Change - Announcement of Cessation::Retirement of Lead Independent Director, Mr Eric Ang Teik Lim

Issuer & Securities

Issuer/ Manager
RAFFLES MEDICAL GROUP LTD
Securities
RAFFLES MEDICAL GROUP LTD - SG1CH4000003 - BSL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
22-Apr-2024 18:26:27
Status
New
Announcement Sub Title
Retirement of Lead Independent Director, Mr Eric Ang Teik Lim
Announcement Reference
SG240422OTHRIBUB
Submitted By (Co./ Ind. Name)
Kimmy Goh
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Eric Ang Teik Lim as a Non-Executive and Lead Independent Director, a member of the Audit & Risk Committee and the Nomination & Compensation Committee.

Additional Details

Name Of Person
Mr Eric Ang Teik Lim
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
26/04/2024
Detailed Reason (s) for cessation
As part of the Board rejuvenation process and good corporate governance practice, Mr Eric Ang Teik Lim will retire from the Board on 26 April 2024 after having served 9 years as an Independent Director including as Lead Independent Director since 1 January 2022 and on various Board Committees during his tenure of service.

Upon his retirement, Mr Ang will also cease to be the Non-Executive and Lead Independent Director, a member of the Audit & Risk Committee and the Nomination & Compensation Committee of the Company.

The Board of Directors and the Company would like to record our deepest gratitude and appreciation to Mr Ang for his invaluable contributions and guidance during his tenure as a Non-Executive and Lead 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
24/04/2015
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)
6
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director wef 1 Jan 2022;
Audit & Risk Committee member wef 1 Jan 2022; and
Nomination & Compensation Committee member wef 1 Jan 2022.
Role and responsibilities
Non-Executive and Lead Independent Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct interest: 15,000 Raffles Medical Group Ltd Ordinary Shares

Deemed interest: Nil

1,030,000 share options (vested and unvested)
granted pursuant to the Raffles Medical Group (2020) Share Option Scheme
Past (for the last 5 years)
1. Sembcorp Marine Ltd, now known as Seatrium Limited (Non-Executive and Lead Independent Director)
2. Changi Airport Group (Singapore) Pte Ltd (Director)
3. DBS Foundation Ltd (Director)
4. Netlink NBN Management Pte Ltd (Independent Director)
Present
1. Raffles Medical Group Ltd (Non-Executive and Lead Independent Director)
2. Wing Tai Holdings Limited (Non-Executive and Lead Independent Director)
3. Surbana Jurong Private Limited (Independent Director)