Change - Announcement of Cessation::Cessation as Executive Director and Co-Chief Executive Officer

Issuer & Securities

Issuer/ Manager
JAPAN RESIDENTIAL ASSETS MANAGER LIMITED
Securities
SAIZEN REAL ESTATE INV TRUST - SG2G35998266 - T8JU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
18-Nov-2015 18:43:23
Status
New
Announcement Sub Title
Cessation as Executive Director and Co-Chief Executive Officer
Announcement Reference
SG151118OTHRCE7A
Submitted By (Co./ Ind. Name)
Arnold Ip Tin Chee
Designation
Chairman
Description (Please provide a detailed description of the event in the box below)
Announcement of cessation as Executive Director and Co-Chief Executive Officer

Additional Details

Name Of Person
Chang Sean Pey
Age
44
Is effective date of cessation known?
Yes
If yes, please provide the date
01/12/2015
Detailed Reason (s) for cessation
In anticipation of the implementation of the new guidelines to holders of a capital markets services licence for real estate investment trust ("REIT") management with effect from 1 January 2016 (in particular, that the Chief Executive Officer and executive directors of a REIT manager should not take up an executive role in another entity), and in light of Mr Chang's executive positions in other entities which he intends to continue taking up, Mr Chang will be re-designated as Head (Investments and Special Projects) and will relinquish his role as Co-Chief Executive Officer and Executive Director of the REIT Manager with effect from 1 December 2015. The appointment of a new Chief Executive Officer is also part of the REIT Manager's succession plan.

Mr Chang will continue to remain part of the senior management team of the REIT Manager as Head (Investments and Special Projects), and will continue to focus on the evaluation of business opportunities and the portfolio performance of Saizen REIT.
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?
No
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
05/07/2007
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)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Co-Chief Executive Officer
Role and responsibilities
Responsible for the development and review of investment and divestment strategies of Saizen REIT, as well as the day-to-day operations of Saizen REIT, including compliance with the relevant laws and regulations.
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?
Yes
Shareholding Details
756,357 units
Past (for the last 5 years)
1) Japre Investment Limited
2) Altus Asset Management Limited
3) Greenery Limited
4) Japan Residential Assets Manager Limited

Present
1) AJ Investments Group Ltd.
2) Altus Capital Limited
3) Altus Investments Limited
4) Galaxy Base Limited
5) Japan Regional Assets Manager Limited
6) Japan Regional Assets Manager (Hong Kong) Limited