お知らせ • Jan 03
Bromat Holdings Ltd. Announces Appointment of Frank Liu Tao as Non-Executive and Non-Independent Director, Effective January 6, 2025
The Nominating Committee and the Board of Bromat Holdings Ltd. have reviewed and considered the following: (i) the qualifications and experience of Mr. Frank Liu Tao, and are of the view that Mr. Frank Liu Tao has the requisite experience and capability to contribute effectively in the Company; (ii) pursuant to the loan agreement announced on 16 November 2024, as part of the special condition, Mr. Frank Liu Tao will be appointed as the Non-Executive and Non-Independent Director of the Company. Mr. Frank Liu Tao, as at the date of this announcement has extended in aggregate S$400,000 to the Company; (iii) Mr. Frank Liu Tao's expected contribution to the Company in terms of business contacts for the Group to explore potential business opportunities in China and provide funding or introduce potential investors to the Group; and (iv) based on the due diligence conducted by the Sponsor of the Company and the statutory declaration provided by Mr. Frank Liu Tao, there are no adverse findings to doubt his suitability to be a director of the Company. Accordingly, the Nominating Committee and the Board of the Company have approved the appointment of Mr. Frank Liu Tao as a Non-Executive Director of the Company. Job Title: Non-Executive and Non-Independent Director. Working Experience: 2000 - present, Chairman of Gao Sheng Investment Company Ltd. Conflict Of Interest: Mr. Frank Liu Tao is the legal representative and executive director of Shanghai Wuzhao Catering Management Co Ltd. which is in the catering and food and beverage business in China. Currently, the said entity is dormant. He is also the legal representative and executive director of Shanghai Qibajiu Network Technology Co Ltd. which is currently involved in the internet service business in China. Previously, Qibajiu was in the F&B business. Where any situation of actual or potential conflict of interest arises, Mr. Frank Liu Tao will disclose the nature of the conflict and notify the Board promptly. He will also recuse himself from the relevant discussion and decision making. Further, Mr. Frank Liu Tao has executed a non-compete undertaking ("Non-Compete Undertaking"). Pursuant to the Non-Compete Undertaking, he has irrevocably and unconditionally undertaken to the Company that during the Restricted Period (as defined below), he shall not, and shall procure that his associates and/or entities controlled by him, shall not (i) directly or indirectly, alone or in conjunction with any individual or entity, participate in any business activities (current or future) relevant to the Company within Singapore or China.; and (ii) directly or indirectly, alone or in conjunction with any individual or entity, hold interests in any company within Singapore or China whose portfolio and/or themes of business are similar and in direct competition to those of the Group. Restricted Period means the period commencing on the date of appointment as a director and for as long as Mr. Frank Liu Tao is a director of the Company or Group, an employee of the Group or a controlling shareholder of the Company (as the case may be) and ending on a date falling 12 months after his cessation. Familial RelationShip: As announced on 31 December 2024, Mr. Frank Liu Tao had undertaken to subscribe for 9,090,909 Rights Shares pursuant to the Proposed Renounceable Non-Underwritten Rights Issue. Pursuant to the loan agreement announced on 16 November 2024, Mr. Frank Liu Tao had agreed to extend a loan of S$600,000 to the Company. Further, as announced on 31 December 2024, he had executed an irrevocable undertaking to subscribe and pay in full for 9,090,909 Rights Shares. The subscription monies for the Rights Shares will be made by offsetting from the Loan. Other DirectorShips Past: Executive Director, Shanghai Xuanshang Enterprise Management Co Ltd. Other DirectorShips Present: Executive Director, Shanghai Wuzhao Catering Management Co Ltd. Executive Director, Shanghai Qibajiu Network Technology Co Ltd, Executive Director, Shanghai Jiyi Enterprise Management Co Ltd. Executive Director, Shanghai Gaofeng Consulting Management Co Ltd. Executive Director, Baodao Investment Consulting Co Ltd, Executive Director, Shanghai Jinbaozheng Business Consulting Co Ltd. Executive Director, Shanghai Gaoming Consulting Management Co Ltd, Executive Director, Shanghai Gaosheng Commercial Building Management Co Ltd. Executive Director, Shanghai Gaosheng Commercial Plaza Co Ltd, Executive Director, Shanghai Gaosheng Investment Co Ltd. Executive Director, Shanghai Gaosheng Cultural Development Co Ltd. Executive Director, Shanghai 789 Network Technology Co., Ltd, Executive Director, Shanghai Gaosheng Mansion Corp. Ltd. Director Experience Details: Mr. Frank Liu Tao will attend the relevant training on the roles and responsibilities of a Director of a listed issuer as prescribed by the Exchange. Professional Qualifications: Columbia Senior Executive Program - Columbia University Institute School of Business Bachelor of Arts - Beijing Union University. Date of appointment is January 6, 2025.