Change - Announcement of Cessation::Retirement of Independent Non-Executive Director - Kesavan Nair

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
15-Apr-2024 07:39:44
Status
New
Announcement Sub Title
Retirement of Independent Non-Executive Director - Kesavan Nair
Announcement Reference
SG240415OTHRS2ZP
Submitted By (Co./ Ind. Name)
Herry Pudjianto
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Kesavan Nair as Independent Non-Executive Director.

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 Charmian Lim, at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542, telephone: (65) 6232 3210.

Additional Details

Name Of Person
Kesavan Nair
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2024
Detailed Reason (s) for cessation
Mr Kesavan Nair has served on the Board of Directors (the "Board") for more than twelve years since his appointment as Director of the Company on 29 September 2011. As part of the board renewal process, Mr Kesavan Nair has indicated to the Board of Directors that he will not be seeking for re-election at the forthcoming annual general meeting to be held on 30 April 2024 ("AGM"). He will accordingly retire as an Independent Non-Executive Director of the Company upon conclusion of the AGM and will cease as Chairman of the Nominating and Remuneration Committees and member of the Audit and Risk Committees of the Company effective from 30 April 2024.

The Sponsor, after having interviewed Mr Kesavan Nair, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the retirement of Mr Kesavan Nair as 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?
Yes
If Yes, Please provide full details
The Company is in the midst of identifying new independent director candidates and will endeavour to fill the vacancy in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rules 406(3)(c) and 704(7) of the Catalist Rules.
Date of Appointment to current position
29/09/2011
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)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
- Independent Non-Executive Director
- Chairman of Nominating and Remuneration Committees
- Member Audit and Risk Committees
Role and responsibilities
Independent Non-Executive Director, Chairman of Nominating and Remuneration Committees and member of Audit and Risk Committees.
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?
No
Past (for the last 5 years)
Directorships
- Kitchen Culture Holdings Ltd.
- Arion Entertainment Singapore Limited
- HG Metal Manufacturing Limited

Other Principal Commitment
Nil
Present
Directorships
- Bayfront Law LLC
- OxPay Financial Limited

Other Principal Commitment:
Nil