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

Issuer & Securities

Issuer/ Manager
CROMWELL EREIT MANAGEMENT PTE. LTD.
Securities
CROMWELL EUROPEAN REIT - SG1EA8000000 - CNNU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
31-Aug-2018 18:47:34
Status
New
Announcement Sub Title
Resignation as Executive Director and Chief Executive Officer
Announcement Reference
SG180831OTHRN1P7
Submitted By (Co./ Ind. Name)
Kim Yi Hwa
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Change of resignation date of Executive Director and Chief Executive Officer ("CEO").

The Company refers to its announcement reference no. SG180618OTHR0NBV released on 18 June 2018 on Mr. Philip Levinson's resignation as Executive Director and CEO of Cromwell EREIT Management Pte. Ltd. ("CEM").

As a new Executive Director and CEO will be appointed in early September 2018, CEM and Mr. Levinson have mutually agreed that Mr. Levinson's last day of service with CEM will be on 2 September 2018 instead of 31 August 2018 as previously announced.

Sponsorship statement:

Goldman Sachs (Singapore) Pte. and UBS AG, Singapore Branch are the joint issue managers for the Offering. DBS Bank Ltd., Goldman Sachs (Singapore) Pte., and UBS AG, Singapore Branch are the joint global coordinators for the Offering. DBS Bank Ltd., Goldman Sachs (Singapore) Pte., UBS AG, Singapore Branch, Daiwa Capital Markets Singapore Limited and CLSA Singapore Pte Ltd are the joint bookrunners and underwriters for the Offering.

Additional Details

Name Of Person
Philip Levinson
Age
54
Is effective date of cessation known?
Yes
If yes, please provide the date
02/09/2018
Detailed Reason (s) for cessation
Resignation to pursue other business interests, including the provision of advisory services to the Cromwell Property Group.
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
17/08/2017
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
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and CEO
Role and responsibilities
Executive Director and CEO of Cromwell EREIT Management Pte. Ltd., the Manager of Cromwell European Real Estate Investment Trust ("CEREIT"). Works with the Board of Directors to determine the strategy and is responsible for overall day-to-day management and operations of CEREIT.
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)
Cambridge Industrial Trust Management Limited (now known as ESR
Funds Management (S) Limited)
Taurus Wealth Advisors Pte. Ltd.
Cambridge SPV1 LLP
Cambridge SPV2 Pte. Ltd.
Cambridge-MTN Pte. Ltd. ( now know as ESR-MTN Pte. Ltd.)
Asia Pacific Real Estate Association Limited
Present
Cromwell EREIT Management Pte. Ltd.
Penmount Partners Pte. Ltd.
Penmount Properties Pte. Ltd .
Cromwell SG SPV 1 Pte. Ltd.
Cromwell SG SPV 2 Pte. Ltd.
Cromwell SG SPV 3 Pte. Ltd.
Cromwell SG SPV 4 Pte. Ltd.
Cromwell SG SPV 5 Pte. Ltd.