Change - Announcement of Cessation::Cessation of Non-Executive Non-Independent Director

Issuer & Securities

Issuer/ Manager
INTERNATIONAL HEALTHWAY CORPORATION LIMITED
Securities
INTL HEALTHWAY CORP LIMITED - SG2F86994413 - 5WA
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
23-Dec-2016 06:58:07
Status
New
Announcement Sub Title
Cessation of Non-Executive Non-Independent Director
Announcement Reference
SG161223OTHRS0XK
Submitted By (Co./ Ind. Name)
Lim Beng Choo
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Non-Executive Non-Independent Director

This announcement has been prepared by International Healthway Corporation Limited (the "Company") and its contents have been reviewed by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"), for compliance with the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist. The Sponsor has not verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST. The Sponsor and the SGX-ST assume no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Gillian Goh, Director, Head of Continuing Sponsorship, at 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, telephone (65) 6229 8088.

Additional Details

Name Of Person
Dr. Jong Hee Sen
Age
57
Is effective date of cessation known?
Yes
If yes, please provide the date
22/12/2016
Detailed Reason (s) for cessation
Dr Jong Hee Sen resigned as he feels that he could not effectively act as a Director given the shareholders tussle. The Company's sponsor PrimePartners Corporate Finance Pte. Ltd. ("PPCF") notes that certain shareholders of the Company has requisited for the removal of certain board of directors of the Company, as announced on the SGXNet on 31 October 2016. Based on its enquiries, PPCF is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Dr Jong Hee Sen as Non-Executive Non-Independent Director 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
18/02/2013
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
6
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive Non-Independent Director
Role and responsibilities
Non-Executive Non-Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest - 8,620,098 shares of International Healthway Corporation Limited

Dr Jong Hee Sen is deemed interested in the 3 Shares held by his nominee account and 8,994,800 Shares by his wife, Lee Cher Leng.
Past (for the last 5 years)
Please see Annexure A
Present
Please see Annexure A

Attachments

Annexure A.pdf
Total size =322K