Change - Announcement of Cessation::Retirement 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
15-Apr-2021 07:01:17
Status
New
Announcement Sub Title
Retirement of Independent Non-Executive Director
Announcement Reference
SG210415OTHRUGYZ
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)
Retirement of Mr Tan Poay Seng as an Independent Non-Executive Director of the Company.

Additional Details

Name Of Person
Tan Poay Seng
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
30/04/2021
Detailed Reason (s) for cessation
Mr Tan will be retiring in accordance with Clause 83(a) of the Constitution of the Company at the annual general meeting of the Company to be held on 30 April 2021 ("2021 AGM"). He has been serving on the Board for more than 9 years and has notified the Company that he will not be seeking re-election at the 2021 AGM. Consequent thereto, Mr Tan will also cease as a member of the Board Sustainability Committee upon conclusion of the 2021 AGM.

The Board expresses its appreciation to Mr Tan for his invaluable contributions during his tenure of service.
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
02/02/2012
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.)
Independent Non-Executive Director and a Member of the Board Sustainability 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)
Coronation Springs Sdn Bhd
Present
Magni-Tech Industries Berhad
Coronation Springs (M) Sdn. Bhd.
South Island Garment Sdn Bhd