Change - Announcement of Cessation::Cessation of Lead Independent Non-Executive Director - Harry Ng Weng Sui

Issuer & Securities

Issuer/ Manager
MEDI LIFESTYLE LIMITED
Securities
MEDI LIFESTYLE LTD - SGXE63978766 - Z4D
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Apr-2024 07:41:19
Status
New
Announcement Sub Title
Cessation of Lead Independent Non-Executive Director - Harry Ng Weng Sui
Announcement Reference
SG240415OTHRX6FY
Submitted By (Co./ Ind. Name)
Herry Pudjianto
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Harry Ng Weng Sui ("Mr Harry Ng") as Lead Independent Non-Executive Director.

This announcement has been reviewed by the Company's sponsor, SAC Capital Private Limited ("Sponsor"). This announcement has not been examined or approved by the Singapore Exchange Securities Trading Limited ("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 Charmian Lim, at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542, telephone: (65) 6232 3210.

Additional Details

Name Of Person
Harry Ng Weng Sui
Age
68
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2024
Detailed Reason (s) for cessation
Mr Harry Ng has served on the Board of Directors (the "Board") for more than twelve years since his appointment as Director of the Company on 26 July 2011. As part of the board renewal process, Mr Harry Ng will be stepping down as Lead Independent Non-Executive Director of the Company upon conclusion of the forthcoming annual general meeting to be held on 30 April 2024. He will accordingly relinquish his position as Chairman of the Audit and Risk Committees and member of the Nominating and Remuneration Committees effective from 30 April 2024.

The Sponsor, after having interviewed Mr Harry Ng, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Mr Harry Ng as Lead 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?
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?
Yes
If Yes, Please provide full details
The Company is in the midst of identifying new independent director candidate and will endeavour to fill the vacancy in the Board Committees within 2 months, and in any case, no later than 3 months, to comply with Rules 406(3)(c) and 704(7) of the Catalist Rules.
Date of Appointment to current position
26/07/2011
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
1
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.)
- Lead Independent Non-Executive Director
- Chairman of Audit and Risk Committees
- Member of Nominating and Remuneration Committees
Role and responsibilities
Lead Independent Non-Executive Director, Chairman of Audit and Risk Committees and member of Nominating and Remuneration Committees.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
No
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
30,000 ordinary shares (representing 0.02% shareholding interest) in Medi Lifestyle Limited
Past (for the last 5 years)
Directorships
- HealthPro Pte. Ltd.
- IEV Energy Investment Pte. Limited
- IEV Technologies Pte. Ltd.
- HG Metal Manufacturing Limited

Other Principal Commitment
Nil

Present
Directorships
- HLM (International) Corporate Services Pte. Ltd.
- OxPay Financial Limited
- Q&M Dental Group (Singapore) Limited
- Oxley Holdings Limited

Other Principal Commitments
- Singapore Dental Council
- NCC Research Fund
- NCCS Cancer Fund