Asia III L.P., which is a substantial shareholder of the resulting issuer.

Mr Tanaka holds 100% of the shareholding interest in IVP Advisory Co., Ltd., which holds 1% of the shareholding interest in Infinity e.Ventures Asia III L.P., which is a substantial shareholder of the resulting issuer.
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
Mr Tanaka has served as 17LIVE Inc.'s director since March 2017. Mr Tanaka is also serving as an executive director of 14 companies and a non-executive director of 20 companies. Mr Tanaka is the co-founder and managing partner of Headline Asia (formerly known as Infinity Venture Partners LLP) since 2008.

Mr Tanaka invests and co-founds early stage ventures in Asia, specialising in internet companies. Mr Tanaka was formerly the director of emerging market investments and corporate development for Adobe Systems Inc and was responsible for the company's international investment programme with a focus on emerging markets in Asia covering digital media and entertainment sectors.
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
Infinity e.Ventures Asia III, LP. will hold 19,453,132 ordinary shares in the capital of the listed issuer post-completion of the business combination transaction. 1% of Infinity e.Ventures Asia III, LP. is held by IVP Advisory Co., Ltd., which is wholly-owned by Mr Tanaka.

Infinity e.Ventures Asia III (GP), Ltd. is the general partner of Infinity e.Ventures Asia III L.P. and has authority to exercise control of the disposal over the shares held by Infinity e.Ventures Asia III L.P. pursuant to the limited partnership agreement.

Infinity e.Ventures Asia III (GP), Ltd. is wholly-owned by Growth Tree Ltd, which is wholly-owned by Mr Tanaka. Accordingly, Mr Tanaka is deemed to be interested in the shares held by Infinity e.Ventures Asia III, L.P. by virtue of Section 4 of the Securities and Futures Act 2001.
# 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)
- IVP Fund B (GP), Ltd.
- CreatingEV Inc.
- Eyeota Holdings Pte. Ltd.
- Dolphin Browser K.K.
- Spider Labs, Ltd
Present
- LaunchPadFund 2 K.K.
- TGAL Inc.
- IVC II G.P.
- Headline Asia V (GP), Ltd
- IVC Advisory Co. Ltd.
- JPYC, Inc.
- Zaiko Pte. Ltd.
- LaunchPadFund K.K.
- Nudge Inc.
- Luca Japan Co., Ltd.
- Luca Co., Ltd.
- Xen Technologies Pte. Ltd.
- IVC Kartal, G.P.
- IVC Timsah, G.P.
- Infinity Ventures Crypto, G.P.
- Daqi, Inc.
- International Compliance Workshop (BVI) Ltd
- Yeahka Ltd.
- Rekoo Media Limited
- Openlogi Inc
- Buyandship Holdings Limited
- Infinity Ventures IV (GP), Ltd.
- Alfred24 Holdings Limited (formerly known as Pakpobox)
- KKVideo Limited
- Inteluck Corporation Philippines
- Shanghai Yiku Information Technology Co. Ltd.
- Infinity e.ventures Asia III (GP), Ltd.
- Pinkoi Inc.
- Unearby Ltd.(Say Hi Ltd.)
- IVP Fund II B (GP), Ltd.
- IVP Advisory Co. Ltd
- IVP Fund II A (GP), Ltd.
- Growth Tree Ltd
(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 Tanaka will be attending training on the roles and responsibilities of a listed issuer as prescribed by the Exchange.
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)
Not applicable