TIDMPURE
RNS Number : 7923T
PureCircle Limited
18 November 2019
Appointment of Directors
PureCircle (LSE: PURE), the world's leading producer and
innovator of great-tasting stevia sweeteners for the global food
and beverage industry, announces the appointment of four
non-executive directors.
Tan Boon Seng ("Boon Seng") is a representative of Wang Tak
Company Limited ("Wang Tak"), which has a total combined interest
of 27.7% in the Company. Wan Azmi Wan Hamzah, Tan Sri ("Tan Sri Wan
Azmi") is a representative of Halfmoon Bay Capital Limited
("Halfmoon") and Alwaha Fund Limited ("Alwaha"), which has a total
combined interest of 11.2% in the Company. Boon Seng's and Tan Sri
Wan Azmi's appointment as non-independent non-executive directors
of the Company is effective on 11 November 2019.
The other two appointments to the Board are Ali bin Abdul Kadir,
Datuk ("Datuk Ali") and Robert Cheim Dau Meng, Dato', ("Dato'
Robert Cheim"), as independent non-executive directors, effective
on 18 November 2019.
Biographical details of the new Board members are provided
below.
John Slosar, Chairman and interim Group CEO said, "These four
new Board appointees will bring a range of fresh insight and
expertise to the Board, especially in the areas of finance,
accounting, governance and strategy development. It is also
important that significant shareholders of PureCircle are
supporting the Company by joining the Board and I welcome this
development. I'd like to welcome Boon Seng, Tan Sri Wan Azmi, Datuk
Ali and Dato' Robert Cheim to the Company."
Non-Independent Non-Executive Directors
Tan Boon Seng
Boon Seng, aged 64, is the Chairman and Managing Director of Lee
Hing Development Limited ("Lee Hing"), a company listed on the Hong
Kong Stock Exchange and the holding company of Wang Tak, of which
he is also a Director.
Boon Seng has an indirect interest in PureCircle as a
substantial shareholder of Lee Hing (with a 36.67% interest), of
which Wang Tak is a wholly owned subsidiary. As such, Boon Seng has
a total combined interest in PureCircle of 51,114,121 shares as
held by Wang Tak, himself and his spouse, representing 27.7%, of
the share capital of the Company.
A list of Boon Seng's directorship in other publicly listed
companies over the past five years is included in the appendix to
this announcement.
Wan Azmi Wan Hamzah, Tan Sri
Wan Azmi Wan Hamzah, Tan Sri, ("Tan Sri Wan Azmi") aged 69, is
currently Chairman and controlling shareholder in Rohas Tecnic
Berhad, a Malaysian public listed company whose principal business
is in manufacturing and infrastructure development. He is also
Chairman and shareholder of Syarikat Pengeluar Air Selangor Berhad,
a water treatment concessionaire company whose business was
recently taken over by the government of Malaysia's interests.
Tan Sri Wan Azmi has passed his final accountancy exam under the
Institute of Chartered Accountants in England and Wales in 1974.
His career spans nearly 5 decades in the UK and Malaysia, serving
in leadership position for a number of corporations. Over the
years, Tan Sri Wan Azmi had also held directorship in, and acted as
the Chairman of several publicly listed companies.
Tan Sri Wan Azmi has a total combined interest of 11.2% of the
share capital of PureCircle through two family investment vehicles,
namely Halfmoon and Alwaha. Halfmoon owns 14,432,228 shares, or
7.8% of the issued share capital of the Company whereas Alwaha owns
6,151,706 shares, or 3.3% of the issued share capital of the
Company.
A list of Tan Sri Wan Azmi's directorship in other publicly
listed companies over the past five years is included in the
appendix to this announcement.
Independent Non-Executive Directors
Ali bin Abdul Kadir, Datuk
Ali bin Abdul Kadir, Datuk ("Datuk Ali"), aged 70, is a Fellow
of the Institute of Chartered Accountants in England and Wales
("ICAEW"), member of the Malaysian Institute of Certified Public
Accountants and the Malaysian Institute of Accountants. He is also
the Honorary Advisor to ICAEW Malaysia, Honorary Fellow of the
Institute of Chartered Secretaries & Administrators, United
Kingdom and the Malaysian Institute of Directors.
Datuk Ali is currently the Chairman of JcbNext Berhad (formerly
Jobstreet Corporation Berhad) and Enra Group Berhad. He is a board
member of Glomac Berhad, Citibank Malaysia and Ekuiti Nasional
Berhad (Ekuinas).
