Stock Code:YYB.SI
| Announcement Title | Change - Announcement of Appointment |
| Announcement Subtitle | Annoucement of Appointment of Independent Non-Executive Director (Mr Tai Kok Chuan) |
| Securities |
ELEKTROMOTIVE GROUP LIMITED (ELEKTROG) |
| Date & Time of Broadcast | May 12, 2016 18:25 |
| Submitted By |
Ricky Ang Gee Hing Executive Vice-Chairman and Managing Director |
| Description |
Appointment of Independent Director Reference is made to the announcement dated 9 March 2016 (Announcement Reference: SG160309OTHRSO33) relating to the Appointment of Independent Non-Executive Director (Mr Tai Kok Chuan). Due to an oversight by Mr Tai, the information relating to "Shareholding interest in the listed issuer and its subsidiaries" was stated as "No" when it should be read as "Yes". Mr Tai holds 300,000 ordinary shares in the listed issuer prior to his appointment as an Independent Director of the Company. This announcement supersedes the aforesaid announcement (Announcement Reference: SG160309OTHRSO33) released on 9 March 2016. This announcement has been prepared by Elektromotive Group Limited (the "Company") and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Ms Keng Yeng Pheng, Associate Director, Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088. |
| Appointment Details | |
| Date of appointment | Mar 9, 2016 |
| Name of person | Tai Kok Chuan |
| Age | 59 |
| Country of principal residence | Singapore |
| The Board's comments on this appointment | Upon the recommendation of the Nominating Committee, which had reviewed the qualifications and experience of Mr Tai Kok Chuan ("Mr Tai"), the Board of Directors approved his appointment as an Independent Director of the Company. The Board considers Mr Tai to be independent for the purposes of Rule 704(7) of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited. |
| Whether appointment is executive, and if so, the area of responsibility | No |
| Job title | Independent Director |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | No |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years |
9 Nov 2015 to present: China Medical (International) Group Limited (FKA Albedo Limited) Executive Chairman April 2005 to 9 Nov 2015: China Medical (International) Group Limited (FKA Albedo Limited) Founder and Chief Executive Officer |
| Shareholding interest in the listed issuer and its subsidiaries | Yes |
| Shareholding details | 300,000 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) | No |
| Present |
Albedo Limited Albedo Corporation Pte. Ltd. Albedo Sdn. Bhd. China iMyth Company Pte. Ltd. iMyth Taiwan Limited China iMyth (Hong Kong) Pte. Ltd. China iMyth (Shanghai) Co., Ltd. CMIC Hemodialysis Pte. Ltd. CMIC Hemodialysis (Hong Kong) Limited TQAQI International 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? | Yes |
| If yes, please provide full details | There was a case brought against one of the foreign subsidiaries incorporated in Thailand of a company listed on SGX of which I am a director of and in 2010 a bankruptcy action was brought against this subsidiary; in June 2010 this subsidiary's assets were placed under the control of the Official Receiver in Thailand and the Thai courts passed an order for the subsidiary to be bankrupt. The subsidiary's Thai legal counsel had advised that there were grounds to appeal to the Thai Supreme court on the basis that there are insufficient reasons for the court to render a judgement that the subsidiary be bankrupt. The subsidiary has in December 2014 been disposed of by the listed company. |
| (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? | Yes |
| If yes, please provide full details | I have been the subject of civil and criminal proceedings brought against me in Thailand alleging fraud, misrepresentation and dishonesty but all the cases against me have been dismissed and/or finally determined by the Thai courts to have no basis. |
| (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 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? | No |
| 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 | Director of China Medical (International) Group Limited (FKA Albedo Limited) |