Change - Announcement of Cessation::CESSATION OF INDEPENDENT DIRECTOR

Issuer & Securities

Issuer/ Manager
AXINGTON INC.
Securities
AXINGTON INC. - MYA012218006 - 42U
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Jul-2020 02:03:17
Status
New
Announcement Sub Title
CESSATION OF INDEPENDENT DIRECTOR
Announcement Reference
SG200715OTHRS3QF
Submitted By (Co./ Ind. Name)
Dato' Peter Tang Swee Guan
Designation
Deputy Executive Chairman and Executive Director
Description (Please provide a detailed description of the event in the box below)
CESSATION OF INDEPENDENT DIRECTOR.

This announcement has been prepared by Axington Inc. (the "Company") and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(b) of the Singapore Exchange Securities Trading Limited ("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 Mr. Pong Chen Yih, Chief Operating Officer, 9 Raffles Place, #17-05 Republic Plaza Tower 1, Singapore 048619, telephone (65) 6950 2188.

Additional Details

Name Of Person
Datin Isharidah Binti Ishak
Age
58
Is effective date of cessation known?
Yes
If yes, please provide the date
14/07/2020
Detailed Reason (s) for cessation
Board reconstitution following the close of the mandatory unconditional cash offer by Dorr Global Healthcare International Pte. Ltd.

After having interviewed Datin Isharidah Binti Ishak ("Datin Isharidah") and to the best of its knowledge, the Company's sponsor, Novus Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Datin Isharidah as the Independent Director 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
21/10/2015
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
8
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of Nomination Committee, a member of the Audit Committee and Remuneration Committee.
Role and responsibilities
In accordance with the terms of reference of the respective Board Committees and the listing rules.
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?
No
Past (for the last 5 years)
Sierra Permai Sdn. Bhd.
Present
Practising as a Consultant Advocate & Solicitor in M/S Isharidah, Ho, Chong & Menon, Advocate & Solicitors.
Countertrade (Malaysia) Sdn. Bhd.