Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
BOWSPRIT CAPITAL CORPORATION LIMITED
Securities
FIRST REAL ESTATE INV TRUST - SG1U27933225 - AW9U
FIRST REIT S$100M4.125%N180522 - SG56E6992960 - 2VEB
FIRST REIT S$60M5.68% PERPSEC - SG73F5000007 - 4I3B
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
17-Apr-2017 17:56:46
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG170417OTHRI17N
Submitted By (Co./ Ind. Name)
Dr Ronnie Tan Keh Poo
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr Albert Saychuan Cheok as Independent Director

Additional Details

Name Of Person
Albert Saychuan Cheok
Age
67
Is effective date of cessation known?
Yes
If yes, please provide the date
17/04/2017
Detailed Reason (s) for cessation
Mr Albert Saychuan Cheok was appointed as an Independent Director of Bowsprit Capital Corporation Limited on 17 May 2006 and has served on the Board for a continuous period of more than nine years. For compliance with the enhanced regulatory requirements on independence issued by the Monetary Authority of Singapore, Mr Cheok has stepped down with effect from 17 April 2017.
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
17/05/2006
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Director, Chairman of the Board, Chairman of the Audit Committee and a member of the Nominating & Remuneration Committee
Role and responsibilities
Non-executive. Independent Director, Chairman of the Board, Chairman of the Audit Committee and a member of the Nominating & Remuneration Committee
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
Mr Cheok holds 1,178,931 units in First REIT
Past (for the last 5 years)
AP Fund Management Pte Ltd
Auric Chun Yip Sdn Bhd
Auric Pacific (M) Sdn Bhd
Confidence Driven Sdn Bhd
Delifrance (Malaysia) Sdn Bhd
Delifrance Food (M) Sdn Bhd
Auric Pacific Food Processing Sdn Bhd
Metal Reclamation Bhd
Macau Chinese Bank Limited
AcrossAsia Limited
Present
LMIRT Management Ltd.
HongKong Chinese Limited
Amplefield Limited
Auric Pacific Group Limited
International Standard Resources Holdings Limited
Adavale Resources Limited
China Aircraft Leasing Group Holdings Limited