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Change - Announcement Of Cessation :: Resignation Of Independent Non-Executive Director

BackJun 05, 2017
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Jun 5, 2017 17:57
Status New
Announcement Sub Title Resignation of Independent Non-Executive Director
Announcement Reference SG170605OTHRVPOY
Submitted By (Co./ Ind. Name) Ng Ngai
Designation Company Secretary, OUE Commercial REIT Management Pte. Ltd. (as Manager of OUE Commercial REIT)
Description (Please provide a detailed description of the event in the box below) Resignation of Mr Carl Gabriel Florian Stubbe as Independent Non-Executive Director. Following his resignation, Mr Stubbe will also cease to serve as the Chairman of the Nominating and Remuneration Committee ("NRC") and a Member of the Audit and Risk Committee ("ARC") of OUE Commercial REIT Management Pte. Ltd. (the "Manager").
Additional Details
Name Of Person Carl Gabriel Florian Stubbe
Age 41
Is effective date of cessation known? Yes
If yes, please provide the date 05/06/2017
Detailed Reason (s) for cessation Mr Stubbe is stepping down as a Director of the Manager so as to pursue other career opportunities with the Sponsor, OUE Limited. In the spirit of good corporate governance, both the Manager and Mr Stubbe are of the view that Mr Stubbe should resign from his position as an Independent Non-Executive Director.
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 08/01/2014
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) 3
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.) Independent Non-Executive Director, Chairman of the NRC and a Member of the ARC
Role and responsibilities Independent Non-Executive Director
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? No
Past (for the last 5 years) Nil
Present Peredigm Private Limited
Bowsprit Capital Corporation Limited