Change - Announcement Of Cessation Of Non-Independent Non-Executive Director
BackJun 06, 2019
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jun 6, 2019 18:38 |
| Status | New |
| Announcement Sub Title | Resignation of Non-independent Non-executive Director |
| Announcement Reference | SG190606OTHRIZCX |
| Submitted By (Co./ Ind. Name) | Tan Poh Lan |
| Designation | Executive Director and Group CEO |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Non-independent Non-executive Director |
| Additional Details | |
| Name Of Person | Chen Bing Chuen Albert |
| Age | 42 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 05/06/2019 |
| Detailed Reason (s) for cessation | Albert Chen is a nominee director of Global Cord Blood Corporation ("GCBC"), a substantial shareholder of the Company. Following the announcement on 4 June 2019 on the Company's Indicative Non-binding Proposal, GCBC had decided to withdraw its nominee director from the Board of Cordlife to avoid any potential conflict of interest. |
| 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 | 29/04/2016 |
| 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) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-independent Non-executive Director and a member of the Remuneration Committee. |
| Role and responsibilities | Roles and responsibilities of Non-Independent Non-Executive 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? | No |
| Past (for the last 5 years) | NIL |
| Present | 1.Global Cord Blood Corporation 2.Mag Ops Limited |