REG - MOH Nippon PLC - Directorate Changes and AGM Update

MOH NipponAnnouncement

11/10/2024 10:00

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RNS Number : 8850H  MOH Nippon PLC  11 October 2024

11 October 2024

 

MOH Nippon Plc

("MOH" or the "Company")

 

Directorate Changes and AGM Update

 

MOH Nippon Plc (LSE: MOH), a crowdfunding services provider for real estate
investment in Japan, announces changes to the Board and its committees.

 

On 10 October 2024, Mr Aamir Quraishi resigned as Non-Executive Chairman and
as a director of the Company, with immediate effect, in order to pursue other
business interests.

 

With effect from 11 October 2024, Mr Nigel Collins, an independent
non-executive director of the Company, has been appointed interim Chairman of
the board of directors and will Chair the Related Parties Committee.

 

In addition, Mr Allan Rowley, an independent non-executive director of the
Company, no longer intends to resign from the Board on 31 December 2024 (as
stated in the Company's prospectus dated 31 July 2024) and will remain in
place as a non-executive director. He will also be appointed as Chair of the
Audit Committee and become a member of the Related Parties Committee and
Remuneration Committee.

 

The Board has commenced a search to appoint an independent non-executive
director with UK capital markets experience to join the Board.

 

AGM Update

 

Following Mr Quraishi's resignation, he will not seek re-election at the
Company's Annual General Meeting to be held on 30 October 2024 ("AGM").
Accordingly, resolution four contained in the Notice of AGM will not be
proposed at the AGM. The withdrawal of resolution four does not otherwise
affect the validity of the Notice of AGM, the proxy form or any proxy votes
already submitted on other proposed resolutions. The numbering of all other
proposed resolutions at the AGM will remain unchanged, and arrangements for
the AGM remain unchanged from those previously notified.

 

Hoken Yanase, CEO of MOH, said: "On behalf of the Board, I would like to thank
Aamir for his contribution to the Company over the past two and a half years.
He co-founded the Company and under his stewardship, we acquired, via reverse
takeover, Minnadeooyasan-Hanbai Co. Ltd, becoming the first company with its
business and operations in Japan to list its shares on the Main Market in
over 20 years. Aamir was instrumental in the success of this transaction,
navigating several complex cross-border challenges. During his time as
Chairman, he has overseen a more than six-fold increase in the share price,
creating significant value for shareholders. We wish him all the best with his
future endeavours."

 

Aamir Quraishi added: "It has been a pleasure to work with the team at MOH
along with our advisers and other stakeholders, and I am proud of what we have
achieved together. MOH is now a well-established business that is positioned
for growth, both in Japan and internationally, and I wish Hoken-san and the
team continued success."

 

 

Enquiries

 

 MOH Nippon Plc
 Frankie Leung, Chief Financial Officer  c/o +44 (0)20 4582 3500

 Cairn Financial Advisers LLP
 Emily Staples                           +44 (0)20 7213 0897
 Jo Turner                               +44 (0)20 7213 0885

 Gracechurch Group
 Harry Chathli, Claire Norbury           +44 (0)20 4582 3500

 

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