Datuk Ali was the Chairman of the Securities Commission of
Malaysia from 1 March 1999 to 29 February 2004. He initiated and
drove the development of the Capital Market Masterplan and the
Capital Market Advisory Council which he chaired. He was also a
member of the National Economic Consultative Council II, the
Foreign Investment Committee, Oversight Committee of National Asset
Management Company (Danaharta) and Finance Committee on Corporate
Governance.
On the international front, he was a member of the Executive
Committee of the International Organisation of Securities
Commissions (IOSCO) and Chairman of its Asia-Pacific Regional
Committee and the Islamic Capital Market Working Group and trustee
of AAOIFI. He was also the advisor to the Sri Lanka Securities
& Exchange Commission to develop their Capital Market
Development Blueprint.
Earlier in his career, Datuk Ali was the Executive Chairman and
Partner of Ernst & Young and its related firms. He was the Past
President of the MICPA, chairing its Executive Committee and
Insolvency Practices Committee, and co-chairing the Company Law
Forum. He was appointed as an Adjunct Professor in the Accounting
and Business Faculty, University of Malaya in 2008, retiring in
August 2011. He was then appointed to the Advisory Board of the
same faculty. Datuk Ali has also chaired the Financial Reporting
Foundation from July 2009 to June 2015. He was an Authority board
member of the Labuan Financial Services Authority from 2000 to
October 2019.
Datuk Ali was bestowed with the "Lifetime Achievement Award" by
MICPA and the "President's Award" by ICAEW Kuala Lumpur City
Chapter.
A list of Datuk Ali's directorship in other publicly listed
companies over the past five years is included in the appendix to
this announcement.
Robert Cheim Dau Meng, Dato'
Robert Cheim Dau Meng, Dato', ("Dato' Robert Cheim"), aged 68,
is a Fellow of ICAEW & a Member of the Malaysian Institute of
Accountants.
He is currently Non-Executive Chairman of CIMB Investment Bank
& CIMB Thai Bank Public Company Limited both of which are
subsidiaries of CIMB Group Holdings Berhad ("CIMB Group"), a
leading banking group in South East Asia.
He is also a Trustee of Yu Cai Foundation (a charitable
foundation) and the current Chairman of the Malaysian Investment
Bankers Association.
He retired from all his executive positions in the CIMB Group in
February 2015 after having served in various capacities with CIMB
Group since 1984 as Head of Corporate Finance, Chief Executive of
CIMB Investment Bank, Adviser for Investment Banking.
He has also served previously as Independent Non-Executive
Chairman of Tanjong PLC from 2005 to 2016 & also Chairman of
CIMB Principal-Asset Management Berhad (a Joint Venture between the
Principal Group from USA & CIMB Group) from 2015 to 2018.
A list of Dato' Robert Cheim's directorship in other publicly
listed companies over the past five years is included in the
appendix to this announcement.
Appendix - List of directorship in other publicly listed
companies over the past five years
Tan Boon Seng
Position Full Company Name Country of If listed, Principal
Incorporation exchange Activity
that it is
listed on
Current Directorships
Chairman Lee Hing Development Hong Kong Hong Kong Share trading
and Managing Limited Stock Exchange and investment
Director holding
------------------------- --------------- ---------------- ---------------------
Previous Directorships (last 5 yrs)
Director Auto Italia Holding Bermuda Hong Kong Import, marketing
Ltd and distribution
(Formerly known as of cars, electrical
Woo Kee Hong (Holdings) appliances
Ltd.) and fashion
apparels and
accessories
------------------------- --------------- ---------------- ---------------------
Director IGB Corporation Berhad Malaysia Malaysia Investment
holding
------------------------- --------------- ---------------- ---------------------
Wan Azmi Wan Hamzah, Tan Sri
Position Full Company Name Country of If listed, Principal
Incorporation exchange Activity
that it
is listed
on
Current Directorships
Chairman/Non-Independent Rohas Tecnic Berhad Malaysia Malaysia Investment
Director holding
-------------------- --------------- ----------- -----------
Previous Directorships (last 5 yrs)
Nil
-------------------- --------------- ----------- -----------
Ali bin Abdul Kadir, Datuk
Position Full Company Name Country of If listed, Principal
Incorporation exchange Activity
that it is
listed on
Current Directorships
Independent Glomac Berhad Malaysia Malaysia Property
Non-Executive development
Director and investment
holding
----------------------- --------------- ------------ ---------------------
Non-Executive JcbNext Berhad Malaysia Malaysia Investment
Chairman (Formerly known as holding
Jobstreet Corporation
Berhad)
----------------------- --------------- ------------ ---------------------
Non-Executive Enra Group Berhad Malaysia Malaysia Property
Chairman investment,
investment
holding, investment
services activities
and
sale of completed
properties
----------------------- --------------- ------------ ---------------------
