Change - Announcement of Cessation::Cessation of Appointment of Non-Executive and Lead Independent Director

Issuer & Securities

Issuer/ Manager
FRASERS HOSPITALITY ASSET MANAGEMENT PTE. LTD.
Securities
FRASERS HOSPITALITY TRUST - SG1AA5000001 - ACV
Stapled Security
Yes

Other Issuer(s) for Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
28-Aug-2024 22:31:06
Status
New
Announcement Sub Title
Cessation of Appointment of Non-Executive and Lead Independent Director
Announcement Reference
SG240828OTHRMZ47
Submitted By (Co./ Ind. Name)
Catherine Yeo
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Mr Soong Hee Sang as a Non-Executive and Lead Independent Director, Chairman of the Nominating and Remuneration Committee ("NRC") and member of the Audit, Risk and Compliance Committee ("ARCC"), of each of Frasers Hospitality Asset Management Pte. Ltd. ("FHAM"), the manager of Frasers Hospitality Real Estate Investment Trust, and Frasers Hospitality Trust Management Pte. Ltd. ("FHTM"), the trustee-manager of Frasers Hospitality Business Trust.

Additional Details

Name Of Person
Soong Hee Sang
Age
65
Is effective date of cessation known?
Yes
If yes, please provide the date
01/12/2024
Detailed Reason (s) for cessation
Mr Soong Hee Sang has resigned as a Non-Executive and Lead Independent Director, Chairman of the NRC and member of the ARCC, of each of FHAM, the manager of Frasers Hospitality Real Estate Investment Trust, and FHTM, the trustee-manager of Frasers Hospitality Business Trust (collectively, the "Managers"), for personal reasons, which will take effect on 1 December 2024.The Board of each of the Managers places on record its appreciation to Mr Soong for his contributions.

The Managers are in the process of identifying and appointing a suitable candidate for the role of an Independent Director and will issue an announcement in due course.
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
29/05/2023
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
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Non-Executive and Lead Independent Director, Chairman of the NRC, and a member of the ARCC.
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
No
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
1. Director, Mercatus Co-operative Limited
2. Board member, Mercatus Strategic Investment Management LLP
3. Director, Keppel Pacific Oak US REIT Management Pte. Ltd., manager of Keppel Pacific Oak US REIT
Present
1. Director, Metro Holdings Limited