Change - Announcement of Cessation::Resignation of Non-Executive Director

Issuer & Securities

Issuer/ Manager
SABANA REAL ESTATE INVESTMENT MANAGEMENT PTE. LTD.
Securities
SABANA SHARI'AH COMPLIANT REIT - SG2C57965205 - M1GU
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
27-Feb-2017 22:38:44
Status
New
Announcement Sub Title
Resignation of Non-Executive Director
Announcement Reference
SG170227OTHR5WBI
Submitted By (Co./ Ind. Name)
Kevin Xayaraj
Designation
Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Resignation of Non-Executive Director.

Additional Details

Name Of Person
Ng Shin Ein
Age
42
Is effective date of cessation known?
Yes
If yes, please provide the date
23/05/2017
Detailed Reason (s) for cessation
This was set out in Ms Ng's resignation letter:

"Dear Board,

After much consideration, I had notified you of my resignation on 16 Jan 2017 and expressed my inability to contribute to SREIM, as a result of certain internal dynamics within the company.

Coincidentally, shortly after this, unitholders started complaining and campaigning for the reit manager to be removed.

Given that SREIM was faced with various concerns, I withdrew my resignation out of a sense of duty as I wanted to ensure that a basic framework and process for the Strategic Review was established. I continue to believe that it is essential that the fundamental issues relating to a) a pipeline of good properties b) financing costs, and c) management are resolved. While the basic framework and process are now in place, my reason for the earlier resignation remains and I am not confident that I can contribute meaningfully. I hereby reinstate my resignation with effect today."
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?
Yes
If Yes, Please provide full details
The context for the resignation has been set out under Reasons.
Date of Appointment to current position
01/11/2010
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.)
Non-Executive Director.
Role and responsibilities
Member of the Audit Committee.
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)
Yanlord Land Group Limited,
Eu Yan Sang International Ltd, First Resources Limited,
UPP Holdings,
Blue Ocean Associates Pte Ltd,
NTUC Fairprice Co-operative Limited,
Sabana Real Estate Investment Management Pte Ltd,
Working Capital Partners Limited.
Present
Yanlord Land Group Limited,
Eu Yan Sang International Ltd, First Resources Limited,
UPP Holdings,
Blue Ocean Associates Pte Ltd,
NTUC Fairprice Co-operative Limited,
Sabana Real Estate Investment Management Pte Ltd,
Working Capital Partners Limited.