Change - Announcement of Cessation::Retirement of Independent Chairman

Issuer & Securities

Issuer/ Manager
QT VASCULAR LTD.
Securities
QT VASCULAR LTD. - SG2G82000008 - 5I0
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
13-Oct-2021 18:22:54
Status
New
Announcement Sub Title
Retirement of Independent Chairman
Announcement Reference
SG211013OTHRBWH0
Submitted By (Co./ Ind. Name)
Eitan Konstantino
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Announcement on the retirement of Amir Belson as Independent Chairman.

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 Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Amir Belson
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
01/11/2021
Detailed Reason (s) for cessation
After approximately 5 years of service, Mr Amir Belson informed the Company of his decision to step down from his duties as Independent Chairman of the Company to pave the way for board refreshment and to pursue his personal commitments in his private companies.

After having interviewed Mr Amir Belson 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 Mr Amir Belson as the Independent Chairman 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?
Yes
If Yes, Please provide full details
The Board notes that following the retirement of Mr Amir Belson, the Audit Committee does not meet the requirements of Rule 704(7) of the Catalist Rules of the SGX-ST and there will be insufficient members in the Remuneration Committee. The Company is currently in the process of searching for suitable candidates to be appointed to the Board to meet the requirements of the respective Board committees and shall endeavour to fill the vacancy within two months, but in any case no later than three months from Mr Amir Belson's effective date of cessation as Independent Chairman of the Company.
Date of Appointment to current position
04/08/2016
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Chairman of the Board
Chairman of the Nominating Committee
Member of the Audit Committee
Member of the Remuneration Committee
Role and responsibilities
As the Independent Chairman of the Board, Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee.
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?
Yes
Shareholding Details
3,168,948 Ordinary Shares
79,616 Options
331,633 restricted share awards
Past (for the last 5 years)
Qool Therapeutic, Inc.
SuperRenal, Inc.
Zipline Medical, Inc.
VasoStitch, Inc.
Present
Emboline, Inc.
Modular Surgical, Inc.
Oxyvive, Inc.
Radiaction Ltd.
Venocare, Inc.
Ceretrieve, Ltd.
Relimetrics, Inc.
Pagonia, Inc.