NEMAURA MEDICAL, INC. (OTCMKTS:NMRD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

NEMAURA MEDICAL, INC. (OTCMKTS:NMRD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

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On July 17, 2017, the Board of Directors of the Registrant appointed Mr. Timothy Johnson as an independent director to serve on the Board of Directors, and on the Audit, Compensation and Nominating and Corporate Governance Committees. Mr. Johnson will serve as chair of the Audit and Nominating and Corporate Governance Committees.

Mr. Johnson is currently a Director at Diagnostax Advisory, a digital management consultancy, and has built up a decade of insight and experience bringing new products and technologies to established markets. He is a practicing Chartered Tax Adviser and earned his first class Masters of Science in Mathematics and Physics from the University of Manchester, UK.

Mr. Johnson shall receive compensation in the amount of £1,250 (approximately USD1620) for each quarter per calendar year for his service on the Board, inclusive of his committee service. In addition, the Registrant shall issue Mr. Johnson stock options to purchase up to 20,000 shares of the Company’s common stock on an annual basis. The initial issuance of such stock options shall be awarded on the date of the Registrant’s first public offering at an exercise price equal to the public offering price for such offering.

There are no family relationships between Mr. Johnson and any of the officers of director of the Company. Mr. Johnson has not engaged in any related party transactions.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.

Description

10.1

Form of Director Agreement


Nemaura Medical Inc. Exhibit
EX-10.1 2 ex10x1.htm EXHIBIT 10.1 Exhibit 10.1     NEMAURA MEDICAL,…
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About NEMAURA MEDICAL, INC. (OTCMKTS:NMRD)

Nemaura Medical, Inc. is a holding company. The Company owns a diagnostic medical device company specializing in discovering, developing and commercializing specialty medical devices. The Company’s focus is on the development of a continuous glucose monitoring (CGM) device, which consists of a disposable patch containing a sensor, and a non-disposable miniature electronic watch with a re-chargeable power source. CGM through a non-invasive patch can enable early detection of subtle changes in blood glucose levels. The Company, through its operating subsidiaries, performs medical device research and manufacturing of a CGM, named sugarBEAT. The sugarBEAT device is a non-invasive, wireless device for use by persons with Type I and Type II diabetes, and may also be used to screen pre-diabetic patients. The sugarBEAT device extracts analytes, such as glucose, to the surface of the skin in a non-invasive manner where it is measured using sensors and interpreted using an algorithm.

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