SUSPENSION OF GROUP CHIEF EXECUTIVE OFFICER
TMC LIFE SCIENCES BERHAD |
Type | Reply to Query |
Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-30012024-00001 |
Subject | SUSPENSION OF GROUP CHIEF EXECUTIVE OFFICER |
Description | TMC Life Sciences Berhad ("the Company") - Suspension of Group Chief Executive Officer |
Query Letter Contents | We refer to your Company’s announcement dated 29 January 2024, in respect of the aforesaid matter.
1) To clarify the circumstances/reasons leading to the suspension of Puan Wan Nadiah Binti Wan Mohd Abdullah Yaakob as the Group Chief Executive Officer.
2) To briefly clarify the next course of action to be taken by the Company arising from the suspension and to indicate the estimated timeline to resolve the matter.
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully, Regulation Cc : Market Surveillance Dept. , Securities Commission |
With reference to the announcement made on 29 January 2024 and the query raised by Bursa Malaysia Securities Berhad by way of its letter of 30 January 2024, on behalf of the Company, the Board of Directors (“the Board”) wishes to clarify that the suspension of Puan Wan Nadiah Binti Wan Mohd Abdullah Yaakob (“Puan Wan Nadiah”) is to facilitate internal disciplinary process relating to allegations stated in a show cause letter issued to her on 29 January 2024. Puan Wan Nadiah has been given 7 days (up to 5 February 2024) to submit her written reply to the said show cause letter. If she requires more time, Puan Wan Nadiah may be granted an additional 7 days to submit her written reply. If submitted within the time permitted, her written reply to the show cause letter will then be considered and deliberated to determine whether the next course of action in the disciplinary process is necessary. Mindful of the proceedings applicable by law and considering that several factors usually determine and dictate the exact time frame involved, the Board is unable, at this juncture, to estimate the timeframe involved to resolve this matter.
The Board took the view that in light of the on-going disciplinary process, the outcome of which can only be determined at a later date as well as the confidentiality surrounding the allegations, immediate disclosure of the facts or circumstances regarding the suspension would prejudice the outcome of the disciplinary process. Furthermore, the facts of the matter are still in a state of flux and a more appropriate moment for disclosure is imminent. The Board wishes to assure Bursa Malaysia Securities Berhad that future announcement(s) will be made at the appropriate moment. The Board wishes to give further assurance that every step is taken to maintain this matter at its strictest confidentiality.
This announcement is dated 31 January 2024. |
Announcement Info
Company Name | TMC LIFE SCIENCES BERHAD |
Stock Name | TMCLIFE |
Date Announced | 31 Jan 2024 |
Category | General Announcement for PLC |
Reference Number | GA1-31012024-00029 |