REPL::Change - Announcement of Cessation::Retirement of Independent Non-Executive Director - Professor Low Teck Seng

Issuer & Securities

Issuer/ Manager: ISEC HEALTHCARE LTD.
Securities: ISEC HEALTHCARE LTD. - SG1AD9000001 - 40T
Stapled Security: No

Announcement Details

Announcement Title: Change - Announcement of Cessation
Date &Time of Broadcast: 17-Apr-2020 23:55:58
Status: Replacement
Announcement Sub Title: Retirement of Independent Non-Executive Director - Professor Low Teck Seng
Announcement Reference: SG200415OTHRQ0SR
Submitted By (Co./ Ind. Name): Ngiam May Ling
Designation: Company Secretary
Description (Please provide a detailed description of the event in the box below): Retirement of Professor Low Teck Seng as an Independent Non-Executive Director of the Company.

Please see additional information made to the detailed reason(s) for cessation below.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. 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. Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and Email: sponsorship@ppcf.com.sg).

Additional Details

Name Of Person: Professor Low Teck Seng
Age: 65
Is effective date of cessation known?: Yes
If yes, please provide the date: 24/06/2020
Detailed Reason (s) for cessation: To facilitate the orderly renewal of the Board, Professor Low informed that he does not wish to seek re-election and will retire as Independent Non-Executive Director of the Company at the close of the Company's Annual General Meeting to be held on 24 June 2020 ("AGM"). Upon his retirement, he will also cease to be Chairman of Nominating Committee and Member of Audit and Remuneration Committees.

Referring to page 32 of the Company's FY2019 Annual Report as announced on 15 April 2020, the NC had reviewed and recommended the appointment of Ms Zhang Yongmei as a member of the AC upon Professor Low's retirement and the Board approved.

Following the retirement of Professor Low and the appointment of Ms Zhang Yongmei to the AC, the new AC will comprise of the following Directors:

1) Mr Sitoh Yih Pin - Non-Executive Chairman and Independent Director
2) Mr Lim Wee Hann - Independent Director
3) Ms Zhang Yongmei - Non-Independent and Non-Executive Director

The Company will make the relevant announcement on the changes in composition of the Board and Board Committees at the appropriate time.

After having interviewed Professor Low 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 Professor Low as an 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: 29/09/2014
Does the AC have a minimum of 3 members (taking into account this cessation)?: No
Number of Independent Directors currently resident in Singapore (taking into account this cessation): 2
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.): - Independent Non-Executive Director
- Chairman of Nominating Committee
- Member of Audit and Remuneration Committees
Role and responsibilities: As above.
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?: No
Past (for the last 5 years): - Singapore Post Limited
- ETH Singapore SEC Ltd
- General Storage Company Pte Ltd
- Berkeley Education Alliance for Research in Singapore Limited
Present: - Singapore Innovate Pte Ltd
- DSO national Laboratories
- Chip Eng Seng Corporation Ltd
- Excelpoint Technology Ltd
- Singapore-MIT Alliance for Research and Technology Centre
- Revantha Technologies Pte Ltd
- NRF Holdings Pte Ltd
- TUM Create Limited
- IEEE Asia-Pacific Limited
- Cambridge Centre for Advanced Research and Education in Singapore Ltd

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