| Announcement Title | Change - Announcement of Appointment |
| Announcement Subtitle | Appointment of Mr Teo Cheng Kwee as a Non-Executive Director of the Company |
| Securities | CEDAR STRATEGIC HOLDINGS LTD (CEDAR) |
| Date & Time of Broadcast | Jul 21, 2015 22:36 |
| Submitted By | Ong Beng Hong Company Secretary |
| Description | This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Stamford Corporate Services Pte Ltd, for compliance with the relevant rules of the SGX-ST. The Company's 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 Company's Sponsor is Mr Ng Joo Khin Telephone number: 6389 3000 Email: jookhin.ng@stamfordlaw.com.sg |
| Appointment Details | |
| Date of appointment | Jul 21, 2015 |
| Name of person | Teo Cheng Kwee |
| Age | 63 |
| Country of principal residence | Singapore |
| The Board's comments on this appointment | Mr Teo Cheng Kwee is the founder and a Non-Executive and Non-Independent Director of Sapphire Corporation Limited ("Sapphire"). During his term as a director in Sapphire, he was responsible for charting its direction and has led a series of successful acquisitions that enhanced the value of Sapphire. Mr Teo brings with him more than 30 years of experience in the building and construction industry and his vast experience as a director and acute business acumen would add value to the Company going forward. The Board has approved the appointment of Mr Teo Cheng Kwee as a director of the Company after taking into account of his working experience and ability to contribute to the Group. The Board is of the view that his appointment would be beneficial to the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job title | Non-Executive Director |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Conflict of interests (including any competing business) | None |
| Working experience and occupation(s) during the past 10 years | Group Managing Director & Chief Executive Officer of Sapphire Corporation Limited (2006 - 2013) |
| Shareholding interest in the listed issuer and its subsidiaries | Yes |
| Shareholding details | Yes, Mr Teo Cheng Kwee has invested S$1,100,000 in the Company pursuant to an Investment Agreement signed on 3 July 2015. Under the terms of Investment Agreement, the Company shall repay such loan by issuing 500,000,000 ordinary shares at S$0.0022 for each share. (Announcement Reference: SG150703OTHRSNX6) The allotment and issue of the ordinary shares to Mr Teo is conditional upon the approval of the shareholders of the Company. |
| 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) | China Vanadium Titano-Magnetite Mining Company Limited Celbuild Private Limited Chemplas (F.E.) Pte Limited Comet Renovation & Construction Pte Ltd. Hai Kang Trading Pte Ltd. Industrial Resources Enterprise Pte. Ltd. UIrich Meyer Pte Ltd. Resource Builders Pte Ltd. |
| Present | Sapphire Corporation Limited Carindale Sheng-Shing Construction 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? | 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 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 | Sapphire Corporation Limited |