| Announce of Appointment of Executive Director | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | MEDIARING LTD |
| Company Registration No. | 199304568R |
| Announcement submitted on behalf of | MEDIARING LTD |
| Announcement is submitted with respect to * | MEDIARING LTD |
| Announcement is submitted by * | Ashok Kumar Goyal |
| Designation * | Chief Executive Officer |
| Date & Time of Broacast | 01-Sep-2009 01:30:51 |
| Announcement No. | 00002 |
| Price Sensitivity | Yes |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Date of Appointment * | 31/08/2009 |
| Name * | Divya Modi |
| Age * | 26 |
| Country of principal residence * | India |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) * | In connection with the Transactions with Spice Innovative Technologies Private Limited ("Spice"), as referred to in our announcements dated 28 August 2009 and 31 August 2009, pursuant to which Spice will acquire approximately 18.81% to 20.14% of the fully diluted share capital of the Company, Ms Divya Modi has been appointed as an Executive Director of the Company. |
| Whether appointment is executive, and if so, area of responsibility * | Ms Divya Modi will be responsible for financial strategy and direction of the Company. |
| Job Title * | Executive Director |
| Working experience and occupation(s) during the past 10 years * | Ms Divya Modi is a director of (1) G M Modi Hospitals Corporation Pvt Ltd ; (2) Spice Digital Ltd; (3) Spice Global Investments Ptv Ltd; (4) Spice Investments & Finance Advisors Pvt Ltd; (5) Spice Televentures Pvt Ltd; (6) Twenty First Century Capitals Ltd; and (7) S Corp (Europe) Ltd. Ms Divya Modi is a CFA charterholder, a Graduate in Economics and Business Finance (Honors) from Brunel University, UK and a Masters in Accounting from the University of Southern California, USA. She had worked closely with Jones Lang and Lasalle and Haldford Associates to develop SpiceCorp's first Entertainment Centre "Spice World" where she has been credited for tying up with the Key Anchor Stores for the venture. She was instrumental in setting-up the Management Assurance Services (Internal Audit function) for Spice Global and was also involved with various Financial Restructuring initiatives and Investor Relations for the group especially for its erstwhile listed entities. Currently she manages the Mergers & Acquisitions and Investor Relations team and as the Executive Director of "Spice Finance" is also spearheading the group's entry into financial services. |
| Shareholding in the listed issuer and its subsidiaries * | Holds a deemed interest in 14.73% of the fully-diluted issued share capital of the Company through Spice Innovative Technologies Private Limited. |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries * | Ms Divya Modi is the daughter of Dr BK Modi, the new Chairman of the Company appointed on 31 August 2009. Ms Divya Modi is also the sister of Dilip Modi who holds a deemed interest in 14.73% of the fully-diluted issued share capital of the Company through Spice Innovative Technologies Private Limited. |
| Conflict of interest * | Nil |
| >> Other Directorship # | |
| # These fields are not applicable for announcements of appointments pursuant to Rule 704(9) | |
| Past (for the last five years) | (1) Bougainvillea Multiplex & Entertainment Center Pvt Ltd (2) Oasis Cineplex Pvt Ltd (3) MCorpGlobal Communications Pvt Ltd (4) Tuberose Investments Pvt Ltd (5) Spice Enfotainment Ltd (6) Spice Innovative Technologies Pvt Ltd (7) Spice Mobiles Ltd (Listed on the Bombay Stock Exchange) (8) MBM Limited |
| Present | (1) G M Modi Hospitals Corporation Pvt Ltd (2) Spice Digital Ltd (3) Spice Global Investments Ptv Ltd (4) Spice Investments & Finance Advisors Pvt Ltd (5) Spice Televentures Pvt Ltd (6) Twenty First Century Capitals Ltd (7) S Corp (Europe) Ltd. |
| >> Information required under Rule 704(7)(h) | |
| Disclose the following matters concerning a 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. | |
| (a) * Whether at any time during the last 10 years, a petition under any bankruptcy laws of any jurisdiction was filed against him or against a partnership of which he was a partner? | No |
| (b) * Whether at any time during the last 10 years a petition under any law of any jurisdiction was filed against a corporation of which he was a director or key executive for the winding up of that corporation on the ground of insolvency? | No |
| (c) * Whether there is any unsatisfied judgement 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 for 3 months or more, or has been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) 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 been the subject of any criminal proceedings (including any pending criminal proceedings which he is aware of) for such breach? | No |
| (f) * Whether at any time during the last 10 years, judgement 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, misinterpretation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings which he is aware of involving an allegation of fraud, misinterpretation 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 corporation? | No |
| (h) * Whether he has ever been disqualified from acting as a director of any corporation, or from taking part directly or indirectly in the management of any corporation? | No |
| (i) * Whether he has ever been the subject of any order, judgement 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, | No |
| 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 |
| >> Information required under Rule 704(7)(i) | |
| Disclosure applicable to the appointment of Director only. | |
| Any prior experience as a director of a listed company? | Yes |
| If yes, please provide details of prior experience | Ms Divya Modi is currently a director of Twenty First Century Capitals Ltd, a listed company. Ms Divya Modi was also a director of the following listed companies: (1) MBM Limited (2) Spice Mobiles Ltd |
