Jul 26, 2019
Change - Announcement Of Retirement Of Non-Executive And Independent Director
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jul 26, 2019 19:04 |
| Status | New |
| Announcement Sub Title | Retirement of Non-Executive and Independent Director |
| Announcement Reference | SG190726OTHR6L0A |
| Submitted By (Co./ Ind. Name) | Catherine Yeo |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Retirement of Mr Chay Wai Chuen as a Non-Executive and Independent Director on the Board, as the Chairman of the Audit, Risk and Compliance Committee and as a Member of the Nominating and Remuneration Committee. |
| Additional Details | |
| Name Of Person | Chay Wai Chuen |
| Age | 69 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 28/07/2019 |
| Detailed Reason (s) for cessation | Mr Chay has served as a Non-Executive and Independent Director of Frasers Commercial Asset Management Ltd. ("FCOAM"), the manager of Frasers Commercial Trust ("FCOT"), since 29 July 2010, and is retiring as part of the board renewal process and for compliance with regulatory requirements. The Board expresses its appreciation to Mr Chay for his dedication and invaluable contributions during his tenure of service. |
| 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 | 29/07/2010 |
| 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 | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive and Independent Director, Chairman of the Audit, Risk and Compliance Committee and Member of the Nominating and Remuneration Committee |
| Role and responsibilities | As above |
| 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) | 1. YR Industries Pte Ltd 2. Singapore Corporation of Rehabilitative Enterprise |
| Present | 1. DACS Consulting Pte Ltd 2. Lorton Asia Pte Ltd 3. Lorton Lanka (Pte) Ltd 4. Farnborough Business Park Ltd |