Change - Announcement Of Resignation Of Independent Director - Mr Eng Meng Leong
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Feb 25, 2019 20:13 |
| Status | New |
| Announcement Sub Title | Resignation of Independent Director - Mr Eng Meng Leong |
| Announcement Reference | SG190225OTHR21EO |
| Submitted By (Co./ Ind. Name) | Gurpreet Singh Dhillon |
| Designation | Chief Executive Officer |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Mr Eng Meng Leong as an Independent Director of the Company. |
| Additional Details | |
| Name Of Person | Eng Meng Leong |
| Age | 64 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 25/02/2019 |
| Detailed Reason (s) for cessation | The new shareholder of the Trustee-Manager has expressed the wish to reconstitute the Board, and the current directors, recognising the new shareholder's right to appoint its own nominees to the Board, have tendered their respective resignations to enable the Board to be reconstituted by the new shareholder. This follows the completion of the Disposal as well as the distribution of the majority of the Net Proceeds from the Disposal to Unit holders. |
| 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 | 01/07/2013 |
| 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 | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Independent Director. Chairman of the Remuneration Committee and Member of the Audit and Risk Management Committee. |
| Role and responsibilities | Non-Executive. |
| 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) | Libra Group Limited 3Cnergy Limited Croesus Retail Asset Management Pte. Ltd. |
| Present | ACTS College Ltd |