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 OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
On July 26, 2017, the Board of Directors of the Registrant appointed Dr. Salim Natha as an independent director to serve on the Board of Directors and to chair the Compensation Committee.
Dr. Natha is an Ophthalmic Surgeon serving as a Consultant for Wrightington Wigan and Leigh NHS Foundation Trust Hospital, a position he has held since October 1, 2001. Dr. Natha graduated with honors from the University of Liverpool Medical School in 1992, and in 1997 became a Fellow of the Royal College of Ophthalmologists.
Dr. Natha 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 Dr. Natha 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 Dr. Natha and any of the officers of director of the Company. Dr. Natha has not engaged in any related party transactions.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit No. |
Description |
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10.1 |
Form of Director Agreement |
Nemaura Medical Inc. ExhibitEX-10.1 2 ex10x1.htm EXHIBIT 10.1 Exhibit 10.1 NEMAURA MEDICAL,…To view the full exhibit click here
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.