Change - Announcement of Cessation::Retirement of Independent Non-executive Director
Issuer & Securities
MEDINEX LIMITED - SGXE82839874 - OTX
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Retirement of Independent Non-executive Director
Submitted By (Co./ Ind. Name)
Jessie Low Mui Choo
Executive Director and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Suresh Kumar as an Independent Non-executive Director of the Company.
Medinex Limited (the "Company") was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 7 December 2018. The initial public offering of the Company was sponsored by Novus Corporate Finance Pte. Ltd. (the "Sponsor").
This announcement has been prepared by the Company and reviewed by the Sponsor, in compliance with Rule 226(2)(b) of 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 Mr. Pong Chen Yih, Chief Operating Officer, at 9 Raffles Place, #17-05 Republic Plaza Tower 1, Singapore 048619, telephone (65) 6950 2188.
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
Mr. Suresh Kumar will be retiring under Regulation 102 of the Company's constitution at the forthcoming Annual General Meeting to be held on 25 August 2020 and will be stepping down as Chairman of the Nominating Committee and member of the Audit Committee and the Remuneration Committee. He will not be seeking re-election to focus on his work commitments.
After having interview Mr. Suresh Kumar 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 material reasons for the cessation of Mr. Suresh Kumar as an Independent Non-executive Director.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-executive Director, Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee
Role and responsibilities
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
Lazarus Centre Pte. Ltd.
Lazarus Consultants Pte. Ltd.