Tricor Regulatory News (TRIC)

Tricor plc

("Tricor" or the "Company")

Board Changes

The board of directors of Tricor (the "Board") is pleased to announce the appointment of Mr. Bien Kiat Tan and Mr. Lai Fatt Loo as non-executive directors of the Company.

As announced on 31 March 2015, Tricor entered into a working capital facility agreement with (the "Agreement") with Ellwood International Limited ("Ellwood"). As part of the Agreement, Ellwood was entitled to appoint up to two nominee directors to the board of the Company at any time when Ellwood holds more than 20% of the issued share capital of the Company. Ellwood now has a total beneficial interest in 55,591,119 Ordinary Shares, equivalent to 29.95% of the Company's total issued share capital. Ellwood, which is 100% owned by Mr Bien Kiat Tan, has appointed both Mr Tan and Mr Loo to the Board.

Appointment of Mr Bien Kiat Tan

Mr. Tan has a strong financial background, including strategy consulting and private equity. He was the Managing Director of TPG Capital, which is a leading buyout fund in Asia and one of the leading private equity firms globally with assets under management of over US$70 billion. He founded and is currently the Managing Director of Titan Capital and Ellwood.

Mr. Tan was educated in the United States at Columbia University where he received his MS and MBA and the United Kingdom at the University of Birmingham. 

Bien Kiat Tan, aged 60, is, or has been within the last five years, a director or partner of the following entities:

Appointment of Mr Lai Fatt Loo

Mr Loo is a member of Association of Chartered Certified Accountants and he was awarded an accounting degree by Oxford Brookes University, United Kingdom. He has a strong accounting background having worked for BDO, KPMG and PwC.

He is currently the Vice President of Titan Capital, where he is responsible for undertaking the various buy and sell side advisory engagements for the firm. He has experience of direct investments, cross-border M&A and portfolio management.

Loo Lai Fatt (also known as Vincent Loo), aged 27, is, or has been within the last five years, a director or partner of the following entities:

Enquiries: