Change - Announcement of Appointment::RE-Designation of Non-Executive to Executive Director

Issuer & Securities

Issuer/ Manager
MEDTECS INTERNATIONAL CORP LTD
Securities
MEDTECS INTERNATIONAL CORP LTD - BMG5958R1043 - 546
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Appointment
Date &Time of Broadcast
05-Jul-2016 18:45:17
Status
New
Announcement Sub Title
RE-Designation of Non-Executive to Executive Director
Announcement Reference
SG160705OTHRYTBG
Submitted By (Co./ Ind. Name)
CLEMENT YANG KER-CHENG
Designation
EXECUTIVE CHAIRMAN
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, R & T Corporate Services Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("Exchange"). The Sponsor has not independently verified the contents of this announcement including the accuracy or completeness of any of the figures used, statements, opinions or other information made or disclosed.

This announcement has not been examined or approved by the Exchange. The Sponsor and the Exchange assume 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 persons for the Sponsor are Ms Evelyn Wee (Telephone Number: +65 6232 0724) and Mr Howard Cheam Heng Haw (Telephone Number: +65 6232 0685), R & T Corporate Services Pte. Ltd., at 9 Battery Road #25-01, Straits Trading Building, Singapore 049910.

Additional Details

Date Of Appointment
05/07/2016
Name Of Person
Xia Junwei
Age
46
Country Of Principal Residence
Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process)
The Board, having considered the recommendations of the NC and reviewed the working experience and suitability of Mr Xia, who is currently a non-executive and non-independent director, is satisfied that Mr Xia possesses the requisite experience and competencies to assume the duties and responsibilities as an Executive Director ("ED") and Mr Xia will accordingly be re-designated as an ED ("Re-designation"). The Board is of the view that the Re-designation would not result in a transfer of control in the Company on the following basis: (a) Since the completion of the private placement of shares to Mr Xia which took place in October 2015, Mr Xia presently holds below 15% of the total number of issued shares in the Company; and (b) Mr Xia is not factually controlling the Company even after his Re-designation to an ED as he only has a single board seat on the Board (currently comprises 7 directors), and it remains that he is not entitled to any other right to, and does not intend to, appoint any additional senior management or Directors to form majority of the Board of the Company. The NC further noted that the Chairman, Mr Clement Yang, and the other EDs are supportive of the Re-designation. The NC thus supported the Re-designation of Mr Xia as an ED and that the Re-designation would not result in a change of control in the Board as well. In view of the foregoing, the Sponsor is also of the view that the Re-designation would not result in a transfer of control in the Company.
Whether appointment is executive, and if so, the area of responsibility
Executive, Management.
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director
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
See attached.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
81,862,275 shares (deemed interest) in the Company.
# 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)
See attached.
Present
See attached.
(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?
No
(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
Any prior experience as a director of a listed company?
Yes
If Yes, Please provide details of prior experience
Currently a Non-Executive and Non-Independent Director of the Company.

Attachments

XJW.pdf
Total size =252K