Change - Announcement of Cessation::RESIGNATION OF EXECUTIVE DIRECTOR
Issuer & Securities
MEDTECS INTERNATIONAL CORP LTD
MEDTECS INTERNATIONAL CORP LTD - BMG5958R1043 - 546
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
RESIGNATION OF EXECUTIVE DIRECTOR
Submitted By (Co./ Ind. Name)
Clement Yang Ker-Cheng
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Wilfrido Candelaria Rodriguez as Executive Director of the Company. Mr Wilfrido Candelaria Rodriguez's resignation will take effect from 11 August 2020.
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, R & T Corporate Services Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Sponsor has not independently verified the contents of this announcement including the accuracy or completeness of any of the figures used, statements, opinions or other information made or disclosed.
This announcement has not been examined or approved by the Exchange. The Exchange 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 persons for the Sponsor are Ms Evelyn Wee (Telephone Number: +65 6232 0724) and Mr Howard Cheam Heng Haw (Telephone Number: +65 6232 0685), R & T Corporate Services Pte. Ltd., at 9 Straits View #06-07, Marina One West Tower, Singapore 018937.
Name Of Person
Wilfrido Candelaria Rodriguez
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To comply with Provision 2.2 of the Code of Corporate Governance 2018 which requires independent directors to make up a majority of board of directors where the Chairman is not independent, Mr Wilfrido Candelaria Rodriguez relinquished his role as an Executive Director of the Company and will remain as the Chief Financial Officer. Based on the Sponsor's enquiries of Mr Wilfrido Candelaria Rodriguez, no other reason for cessation had been provided by him, other than as disclosed above.
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.)
Executive Director and Chief Financial Officer. Upon his cessation as an Executive Director, he will remain as the Chief Financial Officer.
Role and responsibilities
Upon his cessation as an Executive Director, Mr Wilfrido Candelaria Rodriguez will remain as the Chief Financial Officer and will be responsible for managing the financial actions of the Company as well as analyzing the Company's financial strengths and weaknesses and proposing appropriate courses of action.
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)
Clement Textile International Corp
U-Net Distributors Corporation
Medtrends Distributors Corp
Universal Joint Network Technologies Inc.
Puerto Paragua Resorts Inc
Qore Resource Solutions Inc