Two more Directors of Alpha DX resign

Two more directors of learning-solutions firm Alpha DX Group have resigned, bringing the total number of non-executive directors who have resigned in the last two weeks to four.

In the resignation notices filed with the Singapore Exchange, all four have unsettled differences of opinion with the board of directors on material matters, according to a report by The Business Times.

The Singapore Exchange listed company has three remaining directors, one of them is an independent director, and its audit committee currently does not have any members.

Alpha DX Group provides education platforms and professional training solutions in learning and education sector.

Alpha DX stated that it will work to fill the audit committee vacancy within two months, and in any case within three months, in order to comply with SGX listing rules. It is also working to fill vacancies on the remuneration and nominating committees, each of which currently has only one member.

According to filings on Wednesday, Chew Yean Nee and Fabian Sven Bahadur Scheler will cease to be directors effective immediately.

On February 28, Alpha DX independent directors Chang Chi Hsung and Max Ng Chee Weng resigned, effective February 25. Chang also served as chairman of the audit committee.

The filings stated that the directors disagreed with management on the administration and timeliness of certain disclosures and shareholder announcements, referring to a Feb 25 announcement of a letter of demand from Kydon Holdings, the report adds.

A notice of statutory demand from the lawyers for Kydon Holdings asked for the payment to be made within 3 weeks after receipt of the notice. The company may take winding up action against Alpha DX if the demand is not met.

Meanwhile, its sponsor has notified the company of its intent to terminate sponsorship.