Change - Announcement of Cessation::Resignation of Executive Chairman and Chief Executive Officer - Low Koon Poh

Issuer & Securities

Issuer/ Manager
MEDI LIFESTYLE LIMITED
Securities
MEDI LIFESTYLE LTD - SGXE63978766 - Z4D
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Feb-2024 23:08:28
Status
New
Announcement Sub Title
Resignation of Executive Chairman and Chief Executive Officer - Low Koon Poh
Announcement Reference
SG240226OTHRY2EK
Submitted By (Co./ Ind. Name)
Kong Wei Fung
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Low Koon Poh ("Dato Low") as Executive Chairman and Chief Executive Officer.

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("SGX-ST") and 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 Lee Khai Yinn, at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542, telephone: (65) 6232 3210

Additional Details

Name Of Person
Low Koon Poh
Age
51
Is effective date of cessation known?
Yes
If yes, please provide the date
27/02/2024
Detailed Reason (s) for cessation
Dato' Low has tendered his resignation on 21 February 2024 to devote more time for personal matters. Taking into consideration the foregoing and the availability of the new Chief Executive Officer who is the successor of his role to be appointed immediately on 27 February 2024, the Company and Dato' Low have mutually agreed for his cessation to take effect on 27 February 2024. The existing Executive Director of the Company, Dato' Alvin Joseph Nesakumar, will work closely with the new Chief Executive Officer to ensure smooth transition.

The Board would like to express its appreciation towards Dato' Low for his invaluable contributions during his tenure of service.

The Sponsor, after having interviewed Dato' Low, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the resignation of Dato' Low as Executive Chairman and Chief Executive Officer 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?
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
01/06/2019
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer and Member of Risk Committee
Role and responsibilities
Dato' Low leads the Board and assumes the roles and responsibilities as Chairman of the Company. As Chief Executive Officer of the Company, Dato' Low oversees the Group's strategic directions and corporate business expansion and he is responsible for business development and performance, growth charting and corporate planning of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
2,804,430 ordinary shares (representing 2.08% of the Company's issued and paid-up share capital) in Medi Lifestyle Limited
Other Directorships
Past (for the last 5 years)
Please refer to Appendix A
Present
Please refer to Appendix A

Attachments

Appendix A_LKP_Final .pdf
Total size =92K