Previous Directorships (last 5 yrs)
Chairman Privasia Technology Malaysia Malaysia Investment
Berhad holding
----------------------- --------------- ------------ ---------------------
Chairman Microlink Solutions Malaysia Malaysia Investment
Berhad holding and
provision
of research
and development
on information
technology
solutions
----------------------- --------------- ------------ ---------------------
Chairman Milux Corporation Malaysia Malaysia Investment
Berhad holding and
provision
of management
services
----------------------- --------------- ------------ ---------------------
Robert Cheim Dau Meng, Dato'
Position Full Company Name Country of If listed, Principal
Incorporation exchange Activity
that it
is listed
on
Current Directorships
Chairman//Non-Independent CIMB Thai Bank Thailand Thailand Financial
Director Public Company institution
Limited
-------------------- --------------- ----------- -------------
Previous Directorships (last 5 yrs)
Independent Non-Executive Tanjong PLC England Malaysia Investment
Chairman holding
-------------------- --------------- ----------- -------------
Executive Director CIMB Group Holdings Malaysia Malaysia Financial
Berhad Institution
-------------------- --------------- ----------- -------------
18 November 2019
Enquiries:
Investors/Analysts
John Slosar, Chairman and Interim CEO
Phone: +603 2166 2206
Newgate Communications, Media Relations
Elisabeth Cowell
Giles Croot
Email: purecircle@newgatecomms.com
Phone: +44 (0) 20 3757 6880
Notes to Editors
About PureCircle
-- PureCircle is the only company that combines advanced R&D
with full vertical integration from farm to high-quality,
great-tasting innovative stevia sweeteners.
-- The Company collaborates with farmers who grow the stevia
plants and with food and beverage companies which seek to improve
their low- and no-calorie formulations using a sweetener from
plants.
-- PureCircle will continue to: lead in research, development
and innovation; produce a growing supply of multiple varieties of
stevia sweeteners with sugar-like taste, using all necessary and
appropriate methods of production; and be a resource and innovation
partner for food and beverage companies.
-- PureCircle stevia flavor modifiers work in synergy with
sweeteners to improve the taste, mouthfeel and calorie profile, and
enhance the cost effectiveness, of beverage and food products.
-- Founded in 2002, PureCircle is continually investing in
breakthrough research and development and it has been granted over
100 stevia-related patents with more than 250 applied for patents
pending.
-- PureCircle has offices around the world with the global
headquarters in Chicago, Illinois.
-- To meet growing demand for stevia sweeteners, PureCircle is
rapidly ramping up its supply capability. It completed expansion of
its Malaysian stevia extract facility in March 2017, increasing its
capacity to rapidly supply the newer and great-tasting specialty
stevia sweeteners and helping provide ever-increasing value to its
customers.
-- PureCircle's shares are listed on the main market of the
London Stock Exchange.
-- For more information, visit: www.purecircle.com
About stevia
-- Given the growing global concerns about obesity and diabetes,
beverage and food companies are working responsibly to reduce sugar
and calories in their products, responding to both consumers and
health and wellness advocates. Sweeteners from the stevia plant
offer sugar-like taste and are becoming an increasingly important
tool for these companies.
-- Like sugar, stevia sweeteners are from plants. But unlike
sugar, they enable low-calorie and zero-calorie formulations of
beverages and foods.
-- Stevia leaf extract is a natural-based, zero calorie,
high-intensity sweetener, used by global food and beverage
companies as a great-tasting zero-calorie alternative to sugar and
artificial sweeteners.
-- Stevia is a naturally sweet plant native to South America;
today, it is grown around the world, notably in Kenya, China and
the US.
-- The sweet-tasting parts of the stevia leaf are up to 350
times sweeter than sugar: stevia's high-intensity sweetness means
it requires far less water and land than sugar.
-- Research has shown that the molecules of the stevia leaf are
present and unchanged in the dried stevia leaf, through the
commercial extraction and purification process, and in the final
stevia leaf extract product. All major global regulatory
organisations, across 65 countries, have approved the use of
high-purity stevia leaf extracts in food and beverages.
-- Stevia has strong environmental benefits when compared to
sugar requiring less water, less land area and having a lower
carbon footprint.
-- For more information on the science of stevia, please visit
https://www.purecirclesteviainstitute.com/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOACKFDBPBDDODD
(END) Dow Jones Newswires
November 18, 2019 10:42 ET (15:42 GMT)
Purecircle (LSE:PURE)
Historical Stock Chart
From Apr 2024 to May 2024
Purecircle (LSE:PURE)
Historical Stock Chart
From May 2023 to May 2024