14/08/2024 | Press release | Distributed by Public on 15/08/2024 02:01
Item 5.01 Changes in Control of Registrant
On August 12, 2024, Leong Weng Fong acquired a controlling equity stake in MEDIES (the "Company") through a privately negotiated transaction. Mr. Leong purchased 4,300,000 shares of the Company's common stock, consequently Mr. Leong is now able to unilaterally control the election of the board of directors, all matters requiring shareholder approval, and the overall direction of the Company.
Additionally, on August 12, 2024, Kenneth Tindall resigned from all executive officer positions with the Company, including CEO, CFO, Treasurer, Director and Secretary, effective immediately. Similarly, on the same date, Simon Kidd resigned from his role as the Company's Executive Vice Chairman, effective immediately.