Change - Announcement of Cessation::Cessation of Non-Independent and Non-Executive Director

Issuer & Securities

Issuer/ Manager
QT VASCULAR LTD.
Securities
QT VASCULAR LTD. - SG2G82000008 - 5I0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
11-Nov-2020 20:17:35
Status
New
Announcement Sub Title
Cessation of Non-Independent and Non-Executive Director
Announcement Reference
SG201111OTHROETC
Submitted By (Co./ Ind. Name)
Eitan Konstantino
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement on the cessation of Mark Allen Wan as Non-Executive and Non-Independent Director of the Company.

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 Gillian Goh, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Mark Allen Wan
Age
55
Is effective date of cessation known?
Yes
If yes, please provide the date
18/11/2020
Detailed Reason (s) for cessation
Mr Mark Allen Wan had informed the Company of his intention to resign as the Company's Non-Independent and Non-Executive Director due to obligations arising from his other positions and/or roles and the Company has accepted his resignation on 11 November 2020.

After having interviewed Mr Mark Allen Wan and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Mark Allen Wan as the Company's Non-Independent Non-Executive Director.
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
11/07/2013
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)
1
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.)
Non-Independent and Non-Executive Director
RC Member
Role and responsibilities
As a member of the board and the RC.

Arising from Mark Allen Wan's resignation, there will be a vacancy in the membership of the Remuneration Committee ("'RC") which the Company will fill in due course and which the Company will update the Shareholders on accordingly.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
2,823,611 options held directly by Mr Wan.

1,920,000 options held by Three Arch Partners IV, LP.
Past (for the last 5 years)
ETN Media, Inc.
Project One Nutrition, Inc.
Three Arch Management IV, LLC
Present
AcelRx Pharmaceutical, Inc.
Causeway Management, LLC
VenueNext, Inc.
Tracksmith, Inc.
CareConnectMD, Inc.
QuintEvents, LLC
Freeletics GmbH
Mountain Origins Design, LLC DBA Stio
FloSports,Inc.