| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Oct 30, 2020 17:30 |
| Status | New |
| Announcement Sub Title | Appointment of Chief Executive Officer - Mr Yap Kok Cheng |
| Announcement Reference | SG201030OTHRO6I1 |
| Submitted By (Co./ Ind. Name) | Kenny Yap Kim Lee |
| Designation | Executive Chairman and Managing Director |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Chief Executive Officer ("CEO") - Mr Yap Kok Cheng |
| Additional Details | |
| Date Of Appointment | 01/01/2021 |
| Name Of Person | Yap Kok Cheng |
| Age | 42 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | Mr Yap Kok Cheng first joined the Group in January 2005 as a management trainee when he was posted to Beijing to manage the Group's operations and business development initiatives in Northern China. In 2016, Mr Yap Kok Cheng was promoted to General Manager, China Operations, where he provided oversight of the Group's operations in China, including developing its new aquaculture segment in Hainan. After considering Mr Yap Kok Cheng's exposure and hands-on experience in the Group's operations, the Nominating Committee ("NC") is of the opinion that Mr Yap Kok Cheng has the requisite experience and capability to assume the roles and responsibilities of CEO of the Company. The appointment of Mr Yap Kok Cheng as CEO of the Company based on NC's recommendation has been approved by the Board of Directors. |
| Whether appointment is executive, and if so, the area of responsibility | The appointment is executive. Upon appointed as CEO, Mr Yap Kok Cheng will report directly to the Board of the Company. He will hold executive and management responsibilities and duties in relation to the operations of the Company and the Group, as well as the development and expansion of business as the Board may reasonably direct. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Chief Executive Officer |
| Professional qualifications | Mr Yap Kok Cheng holds a Bachelor of Commerce degree from the University of New South Wales, majoring in Finance and Economics. |
| 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 | Mr Yap Kok Cheng is the nephew of Mr Kenny Yap Kim Lee (Executive Chairman and Managing Director and a substantial shareholder of the Company) and Mr Alvin Yap Ah Seng (Executive Director and a substantial shareholder of the Company) and the son of Mr Yap Hock Huat (a substantial shareholder of the Company). |
| Conflict of interests (including any competing business) | No |
| Working experience and occupation(s) during the past 10 years | Mr Yap Kok Cheng first joined the Group in January 2005 as a management trainee when he was posted to Beijing to manage the Group's operations and business development initiatives in Northern China. In 2016, Mr Yap Kok Cheng was promoted to General Manager, China Operations, where he provided oversight of the Group's operations in China, including developing its new aquaculture segment in Hainan. |
| 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? | Yes |
| Shareholding Details | Direct interest - Nil Deemed interest through spouse - 75,250 ordinary shares |
| # 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 | Nil |
| (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 | Not applicable. This is appointment of CEO. |