News
Change - Announcement Of Cessation Of Mr (Ta) Tay Boon Hwee As CEO And Executive Non-Independent Director
BackApr 25, 2017
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | Cessation of Mr (TA) Tay Boon Hwee as CEO and Executive Non-Independent Director |
| Securities | ASCOTT RESIDENCE TRUST (ART) |
| Date & Time of Broadcast | Apr 25, 2017 7:33 |
| Submitted By | Karen Chan Company Secretary, Ascott Residence Trust Management Limited |
| Description | Cessation of Mr (TA) Tay Boon Hwee as Chief Executive Officer, Executive Non-Independent Director and Member of the Corporate Disclosure Committee and the Executive Committee of Ascott Residence Trust Management Limited ("ARTML"). |
| Cessation Details | |
| Name of person | (TA) Tay Boon Hwee |
| Age | 48 |
| Is effective date of cessation known? | Yes |
| Effective date for cessation | May 1, 2017 |
| Detailed reason(s) for cessation | Mr (TA) Tay Boon Hwee will relinquish his role as Chief Executive Officer and Director of ARTML to assume another role within the CapitaLand Limited Group with effect from 1 May 2017. Mr Tay has played a key role in Ascott Residence Trust's business growth since his appointment as Chief Executive Officer on 27 February 2012 and Executive Non-Independent Director on 1 January 2013. The Board of Directors of ARTML would like to express its thanks and appreciation to Mr Tay for his contributions to ARTML. |
| 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 | Feb 27, 2012 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this 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 | Chief Executive Officer, Executive Non-Independent Director and Member of the Corporate Disclosure Committee and the Executive Committee |
| Role and responsibilities | Mr Tay manages all aspects of Ascott Residence Trust's business. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | None |
| Shareholdings interest in the listed issuer and its subsidaries? | Yes |
| Shareholding Details | 49,338 units in Ascott Residence Trust (own name) |
| Other directorships | |
| Past (for the last 5 years) | Please see Appendix A |
| Present | Please see Appendix B |
Attachments
- Appendix A (Size: 78,238 bytes)
- Appendix B (Size: 16,702 bytes)