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Change - Announcement Of Resignation Of Independent Non-Executive Director

BackSep 17, 2019
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Sep 17, 2019 18:26
Status New
Announcement Sub Title Resignation of Independent Non-Executive Director
Announcement Reference SG190917OTHR30IN
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) Resignation of Dr Lim Boh Soon ("Dr Lim") as Independent Non-Executive Director. Following his resignation, Dr Lim 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., as manager of OUE Commercial Real Estate Investment Trust (the "Manager")
Additional Details
Name Of Person Lim Boh Soon
Age 63
Is effective date of cessation known? Yes
If yes, please provide the date 17/09/2019
Detailed Reason (s) for cessation Following the completion of the merger of OUE Commercial Real Estate Investment Trust ("C-REIT") and OUE Hospitality Trust ("H-Trust") effected through the acquisition by DBS Trustee Limited (in its capacity as trustee of C-REIT) of all the issued and paid-up stapled securities held by the stapled securityholders of H-Trust in exchange for a combination of cash and units in C-REIT by way of a trust scheme of arrangement in compliance with the Singapore Code on Take-overs and Mergers, the Company has received a notice of retirement as director of the Manager from Dr Lim.
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 05/06/2017
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) 4
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.) Independent Non-Executive Director, Chairman of the NRC and a Member of the ARC
Role and responsibilities Independent Non-Executive Director, Chairman of the NRC and a Member of the ARC
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) 1. Auric Pacific Group Limited
2. CSE Global Limited
3. Hup Soon Leong Holdings Pte. Ltd. (struck off)
4. Lintang Qartiqa Singapura Pte. Ltd. (formerly known as Qrinon Pte. Ltd.)
5. Peak Power Asia Pte. Ltd. (struck off)
6. OUE Commercial REIT Management Pte. Ltd.
Present 1. Arise Asset Management Pte Ltd
2. ASRI Asset Management Pte. Ltd.
3. EpicQuant Pte. Ltd.
4. Jumbo Group Limited
5. Tomi Environmental Solutions Inc.