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Change - Announcement Of Appointment Of Executive Director And Executive Chairman
BackNov 03, 2014
| Announcement Title | Change - Announcement of Appointment |
| Announcement Subtitle | APPOINTMENT OF EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN |
| Securities | NATURAL COOL HOLDINGS LIMITED (NATCOOL) |
| Date & Time of Broadcast | Nov 3, 2014 17:20 |
| Submitted By | Sharon Yeoh Company Secretary |
| Description | APPOINTMENT OF EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN This announcement has been prepared by the Company and its contents have been reviewed by the Company s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by 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 Mr Mark Liew, Managing Director, Corporate Finance, at 20 Cecil Street, #21-02 Equity Plaza, Singapore 049705, telephone (65) 6229 8088. |
| Appointment Details | |
| Date of appointment | Nov 3, 2014 |
| Name of person | Ang Choon Cheng ("Mr Ang") |
| Age | 49 |
| Country of principal residence | Singapore |
| The Board's comments on this appointment | Mr Ang stepped down as Executive Director of the Company and its subsidiaries of the Group on 31 October 2013 due to his voluntary undertaking to the Monetary Authority of Singapore ("MAS") not to be a company Director for a period of one year in connection with him having voluntarily entered into a civil penalty agreement with MAS relating to the regulatory actions taken against him by MAS. He was then appointed as the Group Advisor on the same date. As the voluntary undertaking expires on 31 October 2014, Mr Ang shall step down as the Group Advisor and be appointed as Executive Director and Executive Chairman of the Company. The recommendation for his appointment as Executive Director and Executive Chairman has been considered by the Nominating Committee and accepted by the Board. |
| Whether appointment is executive, and if so, the area of responsibility | Executive, he is responsible for overall operations, management, strategic planning and business development of the Group. |
| Job title | Executive Director and Executive Chairman. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr Ang is the brother of Mr Eric Ang Choon Beng, Executive Director; he is the brother-in-law of Mr Chia Puay Hwee, Executive Director; he is also the brother of Mdm Ang Siew Khim, Director of VNS Manufacturing Pte Ltd, a subsidiary of the Group. |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | October 2013 - Present Group Advisor of Natural Cool Holdings Limited September 2009 - October 2013 Chief Executive Officer of Natural Cool Holdings Limited October 2005 - July 2007 Director of Natural Cool Airconditioning & Engineering Pte Ltd March 2006 - July 2007 Managing Director of Natural Cool Airconditioning & Engineering Pte Ltd January 2005 - October 2005 Manufacturing Director of Natural Cool Airconditioning & Engineering Pte Ltd September 2002 - June 2005 Director of S-Team Engineering & Construction Pte. Ltd. |
| Shareholding interest in the listed issuer and its subsidiaries | Yes |
| Shareholding details | Direct Interest - 25,549,385 ordinary shares Deemed Interest - 3,150,001 ordinary shares |
| Other Directorships | |
| Note: 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. Gathergates Group Pte. Ltd. 2. Gathergates Switchgear Pte. Ltd. 3. Lorentz Asia Pte. Ltd. 4. Natural Cool Investments Pte. Ltd. 5. NC (Singapore) Pte. Ltd. 6. Titans Power System Pte. Ltd. 7. Natural Cool Energy Pte. Ltd. |
| Present | 1. Natural Cool Investments Pte. Ltd. |
| Information Required Persuant To Listing Rule 704(7)(H) | |
| (a) Whether at any time during the past 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 any 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? | Yes |
| If yes, please provide full details | Please refer to the announcement made on 31 October 2013. |
| (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? | Yes |
| If yes, please provide full details | Please refer to the announcement made on 31 October 2013. |
| (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 with any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | Yes |
| If yes, please provide full details | Please refer to the announcement made on 31 October 2013. |
| Information Required persuant to Listing Rule 704(7)(I) | |
| Note: Disclosure applicable to the appointment of Director only | |
| Any prior experience as a director of a listed company? | Yes |
| If yes, please provide full details | Mr Ang has been appointed as Executive Director of the Company from 30 June 2007 to 31 October 2013. |
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