Announcement Of Appointment Of Chief Executive Officer
08 February 2011
|Date of Appointment||15/02/2011|
|Name||Mr. Denis William Welch|
|Country of principal residence||Singapore|
|The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)||The Nomination Committee has, after a rigorous selection process, recommended the appointment of Mr. Welch as Chief Executive Officer. The recommendation took into consideration, inter alia, his qualifications, working experience, competencies and achievements. The Board of Directors considered that his appointment will contribute to the growth and performance of the Company and its subsidiaries and therefore approved his appointment.|
|Whether appointment is executive, and if so, area of responsibility||This is an executive appointment. Mr. Welch will assume the role of Chief Executive Officer reporting to the Board of Directors. He will be responsible for carrying out the strategies and policies as established by the Board and for the overall management, development and financial performance of the Company and its subsidiaries.|
|Job Title||Chief Executive Officer|
|Working experience and occupation(s) during the past 10 years||2008 - 2010
Chief Executive Officer
Drydocks World Southeast Asia
Singapore and Indonesia
2002 - 2008
United Kingdom and Singapore
1999 - 2002
Electro-Optics Systems Division
|Shareholding in the listed issuer and its subsidiaries||None.|
|Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries||None.|
|Conflict of interest||None.|
|Past (for the last five years)||Singapore Companies:
Drydocks World - Southeast Asia Pte. Ltd.
Labroy Marine Pte. Ltd.
Labroy Shipping Pte. Ltd.
Elastrade (Pte) Ltd.
Intone Pte. Ltd.
Yukon Marine Pte. Ltd.
Labroy Ship Services Pte. Ltd.
Grandsand Construction Pte. Ltd.
Dinar Venture Pte. Ltd.
Labroy Bulk Carriers Pte. Ltd.
Labroy Shipbuilding And Engineering Pte. Ltd.
Hylynx Pte. Ltd.
Crown Shipping Pte. Ltd.
Labroy Offshore Engineering Pte. Ltd.
Heng Huat Shipbuilding & Construction Pte. Ltd.
Tellus Engineering Construction Pte. Ltd.
Well Commercial Pte. Ltd.
Drydocks World - Singapore Pte. Ltd.
Pan-United Venture Pte. Ltd.
Advantec Shipping Pte. Ltd.
MTS Marinetech Pte. Ltd.
Tellus Marine Engineering Pte. Ltd.
Heng Huat Machinery & Engineering Pte. Ltd.
Tellus Offshore Industries Pte. Ltd.
Tellus Shipbuilding And Repair Services Pte. Ltd.
Tellus Oceanic Pro Pte. Ltd.
Fa Lodge Property Management Pte. Ltd.
Fame Engineering Pte. Ltd.
Datum Pointt Holdings Pte. Ltd.
Datum Pointt Pte. Ltd.
Kleans Corporation Pte. Ltd.
Kmech Corporation Pte. Ltd.
PT. Nanindah Mutiara Shipyard
PT. Graha Trisaka Industri
PT. Segara Gloria Anugrah Marine
PT. Drydocks World Pertama
Labroy Offshore Ltd.
|Present||One World Maritime Pte. Ltd.|
|Information required pursuant to Listing Rule 704(7)(h)|
|a.||Whether at any time during the last 10 years, a petition under any bankruptcy laws of any jurisdiction was filed against him or against a partnership of which he was a partner?||No|
|b.||Whether at any time during the last 10 years a petition under any law of any jurisdiction was filed against a corporation of which he was a director or key executive for the winding up of that corporation on the ground of insolvency?||No|
|c.||Whether there is any unsatisfied judgement 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 for 3 months or more, or has been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) 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 been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such breach?||No|
|f.||Whether at any time during the last 10 years, judgement 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, misinterpretation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings which he is aware of involving an allegation of fraud, misinterpretation 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 corporation?||No|
|h.||Whether he has ever been disqualified from acting as a director of any corporation, or from taking part directly or indirectly in the management of any corporation?||No|
|i.||Whether he has ever been the subject of any order, judgement 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,||No|
|in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust?|
|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|
|Information required pursuant to Listing Rule 704(7)(i)|
|Any prior experience as a director of a listed company?|
|Footnotes||Mr. Welch will commence his role as Chief Executive Officer on 15 February 2011 and will be based in Thailand. The Executive Committee will continue to oversee and report to the Board of Directors on matters related to the business of the Company and its subsidiaries in the interim.|