IHC - Change - Announcement of Appointment::Appointment of Group Chief Executive Officer
Announcement Type: Announcement of Appointment
Company: INTL HEALTHWAY CORP LIMITED
Stock Code/Name: 5WA - IHC
Company: INTL HEALTHWAY CORP LIMITED
Stock Code/Name: 5WA - IHC
| Change - Announcement of Appointment::Appointment of Group Chief Executive Officer |
| 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 Appointment |
| Date & Time of Broadcast | 17-May-2015 10:00:24 |
| Status | New |
| Announcement Sub Title | Appointment of Group Chief Executive Officer |
| Announcement Reference | SG150517OTHRIUG1 |
| Submitted By (Co./ Ind. Name) | Dr Jong Hee Sen |
| Designation | Non-Executive Chairman |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Group Chief Executive Officer International Healthway Corporation Limited (the "Company") was listed on Catalist of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 8 July 2013. The initial public offering of the Company was sponsored by PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). This announcement has been prepared by the Company and its contents have been reviewed by the Sponsor for compliance with 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 |
| Date Of Appointment | 17/05/2015 |
| Name Of Person | Fan Kow Hin |
| Age | 59 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) | Upon the recommendation of the Nominating Committee, which had reviewed the qualifications and experience of Mr Fan Kow Hin, the Board of Directors approved his appointment as Group Chief Executive Officer of the Company. |
| Whether appointment is executive, and if so, the area of responsibility | Executive appointment. Responsible for the Group's healthcare services thrust into overseas markets, the development of medical real estate and organisational capabilities. |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Group Chief Executive Officer |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Conflict of interests (including any competing business) | Nil |
| Working experience and occupation(s) during the past 10 years | 2007 to May 2015: Executive Chairman, Healthway Medical Corporation Limited 2005 to 2007: Executive Chairman, Universal Healthway Pte. Ltd. 2003 to 2005: Executive Director, Universal Gateway International Pte. Ltd. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Fan Kow Hin has a direct interest in 25,130,000 shares in the capital of International Healthway Corporation Limited ("Shares"). He is deemed interested in the 263,130,105 Shares held by Golden Cliff International Limited ("Golden Cliff"), 10,616,258 Shares held by One Organisation Limited ("OOL") and 5,503,237 shares held by One Organisation Pte Ltd ("OOPL"), by virtue of his shareholdings in Golden Cliff, OOL and OOPL. Mr Fan Kow Hin is also deemed interested in 157,446,543 Shares held in the name of a nominee account and 26,750,811 Shares held by a shareholder of the Company ("Shareholder") pursuant to the Put and Call Option Deed of Undertakings entered into between Mr Fan Kow Hin and the Shareholder. |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | Please see Annexure A |
| Present | Please see Annexure A |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | Yes |
| If Yes, Please provide full details | Mr Fan was a director of Healthway Medical Corporation Limited ("HMC"), a company listed on the Singapore Exchange Securities Trading Limited ("SGX") since its incorporation to 5 May 2015. On 14 December 2012, the SGX released a regulatory announcement stating that they had concluded, after investigations, that an announcement issued by HMC on 14 July 2009, on the appointment of Dr Lu Jiade as an independent director was inaccurate pursuant to Catalist Rule 704(6). The announcement failed to disclose disciplinary proceedings and actions against Dr Lu while he was practicing as a doctor in the US. The board of HMC had relied significantly on the declaration from Dr Lu for the announcement, given his seniority and professional standing in established medical and academic institutions. Dr Lu admitted that the inaccurate declaration was an error on his part and arose due to his limited corporate experience prior to his appointment. Dr Lu has resigned from the board of HMC effective 22 March 2012. |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | No |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of a listed company? | Yes |
| If Yes, Please provide details of prior experience | Mr Fan was previously the Executive Chairman of Healthway Medical Corporation Limited |
| Attachments |
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