Change - Announcement of Cessation::Retirement of Independent Director, Dr Wee Beng Geok
Issuer & Securities
RAFFLES MEDICAL GROUP LTD
RAFFLES MEDICAL GROUP LTD - SG1CH4000003 - BSL
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Retirement of Independent Director, Dr Wee Beng Geok
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
Retirement of Dr Wee Beng Geok as a Non-Executive Independent Director and a Member of Nomination & Compensation Committee.
Name Of Person
Dr Wee Beng Geok
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
As part of the Board rejuvenation process and good corporate governance practice, Dr Wee Beng Geok will retire from the Board on 30 April 2021. Dr Wee has served on the Board for more than 20 years and various Board Committees during her tenure of service.
Upon her retirement, she will also cease to be a member of the Nomination & Compensation Committee of the Company.
The Board of Directors and the Company would like to record our appreciation to Dr Wee for her invaluable contributions and guidance during her tenure as an Independent Director 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-executive and Independent Director, Nomination & Compensation Committee Member
Role and responsibilities
Non-executive and Independent Director
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?
1. Direct Interest - 3,459,000 Raffles Medical Group Ltd Ordinary Shares
2. Date of Grant - 3 April 2017
Options to subscribe for Ordinary Shares in Raffles Medical Group Ltd - 75,000
Option price per share - S$1.42
3. Date of Grant - 3 September 2018
Options to subscribe for Ordinary Shares in Raffles Medical Group Ltd - 100,000
Option price per share - S$1.09
4. Date of Grant - 1 July 2019
Options to subscribe for Ordinary Shares in Raffles Medical Group Ltd - 125,000
Option price per share - S$1.04
5. Date of Grant - 5 October 2020
Options to subscribe for Ordinary Shares in Raffles Medical Group Ltd - 250,000
Option price per share - S$0.81
6. Date of Grant - 5 October 2020
Share Awards - 10,000
Past (for the last 5 years)
The Theatre Practice Ltd (Director)
Raffles Medical Group Ltd (Director)