Change - Announcement of Cessation::Retirement of Chief Executive 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 Cessation
Date &Time of Broadcast
03-Jun-2022 17:52:00
Status
New
Announcement Sub Title
Retirement of Chief Executive Officer
Announcement Reference
SG220603OTHR1FZV
Submitted By (Co./ Ind. Name)
Chew Pei Tsing
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Chief Executive Officer

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 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. Foo Jien Jieng, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Khor Chin Kee
Age
60
Is effective date of cessation known?
Yes
If yes, please provide the date
01/07/2022
Detailed Reason (s) for cessation
Dr. Khor has been appointed as Chief Executive Officer of the Company since 1 June 2018 under service agreement. His current service agreement will expire on 30 June 2022. Dr. Khor's main task upon appointment was to drive the then on-going transformation initiatives. The Company has since turned around under Dr. Khor's leadership and Dr. Khor thought it would be apt for him to step down at this juncture, upon expiry of his service agreement so that a new candidate with a fresh skillset can come onboard to lead the Company in its next stage of development and growth.

After having interviewed Dr. Khor 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 other material reasons for the cessation of Dr. Khor as the 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
01/06/2018
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.)
Chief Executive Officer
Role and responsibilities
Dr Khor leads and oversees all decisions made by the Company, as well as the development of its strategy and direction.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest of 2,000,000 shares and deemed interest of 10,260 shares held by his wife, Dr Chong Bick Yew.
Past (for the last 5 years)
- Claas Medical Centre Pte. Ltd
- BCNG Holdings Pte. Ltd.
- Without Borders Pte. Ltd.
Present
- SBCC Clinic Pte Ltd
- Healthway Medical Group Pte Ltd
- Island Orthopaedic Consultants Pte Ltd
- Vista Medicare Pte. Ltd.
- Silver Cross Healthcare Pte Ltd
- Healthway Medical Enterprises Pte Ltd
- Unimedic Pte. Ltd.
- Healthway Dental Pte. Ltd.
- The Clinic @ One George Street Pte. Ltd.
- SBCC Women's Clinic Pte. Ltd.
- The Clinic @ Campus Pte. Ltd.
- The Clinic @ Fusionopolis Pte. Ltd.
- Mednefits Singapore Pte. Ltd.
- The Clinic @ Aperia Pte. Ltd.
- The Clinic @ Capitagreen Pte. Ltd.
- Mednefits Pte. Ltd.
- The Clinic @ Business City Pte. Ltd.
- UCare.IO Pte. Ltd.
- The Clinic @ Tai Seng Pte. Ltd.
- The Clinic @ Marina One Pte. Ltd.
- EBH Capital Pte. Ltd.
- The Clinic@ HF Pte. Ltd.
- Mednefits Holdings Pte. Ltd.