SGX Announcements

Change - Announcement Of Appointment :: Appointment Of Chief Financial Officer

BackApr 13, 2017
Announcement Title Change - Announcement of Appointment
Date & Time of Broadcast Apr 13, 2017 17:16
Status New
Announcement Sub Title Appointment of Chief Financial Officer
Announcement Reference SG170413OTHRRPOI
Submitted By (Co./ Ind. Name) Brian McKinley
Designation Chief Executive Officer and Executive Director
Description (Please provide a detailed description of the event in the box below) Appointment of Chief Financial Officer.
Additional Details
Date Of Appointment 13/04/2017
Name Of Person Somnath Adak
Age 33
Country Of Principal Residence India
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) Upon the recommendation of the Nominating Committee, the Board approved the appointment of Mr Somnath Adak as Chief Financial Officer of the Trustee-Manager, after reviewing his qualification, work experience and expertise.
Whether appointment is executive, and if so, the area of responsibility The appointment is executive in nature. Mr Somnath Adak has full executive responsibilities over financial accounting and reporting, tax and statutory reporting of the Trustee-Manager, the Trust and its subsidiaries and provides overall financial leadership to the these entities.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Chief Financial Officer
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries None
Conflict of interests (including any competing business) None
Working experience and occupation(s) during the past 10 years 1. Mar 2010 - Mar 2017 - Macquarie Group

Jul 2015 - Mar 2017 - Assistant Vice President
Jul 2014 - Jun 2015 - Manager
May 2013 - Jun 2014 - Assistant Manager

During the years mentioned above, Mr Somnath Adak served as the finance controller of the Trustee-Manager since the listing of Asian Pay Television Trust in May 2013. He was responsible for the day to day accounting and finance management and reported to the CFO of the Trustee-Manager.

Mar 2011 - Jun 2012 - Assistant Manager
Jun 2012 - Apr 2013 - Executive

During the years mentioned above, Mr Somnath Adak served as assistant finance controller of SGX-ST listed fund Macquarie International Infrastructure Fund Limited ("MIIF") and oversaw the delisting of MIIF from SGX-ST and the liquidation thereafter.

Mar 2010 - Feb 2011 - Executive

During the years mentioned above, Mr Somnath Adak served as a finance executive supporting day to day accounting of US based unlisted Macquarie managed funds.

2. May 2019 - Feb 2010 - ITC Limited

Assistant Manager, Finance - ITC Limited is one of the largest multi-business conglomerates in the Indian FMCG industry. Mr Somnath Adak was responsible for statutory accounts of one of the manufacturing factories located in Bengaluru, India and was responsible for Capital Expenditure including special projects (e.g. Installation of wind mills, factory improvements etc.).

3. Apr 2006 - Apr 2009 - Grant Thornton

Senior In-Charge - Mr Somnath Adak was responsible for managing staturory audit assignments for listed and unlisted companies in India. He also worked on some special assignments including the Initial Public Offering of DLF Limited, a real estate developer in India.
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? 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) None
Present None
(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 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 Not Applicable
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No PRC Person shall hold or control Units in Asian Pay Television Trust in breach of the PRC Investment Restrictions and no Restricted Party shall hold or control Units in breach of the Taiwan Government Ownership Restrictions. The Trustee-Manager may, in the case of a breach of the PRC Investment Restrictions and/or the Taiwan Government Ownership Restrictions and/or where a corporate entity which provides cable television services in Taiwan (as determined by the Trustee-Manager in its sole discretion) holds or acquires more than one-third of the total issued Units, take all steps and do all things as they may in their absolute discretion deem necessary to ensure that the restrictions thereunder are complied with. In particular, the Trust Deed provides that the Trustee-Manager has the power to require the relevant Unitholders to dispose of their Units and, if such request is not complied with within 21 days after such request (or such shorter period as the Trustee-Manager shall consider reasonable), the power to arrange for the sale of the Units. Pending such sale, the Trustee-Manager has the power to suspend the voting rights of such Units and/or to restrict the transfer of such Units. The Trustee-Manager shall not be required to give any reason for, and shall not under any circumstances be liable to or be responsible for any losses incurred by, any person as a result of, any decision, declaration or action taken or made in this regard.