Change - Announcement of Cessation::Cessation as Non-Executive Director and Chairman of the Board

Issuer & Securities

Issuer/ Manager
S I2I LIMITED
Securities
S I2I LIMITED - SG1BD0000008 - BAI
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
05-Apr-2018 00:13:56
Status
New
Announcement Sub Title
Cessation as Non-Executive Director and Chairman of the Board
Announcement Reference
SG180405OTHRVAU7
Submitted By (Co./ Ind. Name)
Maneesh Tripathi
Designation
Executive Director and Group CEO
Description (Please provide a detailed description of the event in the box below)
Cessation as Non-Executive Director and Chairman of the Board

Additional Details

Name Of Person
Dr Bhupendra Kumar Modi ("Dr Modi")
Age
69
Is effective date of cessation known?
Yes
If yes, please provide the date
06/04/2018
Detailed Reason (s) for cessation
Resignation due to personal preoccupations and his plans to pursue philanthropic endeavours in the quest for building a better society and work towards the greater good.
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
01/09/2015
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
4
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Director and Chairman of the Board
Role and responsibilities
Non-Executive Director and Chairman of the Board, a member of Audit Committee, Nominating Committee and Remuneration Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Dr Modi is father of Mr. Dilip Modi ("DLM") and Ms. Divya Tongya ("DYT"), substantial shareholders of the Company. He is also a substantial shareholder of the Company.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Dr Modi is deemed to be interested in 4,561,251 shares comprising the following:

(a) 3,638,921 shares held directly by S Global Innovation Centre Pte Ltd as S Global Innovation Centre Pte Ltd is controlled by Dr Modi, DLM and DYT. By virtue of Section 7 of the Companies Act, Smart Global Corporate Holding Private Ltd (formerly "Spice Global Investments Pvt Ltd"), Global Tech Innovations Ltd (formed by the amalgamation of Orion Telecoms Ltd, Dai (Mauritius) Company Ltd, Falcon Securities Ltd, Guiding Star Ltd and Christchurch Investments Ltd), S Global Holdings Ltd, Prospective Infrastructure Pvt Ltd (now merged with Smart Global Corporate Holding Private Ltd) and Spice Connect Private Ltd (formerly "Smart Ventures Private Ltd") are deemed to be interested in the 3,638,921 shares held through S Global Innovation Centre Pte Ltd;

(b) 410,660 shares held directly by Smart Co Holding Pte Ltd (formerly "S Global Holdings Pte Ltd") as Smart Co Holding Pte Ltd is wholly-owned by Dr Modi;

(c) 468,670 shares held directly by Spice Bulls Pte Ltd as Spice Bulls Pte Ltd is wholly-owned by Smart Co Holding Pte Ltd, which is in turn wholly-owned by Dr Modi; and

(d) 43,000 shares held directly by Innovative Management Pte Ltd as Innovative Management Pte Ltd is wholly-owned by Dr Modi.
Past (for the last 5 years)
1. Affinity Capital Pte Ltd
2. Armorcoat Technologies Pte Ltd
3. Mineworks Private Limited
4. Modipur Devices Private Limited
5. Newtel Corporation Co. Ltd
6. PT Selular Global Net
7. S GIC Pte Ltd
8. S Global Holdings Pte Ltd
9. S Global Innovation Centre Pte Ltd
10. S Mobility Limited
11. S Mobility Pte Ltd
12. Smart Ventures Private Limited
13. Smartglobal Ventures Private Limited
14. Smartvalue Ventures Private Limited
15. Spice Impex Private Limited
16. Spice Circle Pte Ltd
17. Spice Innovative Technologies Pvt Ltd
18. Spice-CSL Pte Ltd
19. Spice Connect Private Ltd
20. Singapore Electric Vehicle Pte Ltd
Present
1. G M Modi Hospitals Corporation Pvt. Ltd (now known as Saket City Hospitals Pvt. Ltd.)
2. Smart Co. Holdings Pte. Ltd.
3. M Corp Investments Pte. Ltd.
4. Smat Wow Pte. Ltd
5. Spice Global Pte. Ltd
6. Spice Bulls Pte. Ltd.
7. Smart Health City Pte. Ltd.
8. SmoothRise Enterprises Pte. Ltd.
9. Innovative Management Pte. Ltd.
10. Dr. M Pte Ltd