Change - Announcement of Cessation::Resignation of Director, President and Chief Executive officer - Christopher Nghia Do

Issuer & Securities

Issuer/ Manager
Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Nov-2020 19:21:03
Announcement Sub Title
Resignation of Director, President and Chief Executive officer - Christopher Nghia Do
Announcement Reference
Submitted By (Co./ Ind. Name)
Low Koon Poh
Executive Director
Description (Please provide a detailed description of the event in the box below)
Resignation of Christopher Nghia Do as Director, President and Chief Executive Officer

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Ms Charmian Lim, at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542, telephone: (65) 6232 3210.

Additional Details

Name Of Person
Christopher Nghia Do
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr Christopher Nghia Do ("Mr Christopher Do") has tendered his resignation as Director, President and Chief Executive Officer with effect from 30 November 2020 following completion of the disposal of IEV Group Sdn. Bhd. together with its wholly-owned subsidiaries and associated company as announced on 25 November 2020.

The Board of Directors and Management sincerely thank Mr Christopher Do for his invaluable contributions, dedication and commitment to the Group during his tenure of service.

SAC Capital Private Limited, after having interviewed Mr Christopher Do, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Christopher Do as Director, President and Chief Executive Officer of the Company.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Director, President and Chief Executive Officer
Role and responsibilities
Executive. He in charge of the Group's day-to-day operations, overseeing the Group's strategic directions, corporate business expansion, and is responsible for business development and performance, growth charting and corporate planning of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
He is a substantial shareholder of the Company holding 29,524,158 shares in the capital of the Company representing 5.99% of the Company's issued and paid-up share capital.
Shareholding interest in the listed issuer and its subsidiaries?
Shareholding Details
Medi Lifestyle Limited (f.k.a. IEV Holdings Limited)
Direct Interest: 27,788,158 ordinary shares
Deemed Interest through spouse: 1,736,000 ordinary shares
Total interest held in the Company is 5.99%.
Past (for the last 5 years)
Majestic Megamax Sdn. Bhd.
Gas Malaysia IEV Sdn. Bhd.
IEV Oil and Gas Technologies Co., Ltd
IEV Biomass Corporation Limited
IEV Technologies Vietnam Limited Liability Company
IEV Engineering (India) Private Limited
IEV Vietnam Limited Liability Company
IEV (Malaysia) Sdn. Bhd.
IEV Energy Sdn. Bhd.
IEV Engineering Sdn. Bhd
IEV Group Sdn. Bhd.
IEV Manufacturing Sdn. Bhd.
IEV International Limited
IEV Energy Investment Pte. Limited
IEV Technologies Pte. Ltd.
PT IEV Indonesia
PT IEV Pabuaran KSO
Disruptech Holdings Sdn Bhd