ANNOUNCEMENT OF APPOINTMENT OF INDEPENDENT DIRECTOR WHO IS AN AUDIT COMMITTEE MEMBER
Date: FRI 2008 05 DEC 07:27:AM (GMT: THU 2008 04 DEC 11:27:PM)
Source: SINGEX
INDIABULLS PROPERTIES INVTRUST
Announcement of Appointment of Independent Director who is an audit committee member *
| * Asterisks denote mandatory information |
| "DISCLAIMER:- This announcement was prepared and issued by the below mentioned listed issuer to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement and is posting this announcement on SGXNET for the sole purpose of dissemination only. In the event of any queries or clarification required in respect of any matters arising from this announcement, such queries are to be made to the listed issuer directly and not to the Exchange. The Exchange shall not be liable for any losses or damages howsoever arising as a result of the circulation, publication and dissemination of this announcement." |
| Name of Announcer * | INDIABULLS PROPERTIES INVTRUST |
| Company Registration No. | 200720456G |
| Announcement submitted on behalf of | INDIABULLS PROPERTIES INVTRUST |
| Announcement is submitted with respect to * | INDIABULLS PROPERTIES INVTRUST |
| Announcement is submitted by * | Rajiv Rattan |
| Designation * | Director |
| Date & Time of Broadcast | 05-Dec-2008 07:27:12 |
| Announcement No. | 00003 |
| The details of the announcement start here ... |
| Date of Appointment * | 04-12-2008 |
| Name of Person* | Chatri Trisiripisal |
| Age * | 37 |
| Country of principal residence * | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) * | Mr Trisiripisal is a seasoned investment executive with over ten years of public equity investing experience at some of the world's top investment institutions such as Fidelity Investment and Maverick Capital. Mr Trisiripisal brings with him over a decade of investment and management experience and has helped to manage investments exceeding billions of dollars globally. He is an expert at collaborating with management teams to produce tangible economic value for shareholders, ensuring stringent corporate governance and identifying strategic initiatives to deliver outstanding performance. Mr Trisiripisal will be able to provide astute leadership to the Trustee-Manager and its investments. He is currently the Chairman and CEO of Izara Capital Management, a global investment firm with offices in New York and Singapore. Previously, he was the Managing Director at Maverick Capital which is one of the largest hedge funds in the world. Earlier, he worked as a Managing Director with JLF Asset Management. He has also worked as an Equity Associate at Fidelity Investments which is the largest mutual fund company in the world. Currently, he also serves as Chairman of The Evolve Group, which is a leading retail group with a focus on fitness. Mr Trisiripisal holds a Masters in Business Administration from Harvard Business School and a Bachelors degree from Tufts University, USA. |
| Whether appointment is executive, and if so, the area of responsibility * | | |
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The Appointment is Non-Executive
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| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Co-Chairman of the Board, Non-Executive Director and Audit Committee Member |
| Working experience and occupation(s) during the past 10 years * | | |
Chairman & CEO of Izara Capital Management a Global Investment Firm with offices in New York & Singapore since 2005.
Chairman of The Evolve Group, a leading retails group with the focus on fitness since 2008.
Managing Director of Maverick Capital, one of the largest Hedge Funds in the world from 2002 to 2005.
Managing Director of JLF Asset Management, a firm run by ex-Soros MD in 2002.
Worked as Equity Associate with Fidelity Investments from 1994-1997, Largest Mutual Fund company in the world with over $ 1 trillion in AUM.
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| Interest * in the listed issuer and its subsidiaries * | | |
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Mr Chatri is deemed to be interested in 4,200,000 units in the Trust held by a fund, “Izara Capital Management”. Mr. Chatri owns 100% of the company that manages the said fund.
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| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries * | | |
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Nil
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| Conflict of interests (including any competing business) * | | |
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Nil
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| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704(9) |
| Past (for the last 5 years) | | |
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None
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| Present | | |
Mr Trisiripisal is on the Board of following at present:
Evolve Group Pte Ltd
Izara Capital Management LLC
Izara Pte Ltd
Evolve Mixed Martial Arts Pte Ltd
Project Sunshine
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| >> Information required pursuant to Listing Rule 704(7)(h) |
Disclose the following matters concerning an appointment of director, chief executive officer, general manager or other executive officer of equivalent rank. If the answer to any questions is "yes", full details must be given.
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| (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
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| (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
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| (c) * | Whether there is any unsatisfied judgment against him? | No
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| (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
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| (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
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| (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
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| (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
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| (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
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| (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
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| (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
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| (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
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| (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
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| (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
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| 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
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| >> Information required pursuant to Listing Rule 704(7)(i) |
Disclosure applicable to the appointment of Director only.
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| Any prior experience as a director of a listed company? | No |
| If no, please provide details of any training undertaken in the roles and responsibilities of a director of a listed company. | | |
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See Footnotes.
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| Footnotes | | |
Mr Trisiripisal has received the training while at Harvard Business School and at Fidelity. He has vast experience of working with management teams of public companies through his work as a public equity investor.
Mr Trisiripisal will be briefed in his roles and responsibilities as a director of a listed company on the SGX-ST.
Note:
Deutsche Bank AG, Singapore Branch, and Merrill Lynch (Singapore) Pte. Ltd. are the Joint Issue Managers, Financial Advisers, Bookrunners and Underwriters to the Offering. DBS Bank Ltd is the Coordinator of the Public Offer.
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