Change - Announcement of Cessation::Resignation of Non-Independent Non-Executive Director
Issuer & Securities
ALPHA DX GROUP LIMITED
ALPHA DX GROUP LTD - SGXE43564132 - VVL
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Resignation of Non-Independent Non-Executive Director
Submitted By (Co./ Ind. Name)
Tan Wee Sin
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Fabian Sven Bahadur Scheler as a Non-Independent Non-Executive 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 Ng Shi Qing, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, email@example.com.
Name Of Person
Fabian Sven Bahadur Scheler
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Due to the material differences in direction with management and other Board members, Mr. Fabian Sven Bahadur Scheler has tendered his resignation, with immediate effect.
The Board has agreed to accept Mr. Fabian Sven Bahadur Scheler's resignation as Non-Independent Non-Executive Director of the Company with effect from 8 March 2022. There is no notice period required to be served by him.
Following Mr. Fabian Sven Bahadur Scheler's resignation, he will also relinquish his position as a member of the Audit Committee of the Company.
After having interviewed Mr. Fabian Sven Bahadur Scheler 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 resignation of Mr. Fabian Sven Bahadur Scheler as a Non-Independent Non-Executive 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?
If Yes, Please provide full details
Differences with management on the approach to the Company's restructuring as laid out in the resignation letter, including the dealing with transactions for which the Company put down good faith deposits and which management refuses to consider abandoning so that the deposits can be returned to the Company to address its issues with the creditors.
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-Independent Non-Executive Director and a member of the Audit Committee.
Role and responsibilities
Non-Independent Non-Executive of the Company.
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)
Amadeus Capital SA
W Capital Management (Gibraltar) Ltd
Amadeus Quantamental SARL