Change - Announcement of Cessation::CESSATION OF NON-INDEPENDENT NON-EXECUTIVE CHAIRMAN
Issuer & Securities
AXINGTON INC. - MYA012218006 - 42U
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION OF NON-INDEPENDENT NON-EXECUTIVE CHAIRMAN
Submitted By (Co./ Ind. Name)
Dato' Peter Tang Swee Guan
Deputy Executive Chairman and Executive Director
Description (Please provide a detailed description of the event in the box below)
CESSATION OF NON-INDEPENDENT NON-EXECUTIVE CHAIRMAN.
This announcement has been prepared by Axington Inc. (the "Company") and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(b) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist.
This announcement has not been examined or approved by the 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 Mr. Pong Chen Yih, Chief Operating Officer, 9 Raffles Place, #17-05 Republic Plaza Tower 1, Singapore 048619, telephone (65) 6950 2188.
Name Of Person
Dr. Veerinderjeet Singh a/l Tejwant Singh
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Board reconstitution following the close of the mandatory unconditional cash offer by Dorr Global Healthcare International Pte. Ltd.
After having interviewed Dr. Veerinderjeet Singh a/l Tejwant Singh ("Dr. Veerinder") and to the best of its knowledge, the Company's sponsor, Novus Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Dr. Veerinder as the Non-Independent Non-Executive Chairman 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.)
Non-Independent Non-Executive Chairman
Role and responsibilities
Chairman of the Board and chairs Board of Directors meeting to discuss relevant matters affecting the Company and to accept reports from the Nomination, Remuneration and Audit Committees.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
Bank of Nova Scotia Bhd
Axington Singapore Pte. Ltd.
Taxand GST Sdn Bhd
Malaysian Rating Corporation Bhd
AmBank (M) Bhd
UMW Holdings Bhd
IBFD Asia Sdn Bhd
Tricor Taxand Sdn Bhd (formerly known as Axcelasia Taxand Sdn Bhd)
Axington Lao Co. Ltd.
Axcelasia Vietnam Co. Ltd.