Change - Announcement of Appointment::Appointment of Chief Financial Officer

Issuer & Securities

Issuer/ Manager
HEALTHWAY MEDICAL CORPORATION LIMITED
Securities
HEALTHWAY MEDICAL CORP LTD - SG1X09940682 - 5NG
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
09-Jun-2017 19:07:17
Status
New
Announcement Sub Title
Appointment of Chief Financial Officer
Announcement Reference
SG170609OTHR38HY
Submitted By (Co./ Ind. Name)
Veronica Chan Wee Ping
Designation
President
Description (Please provide a detailed description of the event in the box below)
Appointment of Chief Financial Officer

This announcement has been prepared by the Company and its contents have been reviewed by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Gillian Goh, Director, Head of Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.

Additional Details

Date Of Appointment
09/06/2017
Name Of Person
Sheth Sachin Sudhirbhai
Age
44
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Nominating Committee and the Board of Directors ("Board"), having reviewed the qualifications, experience and suitability of Mr Sheth Sachin Sudhirbhai ("Mr Sheth"), is satisfied that Mr Sheth possesses the requisite qualifications and work experience for the position of Chief Financial Officer. On the recommendation by the Nominating Committee, the Board approved the appointment of Mr Sheth as Chief Financial Officer.
Whether appointment is executive, and if so, the area of responsibility
Executive.

Mr Sheth Sachin Sudhirbhai is responsible for the Group's overall finance, compliance, corporate governance and accounting functions.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Conflict of interests (including any competing business)
Nil
Working experience and occupation(s) during the past 10 years
November 2015 to December 2016 - Chief Financial Officer, Adcorp Holdings (Singapore) Pte. Ltd.
June 2015 to October 2015 - Group Director - Finance & Accounts (International Operations), Amtek Global Technologies Pte. Ltd.
March 2011 to March 2015 - Chief Financial Officer, Sembawang Engineers and Constructors Pte. Ltd.
February 2010 to March 2011 - VP-Corporate Finance & Administration, Sembawang Engineers and Constructors Pte. Ltd.
April 2009 to February 2010 - AVP- Corporate Finance, Sembawang Engineers and Constructors Pte. Ltd.
July 2007 to March 2009 - Senior Manager, Corporate Finance, Sembawang Engineers and Constructors Pte. Ltd.
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6))
Yes
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
# These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8).
Past (for the last 5 years)
Please see Annexure A
Present
Nil
(a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner?
No
(b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency?
Yes
If Yes, Please provide full details
From March 2011 to March 2015, Mr Sheth was the Chief Financial Officer of Sembawang Engineers & Constructors Pte Ltd ("SEC"). He ceased his employment with SEC on 5 March 2015.

For the period commencing from his appointment as Chief Financial Officer of SEC to the date falling 2 years after he ceased to be the Chief Financial Officer of SEC, the following petitions have been filed against SEC for the winding-up of SEC on the ground of insolvency:

1. 12 February 2015: Application for a winding-up order against SEC by Cementaid (S.E.A) Pte Ltd. This application was withdrawn on 6 March 2015.

2. 18 and 19 June 2015: Applications for a winding-up order against SEC by Wartsila Singapore Pte Ltd. These applications was withdrawn on 7 July 2015 and 17 August 2015.

3. 13 July 2015: Application for a winding-up order against SEC by GBA Projects Pty Ltd. This application was withdrawn on 23 July 2015.

4. 27 July 2015: Application for a winding-up order against SEC by MEC Engineering Private Limited. This application was dismissed on 27 June 2016.

5. 3 August 2015: Application for a winding-up order against SEC by Rigel Technology (S) Pte Ltd. This application was dismissed on 27 June 2016.
(c) Whether there is any unsatisfied judgment against him?
No
(d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose?
No
(e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach?
No
(f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part?
No
(g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust?
No
(h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust?
No
(i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity?
No
(j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-
(i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or
No
(ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or
No
(iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or
No
(iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust?
No
(k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere?
No
Disclosure applicable to the appointment of Director only.
Any prior experience as a director of a listed company?
No
If No, Please provide details of any training undertaken in the roles and responsibilities of a director of a listed company
Not Applicable

Attachments

Annexure A.pdf
Total size =17K