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Change - Announcement Of Appointment Of Board Chairman
BackOct 09, 2014
| Announcement Title | Change - Announcement of Appointment |
| Announcement Subtitle | APPOINTMENT OF BOARD CHAIRMAN |
| Securities | KARIN TECHNOLOGY HLDGS LIMITED (KARIN) |
| Date & Time of Broadcast | Oct 9, 2014 17:36 |
| Submitted By | Wong Chi Cheung, Clarence Financial Controller / Joint Company Secretary |
| Description | The Board of Directors of Karin Technology Holdings Limited (the "Company" or the "Group") wishes to announce the appointment of its existing Chief Executive Officer and Executive Director, Mr. Ng Kin Wing, Raymond as Chairman of the Board effective from 9 October 2014 in place of Mr. Ng Yuk Wing, Philip who has been designated as Senior Executive Director of the Company. The composition of the Board of Directors after the change of Chairman of the Board, is as follow: Ng Kin Wing, Raymond - Executive Chairman, Chief Executive Officer and Executive Director Ng Yuk Wing, Philip - Senior Executive Director Lee Yiu Chung, Eugene - Chief Operating Officer and Executive Director Ng Tung Sang - Independent Director, Chairman of Nominating Committee ("NC") and a member of the Audit and Risk Management Committee ("ARMC") and Remuneration Committee ("RC") Lim Yew Kong, John - Independent Director, Chairman of ARMC and a member of NC and RC Lawrence Kwan - Independent Director, Chairman of RC and a member of ARMC and NC There is no change to the composition of the ARMC, NC and RC. |
| Appointment Details | |
| Date of appointment | Oct 9, 2014 |
| Name of person | Ng Kin Wing, Raymond |
| Age | 64 |
| Country of principal residence | Hong Kong |
| The Board's comments on this appointment | The Board has approved the appointment of Mr. Ng Kin Wing, Raymond as Chairman of the Board as he is the best candidate with the necessary experience and leadership to take the role of Chairman. Mr. Ng Kin Wing, Raymond is one of the founders of the Group. The appointment was a Board succession plan for Chairman. |
| Whether appointment is executive, and if so, the area of responsibility | The appointment is executive. As Chairman of the Board, Mr. Ng Kin Wing, Raymond is responsible for overseeing the overall management and strategic planning and business development of the Group. He is also responsible for the effective working of the Board. |
| Job title | Executive Chairman and Chief Executive Officer |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Mr. Ng Kin Wing, Raymond is a brother of Mr. Ng Yuk Wing, Philip and Mr. Ng Kam Wing, Allan, Executive Chairman and Chief Technology Officer of the Group respectively. |
| Conflict of interests (including any competing business) | NIL |
| Working experience and occupation(s) during the past 10 years | Mr. Ng Kin Wing, Raymond is one of the founders of the Group since 1977. He was appointed as a Director on 5 September 2002. |
| Shareholding interest in the listed issuer and its subsidiaries | Yes |
| Shareholding details | Mr. Ng Kin Wing, Raymond is deemed to be interested in 70,639,950 ordinary shares held by Kikki Investment Ltd as Kikki Investment Ltd is the trustee of the Kiki Holdings Unit Trust, all units of which are held by discretionary trust known as SUELO Trust whose discretionary objects are Ng Kin Wing, Raymond's immediate family members. |
| 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) | NIL |
| Present | Karin (Holdings) 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 | Karin Technology Holdings Limited |