Change - Announcement of Cessation::Change - Announcement of Cessation

Issuer & Securities

Issuer/ Manager
QUANTUM HEALTHCARE LIMITED
Securities
QUANTUM HEALTHCARE LIMITED - SGXE57350022 - V8Y
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
20-Dec-2022 17:28:24
Status
New
Announcement Sub Title
Change - Announcement of Cessation
Announcement Reference
SG221220OTHROVNN
Submitted By (Co./ Ind. Name)
Thomas Tan Gim Chua
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement on cessation of Kelvin Tong Wee Chiang as Chief Financial Officer of Quantum Healthcare Limited.

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms Lim Hui Ling, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Kelvin Tong Wee Chaing
Age
45
Is effective date of cessation known?
Yes
If yes, please provide the date
13/01/2023
Detailed Reason (s) for cessation
Mr. Kelvin Tong Wee Chiang ("Mr Tong") has resigned from his position as Chief Financial Officer as Mr Tong has been with the Company since 1 July 2014 and has successfully seen the Company though the recently completed change in business via a Scheme of Arrangement which was completed on 28 July 2022. Mr Tong thought it would be good timing for him to move on now to explore other career opportunities.

After having interviewed Mr Tong and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd. ("PPCF"), is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Tong as the Chief Financial Officer of the Company.

In addition, PPCF notes that there are no concerns with regards to the financial reporting of the Group that led to the cessation of Mr Tong and there are no disagreements between Mr Tong and the Board of Directors of the Company with regards to practices that will have an impact on the Company's financial reporting.

The Company has identified a replacement and is in the process of finalising his appointment and will update shareholders by way of announcement in due course.
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?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
01/09/2020
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
The Chief Financial Officer is responsible for all finance, accounting, tax and risk management functions for the Company and its subsidiaries.
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?
Yes
Shareholding Details
Holding 12,001,887 Ordinary Shares of the Company and 150,000 Share Awards under Quantum Healthcare Restricted Share Plan 2015. The Share Awards will expire upon Mr Tong's resignation.
Other Directorships
Past (for the last 5 years)
Nil
Present
Director, Asia Dental Group Pte. Ltd.
Director, Trireme Medical (Singapore) Pte. Ltd.
Director, Quattro Vascular Pte. Ltd.