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Change - Announcement Of Appointment Of Non-Independent Non-Executive Director

BackSep 17, 2019
Announcement Title Change - Announcement of Appointment
Date & Time of Broadcast Sep 17, 2019 18:19
Status New
Announcement Sub Title Appointment of Non-Independent Non-Executive Director
Announcement Reference SG190917OTHRG1PD
Submitted By (Co./ Ind. Name) Jackie Thia
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) Appointment of Mr Lee Yi Shyan ("Mr Lee") as Chairman and Non-Independent Non-Executive Director of OUE Commercial REIT Management Pte. Ltd., as manager of OUE Commercial Real Estate Investment Trust (the "Manager")
Additional Details
Date Of Appointment 17/09/2019
Name Of Person Lee Yi Shyan
Age 57
Country Of Principal Residence Singapore
The Board's comments on this appointment (including rationale, selection criteria, and the search and nomination process) The Nominating and Remuneration Committee of the Manager has reviewed the qualifications and experience of Mr Lee and has recommended his appointment as the Chairman and Non-Independent Non-Executive Director of the Manager to the Board of Directors of the Manager.

The Board of Directors of the Manager, having reviewed and considered Mr Lee's qualifications and experience, has approved his appointment as the Chairman and Non-Independent Non-Executive Director of the Manager.
Whether appointment is executive, and if so, the area of responsibility Non-Executive
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Chairman and Non-Independent Non-Executive Director
Professional qualifications 1. Bachelor of Science (Chemical Engineering), National University of Singapore
2. Executive Management Programme, Harvard Business School, USA
3. Management Programme, Tsinghua University, PRC
Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries Mr Lee currently holds the position of Executive Adviser, Chairman's office, OUE Limited. OUE Limited is a substantial shareholder of the Manager and a substantial unitholder of OUE Commercial Real Estate Investment Trust ("OUE C-REIT") through its deemed interest in the OUE C-REIT units held by the Manager and Clifford Development Pte. Ltd.
Conflict of interests (including any competing business) Nil
Working experience and occupation(s) during the past 10 years From 1 January 2016 to current:
Executive Adviser, Chairman's office, OUE Limited

September 2015 to current:
Member of Parliament, East Coast GRC

From May 2011 to September 2015:
Senior Minister of State, Ministry of National Development

From May 2006 to September 2015:
Senior Minister of State, Ministry of Trade and Industry

From April 2009 to May 2011:
Minister of State, Ministry of Manpower
Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) Yes
Shareholding interest in the listed issuer and its subsidiaries? Yes
Shareholding Details 14,533 units in OUE Commercial Real Estate Investment Trust
Other Principal Commitments* Including Directorships#
*"Principal Commitments" has the same meaning as defined in the Code
# These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8).
Past (for the last 5 years) 1. OUE Hospitality REIT Management Pte. Ltd.
Present Director:
1. Business China
2. Ice Clear Singapore Pte. Ltd.
3. Ice Futures Singapore Pte. Ltd.
4. Ice Singapore Holdings Pte. Ltd.
5. Keppel Group Eco-City Investments Pte. Ltd.
6. OUE Hospitality Trust Management Pte. Ltd.
7. OUE Lippo Healthcare Limited
8. OUE USA Services Corp.
9. Singapore Tianjin Eco-city Investments Holdings Pte. Ltd.
10. Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd.
11. Substantial Enterprises Limited
12. Vysion Star Pte. Ltd.

Advisor:
1. Keppel Corporation Limited
2. Jing Hope Holdings Pte. Ltd.
3. Luye Life Sciences Group Ltd

Executive Adviser, Chairman's Office:
OUE Limited

Member of Parliament of Singapore:
Electoral Division of East Coast GRC
(a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? No
(b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? No
(c) Whether there is any unsatisfied judgment against him? No
(d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? No
(e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? No
(f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? No
(g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? No
(h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? No
(i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? No
(j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :-
(i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or No
(ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or No
(iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or No
(iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? No
(k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? No
Any prior experience as a director of an issuer listed on the Exchange? Yes
If Yes, Please provide details of prior experience Mr Lee was previously the Chairman and Non-Independent Non-Executive Director of OUE Hospitality REIT Management Pte. Ltd. (as REIT manager of OUE Hospitality Real Estate Investment Trust ("OUE H-REIT")). He is currently the Chairman and Non-Independent Non-Executive Director of OUE Hospitality Trust Management Pte. Ltd. (as trustee-manager of OUE Hospitality Business Trust ("OUE H-BT")). OUE Hospitality Trust, which comprised OUE H-REIT and OUE H-BT, was delisted from the Main Board of the Singapore Exchange Trading Securities Limited ("SGX-ST") today, 17 September 2019.

Mr Lee is currently the Chairman and Non-Independent Non-Executive Director of OUE Lippo Healthcare Limited, a company listed on the Catalist of the SGX-ST.