4 October 2016
("DagangHalal" or the "Company")
Directorate Changes and Suspension of Trading
DagangHalal, the world's first global e-marketplace to address the need for Halal verification, announces the following changes to its Board of Directors following the Company's Annual General Meeting ("AGM") that was help today, Tuesday 4 October 2016.
At the AGM, the following Directors were not re-elected: Mohamed Hazli Mohamed Hussain, John Croft and Kashif Aslam. All other resolutions put to the meeting were duly passed.
Following the directorate changes the Board now comprises the following Directors:
· YBhg. Datuk Haji Muhadzir bin Mohd Isa ("Datuk Haji Muhadzir"), Non-Executive Chairman and co-founder
· Francis Chong, Managing Director and co-founder
· Charles Ng, Independent Non-executive Director
A search for a replacement for Mohamed Hazli Mohamed Hussain has commenced. In the interim period, Francis Chong, Managing Director and co-founder, has assumed the role of CEO with immediate effect.
As a consequence of the changes made to the Board of Directors at the AGM, the Company has requested that ISDX Regulation suspends trading in the Company's ordinary shares (pursuant to Rule 78) with immediate effect pending further information as to the Company's proposed plans regarding board composition.
The Company will update shareholders as the matter progresses and further announcements will be made at the appropriate time.
For further information, please contact:
DagangHalal via FTI Consulting
Rizal Alang Zari, Chief Financial Officer
Arden Partners +44 (0)20 7614 5900
James Felix / Patrick Caufield (Corporate Finance)
Optiva Securities +44 (0)20 3137 1902
FTI Consulting +44 (0) 20 3727 1000
Chris Lane / Rob Mindell /Elena Kalinskaya
This information is provided by RNS