Change - Announcement of Cessation::Cessation of Steve Rhodes as Chief Executive Officer

Issuer & Securities

Issuer/ Manager
THE TRENDLINES GROUP LTD.
Securities
THE TRENDLINES GROUP LTD. - IL0011328858 - 42T
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Oct-2023 18:57:16
Status
New
Announcement Sub Title
Cessation of Steve Rhodes as Chief Executive Officer
Announcement Reference
SG231031OTHRJHTI
Submitted By (Co./ Ind. Name)
Haim Brosh
Designation
Joint Company Secretary
Description (Please provide a detailed description of the event in the box below)
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 Mr. Shervyn Essex, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318,sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Stephen Louis Rhodes ("Steve Rhodes")
Age
68
Is effective date of cessation known?
Yes
If yes, please provide the date
01/11/2023
Detailed Reason (s) for cessation
Steve Rhodes is stepping down from his position as Chief Executive Officer ("CEO") and Haim Brosh, currently the Company's Chief Financial Officer ("CFO"), is to be named CEO and interim CFO, with effect from 1 November 2023. This follows succession planning discussions with the Board as Steve had indicated his retirement plans, which were unanimously agreed upon by the Board. Steve is expected to remain as co-Chair of the Company for six months (notice period) following his cessation as a CEO, during which the Company is to search for and complete the appointment of a new Chair. After having interviewed Mr Steve Rhodes 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 material reasons for the retirement of Mr Steve Rhodes as Chief Executive Officer 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?
No
Date of Appointment to current position
01/05/2007
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chair and Chief Executive Officer
Role and responsibilities
Overall management of the Group s business operations (particularly, in the areas of finance and compliance reporting functions) and is also primarily responsible for the establishment of strategic partnerships in Europe and the United States.
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?
Yes
Shareholding Details
19,619,562
Other Directorships
Past (for the last 5 years)
ProArc Medical Ltd.
Vensica E.K. Therapeutics Ltd.
BIPS Medical Ltd.
Valentis Ltd.
Coralert Ltd.
Ceretrieve Ltd.
Advanced MemTech Ltd.
Tandem Technologies Ltd.
Intellibreath Ltd.
Medivalve Ltd.
OBsmart Ltd.
Mitrassist Ltd.
IonMed Ltd.
ETView Ltd.
SIL Vascular Ltd.
Trendlines Incubators Israel Ltd.
Zygofix Ltd.
OrthoSpin Ltd
LapSpace Medical Ltd
Present
Pregnantech Ltd.
Fruitspec Ltd.
Agroscout Ltd.
Leviticus Cardio Ltd.
EdenShield Ltd.
BioFishency Ltd.
MiRobot Ltd.
Saturas Ltd.
AquiNovo Ltd.
S.T.S Medical Ltd.
Hargol Foodtech Ltd.
Liberdi Ltd.
Algahealth (AH) Ltd.
Sentercare Ltd.
Trendlines Agtech-Mofet Ltd
Trendlines Venture Manangement Ltd
Trendlines Investments Israel Ltd.
Trendlines Group Ltd.
Vessi Medical Ltd.
Vvital Biomed Ltd.
CoreBone Ltd.
Viaqua Therapeutics Ltd.
Metomotion Ltd.
Technology Incubator Misgav/Karmiel, Management
Services Ltd.
Trendlines Agrifood Innovation Center Pte. Ltd.
Trendlines Agrifood Pte. Ltd
Trendlines Incubators Israel Ltd
Biopack Ltd.
GreenSpense Ltd.
T.D.L. International Directions Ltd.
NeuroQuest Ltd.
Sol Chip Ltd.
Stimatix GI Ltd.
Juvenis Ltd.
RealView Medical Ltd.