CHANGE – ANNOUNCEMENT OF APPOINTMENT : APPOINTMENT OF NON-INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD
| Announcement Title | Change – Announcement of Appointment |
| Date & Time of Broadcast | 31-Dec-2024 12:56:59 |
| Status | New |
| Announcement Sub Title | Appointment of Non-Independent Non-Executive Director and Chairman of the Board |
| Announcement Reference | SG241231OTHRJPIV |
| Submitted By (Co./ Ind. Name) | Gwee Chee Kiang |
| Designation | Group Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Non-Independent Non-Executive Director and Chairman of the Board. |
Additional Details
Date Of Appointment
31/12/2024
Name Of Person
Ang Yu Seng
Age
68
Country Of Principal Residence
Singapore
The Board’s comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process)
The Board, having considered the recommendation of the Nominating Committee and assessed Mr. Ang Yu Seng qualification and experience, is of the view that he has the requisite experience and capability to assume the duties and responsibilities of a Non-Independent Non-Executive Director and Chairman of the Board.
Whether appointment is executive, and if so, the area of responsibility
Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent Non-Executive Director and Chairman of the Board
Professional qualifications
Not applicable
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
Father of Mr. Ang Jun Long (Executive Director).
Conflict of interests (including any competing business)
No
Working experience and occupation(s) during the past 10 years
Mr. Ang Yu Seng is prominent in Singapore’s metal recycling and steel trading industry, with over 40 years of experience. He is the co-founder of Union Steel Holdings Limited and was appointed as Executive Chairman and Chief Executive Officer on 12 August 2004. Under his leadership, Union Steel has expanded its operations and diversified its services, reinforcing its position as a key player in the metal recycling and steel trading sectors and a significant player in Singapore’s offshore and marine engineering market.
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
Mr. Ang Yu Seng (“Mr. Ang”) is a director and major shareholder of Union Steel Holdings. Ltd. (“Union”). Union has approximately 29.4% shareholding interest in the Company. By virtue of Mr. Ang’s 34.85% shareholding interest in Union, he is deemed interested in the 680,000,000 shares held by Union under Section 7 of the Companies Act 1967 and Section 4 of the Securities and Futures Act 2001.
# 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
Union Steel Holdings Limited and all its subsidiaries.
(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?
Yes
If Yes, Please provide details of prior experience
Co-Founder, Executive Chairman, and Chief Executive Officer of Union Steel Holdings Limited