Change - Announcement of Cessation::Resignation of Director and Non-Independent Non-Executive Chairman - Hari Narayanan Govindasamy

Issuer & Securities

Issuer/ Manager
IEV HOLDINGS LIMITED
Securities
IEV HOLDINGS LIMITED - SG2D67974808 - 5TN
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
26-Nov-2020 19:20:53
Status
New
Announcement Sub Title
Resignation of Director and Non-Independent Non-Executive Chairman - Hari Narayanan Govindasamy
Announcement Reference
SG201126OTHR2ELH
Submitted By (Co./ Ind. Name)
Christopher Nghia Do
Designation
President and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Tan Sri Dato' Hari Narayanan Govindasamy as Director and Non-Independent Non-Executive Chairman

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
Hari Narayanan Govindasamy
Age
70
Is effective date of cessation known?
Yes
If yes, please provide the date
30/11/2020
Detailed Reason (s) for cessation
Tan Sri Dato Hari Narayanan Govindasamy ("Tan Sri Dato Hari") has tendered his resignation as Director and Non-Executive Chairman of the Board with effect from 30 November 2020 following completion of the disposal of IEV Group Sdn. Bhd. together with its wholly-owned subsidiaries and associated company as announced on 25 November 2020.

The Board of Directors and Management sincerely thank Tan Sri Dato' Hari for his invaluable contributions, dedication and commitment to the Group during his tenure of service.

SAC Capital Private Limited, after having interviewed Tan Sri Dato' Hari, is satisfied that other than as disclosed in this announcement, there are no material reasons for the resignation of Tan Sri Dato' Hari as Director and Non-Independent Non-Executive Chairman 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
29/09/2011
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
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Independent Non-Executive Chairman
Member of Audit, Nominating and Remuneration Committees
Role and responsibilities
Roles and responsibilities as a Non-Independent Non-Executive Chairman and member of Audit, Nominating and Remuneration Committees
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Tan Sri Dato' Hari and his spouse, Vimala J. Govindasamy are substantial shareholders of the Company and jointly hold 53,856,500 shares in the capital of the Company representing 10.93% of the Company's issued and paid-up share capital.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Medi Lifestyle Limited (f.k.a. IEV Holdings Limited)
Deemed Interest: 53,856,500 ordinary shares
Total interest held in the Company is 10.93%.
Past (for the last 5 years)
Puncak Niaga Holdings Berhad
Good Location Sdn Bhd
Emrail Consolidated Sdn. Bhd.
Alcabio One Sdn. Bhd.
Regal Match Sdn Bhd
Magniplan Sdn. Bhd.
Primadel Construction Sdn. Bhd.
PT IEV Gas
Present
IEV Energy Sdn. Bhd.
IEV Group Sdn. Bhd.
IEV International Limited
PT IEV Indonesia
Nurimekar Sdn. Bhd.
Noblemax Resources Sdn. Bhd.
Rekasemi Resources Sdn. Bhd.
Lingkaran Hartaniaga Sdn. Bhd.
Wynsupreme Sdn.Bhd.
Binamurni Property Sdn Bhd
Emrail Sdn. Bhd.
Emrail Engineering Sdn. Bhd.
Emrail International Sdn. Bhd.
Emrail Technologies Sdn. Bhd.
Emrail Management Sdn. Bhd.
Mid-Vector Consolidated Sdn Bhd
Kidex Sdn Bhd
PJD Link (M) Sdn. Bhd.
PJD Link Ltd
Nova Nusantara Holdings Sdn.Bhd.
Ace Fibre Cable Sdn Bhd
Agni Power Sdn Bhd