Appointment and Resignation of Directors
MakeMyTrip Limited (“MakeMyTrip”) announced on February 8, 2018 that Mr. Yuvraj (Raj) Thacoor, a nominee director of MIH Internet SEA Pte. Ltd. (“MIH Internet”), has notified the board of directors of MakeMyTrip of his intention to resign as a director of MakeMyTrip, effective May 7, 2018, and that the board of directors has accepted the same. Mr. Thacoor’s decision to resign was not a result of any disagreement with MakeMyTrip on any matter relating to its operations, policies or practices.
Following the resignation of Mr. Thacoor, MIH Internet has nominated Mr. Paul Laurence Halpin to the board of directors of MakeMyTrip, in accordance with the Terms of Issue of the Class B Shares. The board of directors has approved the appointment of Mr. Halpin effective April 30, 2018 and has further approved the change of effective date of resignation proposed by Mr. Thacoor to April 30, 2018.
Mr. Paul Laurence Halpin is an independent director of MakeMyTrip for the purposes of the Nasdaq Stock Market, Marketplace Rules. Mr. Halpin is a chartered accountant and a Fellow of the Institute of Chartered Accountants in Ireland. Mr. Halpin held various leadership positions in the financial services practice at PricewaterhouseCoopers from 1979 until 2004. Between 2004 to 2011, Mr. Halpin established and sold a number of international healthcare and insurance outsourcing businesses in Mauritius. He also served as a non-executive director on the Board of Investment (Mauritius) between 2005 to 2010. Mr. Halpin currently serves as an independent non-executive director on the boards of Gamma Civic Ltd, Kolos Cement Ltd and Lottotech Ltd., which are listed on the Stock Exchange of Mauritius. He also serves as an independent non-executive director of other unlisted companies and funds, including Gamma Construction Ltd, Citicc (Africa) Holdings Ltd, RMB Westport Real Estate Development Fund Ltd and several companies within the Multichoice International Holdings group. Mr. Halpin also serves as the general representative for Lloyd’s of London in Mauritius. Mr. Halpin holds a Bachelor of Commerce from University College Dublin. The business address of Mr. Halpin is 1st Floor, Riverview Commercial Centre, Les Gorges Road, Black River, Mauritius.
There will be no changes to the composition of the audit committee and the compensation committee as a result of such appointment and resignation of directors.