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| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Apr 29, 2022 17:50 |
| Status | New |
| Announcement Sub Title | APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR |
| Announcement Reference | SG220429OTHR48PK |
| Submitted By (Co./ Ind. Name) | Ren Letian |
| Designation | Executive Chairman and Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Mr Yee Kee Shian, Leon as Independent Non-Executive Director. |
| Additional Details | |
| Date Of Appointment | 01/05/2022 |
| Name Of Person | Yee Kee Shian, Leon |
| Age | 46 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Board of Directors of the Company has reviewed and considered the qualifications and experience of Mr Yee Kee Shian, Leon and upon the recommendation of the Nominating Committee, has approved the appointment of Mr Yee Kee Shian, Leon as 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.) | Independent Director, Member of AC, Member of RC and Member of NC |
| Professional qualifications | - Advocate &Solicitor of the Supreme Court of Singapore - Solicitor of England and Wales |
| 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 | None |
| Conflict of interests (including any competing business) | None |
| Working experience and occupation(s) during the past 10 years | March 2017 to Present: Chairman of Duane Morris & Selvam LLP April 2013 to Present: Managing Director of Duane Morris & Selvam LLP and Selvam LLC January 2011 to April 2013: Director with Duane Morris & Selvam LLP January 2007 to April 2013: Director with Selvam LLC |
| 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) | Cambridge Alliance China Group Pte. Ltd. Knightsbridge Fund No. 1 Pte. Ltd. Knightsbridge Fund No. 2 Pte. Ltd. Cambridge RE Assets Fund No. 1 Pte. Ltd. Cambridge RE Assets Fund No. 2 Pte. Ltd. Cambridge RE Assets Fund No. 3 Pte. Ltd. Cambridge RE Assets Fund No. 4 Pte. Ltd. Cambridge RE Assets Fund No. 5 Pte. Ltd. Cambridge RE Assets Fund No. 6 Pte. Ltd. Cambridge RE Assets Fund No. 7 Pte. Ltd. Cambridge RE Assets Fund No. 8 Pte. Ltd. Cambridge RE Assets Fund No. 9 Pte. Ltd. Cambridge RE Assets Fund No. 10 Pte. Ltd. Cambridge RE Assets Fund No. 11 Pte. Ltd. Krystal Titan Pte. Ltd. Rabbit Colors Pte. Ltd Sweet Orchid Pte. Ltd. Purple Sunshine Pte. Ltd. Yellow Lullaby Pte. Ltd. Pentagon Football Centre Pte. Ltd. Pacific Star Development Limited (F.K.A LH Group Limited) Cambridge Alliance Realtor Pte. Ltd. Cambridge Alliance Global Holdings Pte. Ltd. Federal International (2000) Ltd The Knightsbridge Group Pte Ltd. Knightsbridge Auto Pte Ltd Laura Ashley Holdings Plc |
| Present | Selvam LLC F J Benjamin Holdings Ltd Cambridge Alliance Capital Pte. Ltd. Cambridge Alliance Fund No. 1. Pte. Ltd. Christ's College, Cambridge Fund (Singapore) Limited Ladderman Limited Ladderman (HK) Limited Caelius Pte. Ltd. Char Yong (Dabu) Foundation Limited St. Joseph's Institution Foundation For the Lasallian Mission Ltd. LNH Logistics Limited Yangzijiang Financial Holding 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? | Yes |
| If Yes, Please provide full details | The relevant entity is Laura Ashley Holdings Plc (the "Company"). Mr Yee Kee Shian, Leon stepped down as a Director of the Company on 16 March 2020. The Company subsequently appointed PricewaterhouseCoopers as administrators on 23 March 2020. This was due to the COVID-19 outbreak, which had an immediate and significant impact on trading of the Company and its subsidiaries (the "Group"). Based on the Group's cashflow forecasts and the increased uncertainty, the Group expected that it would not be in a position to draw down additional funding in a timely manner sufficient to support its working capital requirements, and therefore the Company appointed administrators. The Company moved into creditors voluntary liquidation with the appointment of a voluntary liquidator on 31 March 2021. |
| (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? | Yes |
| If Yes, Please provide details of prior experience | Current Listed Company Directorship: F J Benjamin Holdings Ltd LHN Logistic Limited Yangzijiang Financial Holding Ltd. Previous Listed Company Directorships: Federal International (2000) Ltd Pacific Star Development Limited Laura Ashley Holdings Plc |
| 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) | N/A |