Change - Announcement of Cessation::Announcement of Cessation
Issuer & Securities
KBS US PRIME PROPERTY MANAGEMENT PTE. LTD.
PRIME US REIT - SGXC75818630 - OXMU
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
Announcement of Cessation
Submitted By (Co./ Ind. Name)
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr. Sandip Talukdar, as Chief Financial Officer ("CFO") of KBS US Prime Property Management Pte. Ltd. (Manager of Prime US REIT).
The Board of Directors and Management have identified several highly qualified candidates to replace the outgoing CFO. The appointment of the new CFO will be made in due course.
Name Of Person
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To pursue other interests.
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?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
If Yes, Please provide full details
Mr Liang Yin Goo, Financial Controller for KBS US Prime Property Management Pte. Ltd., will assume the responsibilities until the appointment of the new CFO.
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Financial Officer
Role and responsibilities
Work with the CEO and Manager team to implement the strategic plans for Prime US REIT in accordance with the Manager's stated investment strategy. Other responsibilities include capital management strategies, finance and accounting matters.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Past (for the last 5 years)
Standard Chartered Securities (Singapore) Pte. Limited
Prime US REIT S1 Pte. Ltd.
Prime US REIT S2 Pte. Ltd.