Contract concerns spark board exit at Rex International

Beverley Ann Smith steps down over subsidiary contract review and approval issues.

Rex International Holding Limited announced that independent non-executive director Beverley Ann Smith has resigned, effective 12 February 2026.

The group noted there were unresolved differences in opinion on material matters between Smith and the board, according to a bourse filing dated 19 February.

Smith had raised concerns relating to the review and approval process for certain contracts entered into by a subsidiary, which the company said are being taken seriously.

The company added that no conclusions have been reached and that it will provide updates where appropriate.

Smith was appointed to the board on 1 August 2023. She did not hold any shareholding interest in the company or its subsidiaries and has no familial relationship with any director or substantial shareholder.

Following her resignation, she will also step down from directorships held in the group’s subsidiaries.

Meanwhile, Rex International said its audit committee continues to have at least three members, and independent directors still make up at least one-third of the board.

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