News
Change - Announcement Of Appointment Of Non-Executive Non-Independent Director
Apr 14, 2025
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Apr 14, 2025 18:41 |
| Status | New |
| Announcement Sub Title | Appointment of Non-Executive Non-Independent Director |
| Announcement Reference | SG250414OTHRGF22 |
| Submitted By (Co./ Ind. Name) | Ng Boon Hui |
| Designation | Executive Chairman and Chief Executive Officer |
| 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 ("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 Lim Qi Fang (Tel: (65) 6232 3210), at 1 Robinson Road, #21-01 AIA Tower, Singapore 048542. |
| Additional Details | |
| Date Of Appointment | 15/04/2025 |
| Name Of Person | Seah Kah Boon, Desmond |
| Age | 41 |
| 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) | The Board having considered the recommendation of the Nominating and Remuneration Committee and assessed Mr. Seah Kah Boon, Desmond's qualification and work experience, is of the view that Mr. Seah Kah Boon, Desmond has the requisite experience and capabilities to assume the duties and responsibilities of the 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 and member of Audit Committee |
| Professional qualifications | Bachelor of Science (Honours) in Business Computing, University of Bradford (UK) |
| 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. 1. Mr. Seah Kah Boon, Desmond is a director and 20% equity shareholder of Viking Saga Pte. Ltd. ("Viking Saga"). Viking Saga had entered into an interest-bearing convertible loan amounting to S$700,000 with Aurico Gobal Holdings Pte. Ltd. ("Aurico"), the Controlling Shareholder of the Company, with a maturity of 36 months, due in August 2026. Based on the terms of the convertible loan, no conversion events have occurred to date, and any potential conversion will not result in Viking Saga becoming a substantial shareholder of Aurico. 2. Mr. Seah Kah Boon, Desmond is a director of Viking Capital VCC where (i) Mr. Patrick Loke Pak Hoe ("Mr. Loke"), the Executive Director and Head of Corporate Development of the Company, is a fellow non-executive director; and (ii) Mr. Loke, a founder and managing director of PTL Capital Pte. Ltd., is the technical advisor to the Ascend Growth Sub-Fund under Viking Capital VCC. |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years | Jan 2023 to present: Gryphon Consultancy Pte. Ltd. - Director Jan 2023 to present: Viking Saga Pte. Ltd. - Director Feb 2016 to Dec 2022: Flysky Services Inc (Philippines) - Corporate Administrative Director and Consultant Oct 2013 to Jan 2016: Delphi Automotive Systems Singapore Pte Ltd - Associate Supervisor |
| 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) | Directorships: Nil Other principal commitments: Please refer to "Working experience and occupation(s) during the past 10 years" section above. |
| Present | Directorships: Viking Saga Pte. Ltd. Gryphon Consultancy Pte. Ltd. Other principal commitments: Please refer to "Working experience and occupation(s) during the past 10 years" section above. |
| (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. Seah Kah Boon, Desmond does not have prior experience as director of a listed company in Singapore. The Company will make arrangements for Mr. Seah Kah Boon, Desmond to attend the requisite training on the roles and responsibilities of a director of a listed company as prescribed by the SGX-ST within 1 year from his appointment date. |