Nemaura Medical Inc. filed SEC Form 8-K: Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Nemaura Medical Inc. (the “Company”) has taken measures to reduce overhead and enhance operating efficiency by outsourcing the bulk of its operations. While the majority of manufacturing activities were already outsourced from the outset, the Company is now seeking to outsource its remaining operations, specifically sensor production, to a contract manufacturing organization. In connection therewith, on May 1, 2024, the Company issued termination notices to staff, including Arash Ghadar, the Company’s Chief Operating Officer. Consistent with the terms of Mr. Ghadar’s employment agreement, the effective date of Mr. Ghadar’s termination was November 1, 2024.
On September 20, 2024, Arash Ghadar requested early termination of his employment agreement and the Company agreed. Accordingly, Mr. Ghadar resigned his position as the Company’s Chief Operating Officer on September 20, 2024.
In addition, on September 21, 2024, Asim Butt resigned his position as a member of the Company’s Board of Directors. Mr. Butt’s resignation was not because of a disagreement with the Company on a matter relating to the Company’s operations, policies or practices.
Item 7.01. Regulation FD Disclosure.
The Company remains committed to aligning its resources with its operational strategy to position itself for future growth.
The Company continues to seek partnerships and non-dilutive funding where possible, including through license fees or potential acquisitions, and is actively engaged in discussions with prospective partners.
The Company’s Chief Executive Officer, Dr. Faz Chowdhury, will be presenting at the Alliance Bernstein CGM Disruptors virtual conference on September 26, 2024.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded with the Inline XBRL document | |
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NEMAURA MEDICAL INC. | ||
| Date: September 26, 2024 | By: | /s/ Dewan F.H. Chowdhury |
| Dewan F.H. Chowdhury Chief Executive Officer |
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