Change - Announcement of Cessation::Cessation of Mr Tan Beng Hai, Bob as Non-Executive Independent Director

Issuer & Securities

Issuer/ Manager
CAPITALAND ASCOTT TRUST MANAGEMENT LIMITED
Securities
CAPITALAND ASCOTT TRUST - SGXC16332337 - HMN
Stapled Security
Yes

Other Issuer(s) for Stapled Security

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
11-Mar-2024 12:20:41
Status
New
Announcement Sub Title
Cessation of Mr Tan Beng Hai, Bob as Non-Executive Independent Director
Announcement Reference
SG240311OTHR15O9
Submitted By (Co./ Ind. Name)
Karen Chan
Designation
Company Secretary, CapitaLand Ascott Trust Management Limited
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Tan Beng Hai, Bob as a Non-Executive Independent Director, the Chairman of Board and the Chairman of Nominating and Remuneration Committee.

Additional Details

Name Of Person
Tan Beng Hai, Bob
Age
71
Is effective date of cessation known?
Yes
If yes, please provide the date
22/04/2024
Detailed Reason (s) for cessation
Under the Securities and Futures (Licensing and Conduct of Business) regulations of the Monetary Authority of Singapore, an independent director is one who has not served as a director for a continuous period of 9 years ("9-year Rule"). Mr Tan Beng Hai, Bob has served as a Non-Executive Independent Director of CapitaLand Ascott Trust Management Limited (the "REIT Manager") for almost 9 years, and is stepping down as an independent director pursuant to the 9-year Rule. Mr Tan is also stepping down as a Non-Executive Independent Director of CapitaLand Ascott Business Trust Management Pte. Ltd. (the "Trustee-Manager") which he was appointed since 30 December 2019. Following his cessation, Mr Tan will be relinquishing his role as the Nominating and Remuneration Committee Chairman of the REIT Manager and the Trustee-Manager.
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
24/04/2015
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)
5
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 Independent Director, Chairman of Board and Chairman of Nominating and Remuneration Committee, respectively.
Role and responsibilities
Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
167,510 stapled securities in CapitaLand Ascott Trust
Past (for the last 5 years)
Please see Appendix A.
Present
Please see Appendix B.

Attachments

BT_Appendix A_Past Directorship for the last 5 years.pdf
BT_Appendix B_Current Directorship.pdf
Total size =29K