Change - Announcement of Cessation::Resignation of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
04-Jan-2021 07:37:34
Status
New
Announcement Sub Title
Resignation of Independent Non-Executive Director
Announcement Reference
SG210104OTHR4FM7
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Ms Tan Yee Peng as an Independent Non-Executive Director of City Developments Limited.

Additional Details

Name Of Person
Tan Yee Peng
Age
47
Is effective date of cessation known?
Yes
If yes, please provide the date
30/12/2020
Detailed Reason (s) for cessation
Ms Tan's reasons for her resignation as a director of the Company are in relation to the Group's investment in the Sincere Property Group. She disagreed with the Board and the Management about the handling of the investment after the acquisition.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Yes
If Yes, Please provide full details
Please refer to the "Detailed Reasons for Cessation".
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
07/05/2014
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
7
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chairman of the Board Sustainability Committee and a Member of each of the Audit & Risk Committee, Nominating Committee and Board Committee.
Role and responsibilities
As above.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
None
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
Hwa Chong International School
Present
Dutech Holdings Limited
Vanguard Health Fund Limited
1FSS Pte. Ltd.
L'Risco Advisory Pte. Ltd.
Hercules Pte. Ltd.