| Date Of Appointment | 23/04/2015 |
| Name Of Person | TAY LEE CHYE LESTER |
| Age | 41 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | The Nominating Committee had considered Mr. Lester Tay's track record, age, working experiences, capabilities and other relevant factors for the appointment as Lead Independent Director of the Company and recommended to the Board of Directors (the "Board") his appointment as Lead Independent Director.
Upon the Nominating Committee s recommendation, the Board has approved Mr. Lester Tay's appointment as Lead Independent Director.
|
| Whether appointment is executive, and if so, the area of responsibility | Non-Executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Lead Independent Director, Audit Committee Chairman, Nominating Committee Member and Remuneration Committee Member |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | 2007 to present - Chief Executive Officer of Rockstead Capital Group
2004 to 2007 - Chief Financial Officer of Asia Water Technology Ltd.
|
| 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) | Chabridge Technology Pte. Ltd.
Forest Property Investment Pte. Ltd.
Grand Investment Fund Pte. Ltd.
Grandeur Associates & Co Pte. Ltd.
Leibo Mingzhu Clean Energy Pte. Ltd.
Union Linker International Investment Pte. Ltd.
United Power Technology Pte. Ltd.
WH-Water Investment Pte. Ltd.
|
| Present | Rockstead Capital Private Limited
1Rockstead GIP Fund II Pte. Ltd.
1Rockstead GIP Fund Ltd.
Rockstead Venture Ltd
Rockstead Capital Private Limited
RS Asset Management Pte. Ltd.
Grand INVSMT Ltd
Peinture Singapore Pte. Ltd.
Yokeshire International Limited |
| (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 |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | Yes |
| If Yes, Please provide full details | He was the Director of WH-Water Investment Pte. Ltd., (who was then a non-substantial shareholder of Asia Water Technology Ltd ("AWTL")) and assisted in its investigation in relation to WH-Water's shares in AWTL. MAS has informed that the investigation is completed and that nothing has come to their attention. |
| (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? | Yes |
| If Yes, Please provide full details | He was issued warning by MAS for delay to inform and declare as Substantial Shareholder of Asia Power Corporation Ltd within the required 48 hours timeframe, in August 2008. |
| Any prior experience as a director of a listed company? | Yes |
| If Yes, Please provide details of prior experience | Director of ASX-Listed - Rockstead Financial Services Ltd. (RKS-ASX) in 2009. |
