Change - Announcement of Cessation::Cessation of Mr (TA) Tay Boon Hwee as CEO and Executive Non-Independent Director

Issuer & Securities

Issuer/ Manager
ASCOTT RESIDENCE TRUST MANAGEMENT LIMITED
Securities
ASCOTT RESIDENCE TRUST - SG1T08929278 - A68U
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Apr-2017 07:33:49
Status
New
Announcement Sub Title
Cessation of Mr (TA) Tay Boon Hwee as CEO and Executive Non-Independent Director
Announcement Reference
SG170425OTHRKX7O
Submitted By (Co./ Ind. Name)
Karen Chan
Designation
Company Secretary, Ascott Residence Trust Management Limited
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr (TA) Tay Boon Hwee as Chief Executive Officer, Executive Non-Independent Director and Member of the Corporate Disclosure Committee and the Executive Committee of Ascott Residence Trust Management Limited ("ARTML").

Additional Details

Name Of Person
(TA) Tay Boon Hwee
Age
48
Is effective date of cessation known?
Yes
If yes, please provide the date
01/05/2017
Detailed Reason (s) for cessation
Mr (TA) Tay Boon Hwee will relinquish his role as Chief Executive Officer and Director of ARTML to assume another role within the CapitaLand Limited Group with effect from 1 May 2017. Mr Tay has played a key role in Ascott Residence Trust's business growth since his appointment as Chief Executive Officer on 27 February 2012 and Executive Non-Independent Director on 1 January 2013. The Board of Directors of ARTML would like to express its thanks and appreciation to Mr Tay for his contributions to ARTML.
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
27/02/2012
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)
3
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.)
Chief Executive Officer, Executive Non-Independent Director and Member of the Corporate Disclosure Committee and the Executive Committee
Role and responsibilities
Mr Tay manages all aspects of Ascott Residence Trust's business.
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
49,338 units in Ascott Residence Trust (own name)
Past (for the last 5 years)
Please see Appendix A
Present
Please see Appendix B

Attachments

RT_AppendixA_Past.pdf
RT_AppendixB_Present.pdf
Total size =92K