Change - Announcement of Cessation::Cessation of Key Executive Officer - Dr Lin Chung Chieh Eugene

Issuer & Securities

Issuer/ Manager
ASIA VETS HOLDINGS LTD.
Securities
ASIA VETS HOLDINGS LTD. - SG2B95959500 - 5RE
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Jun-2021 18:40:02
Status
New
Announcement Sub Title
Cessation of Key Executive Officer - Dr Lin Chung Chieh Eugene
Announcement Reference
SG210616OTHRUTQ7
Submitted By (Co./ Ind. Name)
Asia Vets Holdings Ltd./Tan Tong Guan
Designation
Executive Chairman & CEO
Description (Please provide a detailed description of the event in the box below)
Announcement of the Cessation of Dr Lin Chung Chieh Eugene as Key Executive Officer of the Company.

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the "Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the 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. Goh Mei Xian, Associate Director, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.

Additional Details

Name Of Person
Lin Chung Chieh Eugene (Lin Zhongjie Eugene)
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
12/09/2021
Detailed Reason (s) for cessation
Dr Lin Chung Chieh Eugene ("Dr Eugene Lin") had, in March 2021, tendered his resignation ("Resignation") as the Medical Director and General Manager of the Company's subsidiary, AVH Animal Ark Pte. Ltd. ("AVH Animal"), to take a break and pursue personal interests after working as a veterinary surgeon for 20 years. Upon receipt of the Resignation, the board of directors of the Company ("Board") requested Dr Eugene Lin to reconsider his decision to resign.

On 11 June 2021, Dr Eugene Lin reaffirmed his decision to leave, and informed the Board. The Board accepted the Resignation on 13 June 2021.

Dr Eugene Lin is currently serving his notice period and pursuant to mutual agreement with the Company, his last day of employment will be 11 September 2021. For the avoidance of doubt, Dr Eugene Lin will remain as the Medical Director and General Manager of AVH Animal, and will continue to fulfill his role and responsibilities (as detailed below) to ensure smooth functioning of the operations of the veterinary clinics under AVH Animal, until the effective date of his Resignation (i.e. 12 September 2021). The Company will commence the search for a suitable replacement for Dr Eugene Lin, and will make the necessary announcement when a suitable candidate is appointed.

The Sponsor, after having interviewed Dr Eugene Lin, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the Resignation of Dr Eugene Lin as Medical Director and General Manager of AVH Animal.

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
13/08/2018
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)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Medical Director and General Manager of AVH Animal
Role and responsibilities
Dr Eugene Lin is responsible for overseeing the delivery of veterinary care and clinical services by the veterinary clinics under AVH Animal. Dr Eugene Lin is also the principal veterinary surgeon who leads and guides the Group in the development of medical protocols and in the maintenance of quality service as well as oversees the Group's team of clinical staff.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Spouse of Ms Poh E-lynn Elaine (Fu Yilin Elaine), a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest - 7,514,847 ordinary shares in the Company

Deemed Interest - 7,514,847 ordinary shares in the Company
Past (for the last 5 years)
The Animal Ark Pte. Ltd.
The Animal Ark (Binjai) Pte. Ltd.
The Animal Ark (Tampines) Pte. Ltd.
The Animal Ark (TCM) Pte. Ltd.
Present
Elands Bay Pte Ltd
Elands Ridge Pte Ltd
Elands Cove Pte Ltd
Elands Peak Pte Ltd