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May 26, 2023
Change - Announcement Of Cessation Of Appointment Of Non-Executive And Independent Director
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | May 26, 2023 21:06 |
| Status | New |
| Announcement Sub Title | Cessation of Appointment of Non-Executive and Independent Director |
| Announcement Reference | SG230526OTHRIWIX |
| 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 Law Song Keng as a Non-Executive and Independent Director, Chairman of the Board, Chairman of the Nominating and Remuneration Committee ("NRC") and member of the Audit, Risk and Compliance Committee ("ARCC"), of each of Frasers Hospitality Asset Management Pte. Ltd. ("FHAM"), the manager of Frasers Hospitality Real Estate Investment Trust, and Frasers Hospitality Trust Management Pte. Ltd. ("FHTM"), the trustee-manager of Frasers Hospitality Business Trust. |
| Additional Details | |
| Name Of Person | Law Song Keng |
| Age | 78 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/05/2023 |
| Detailed Reason (s) for cessation | Mr Law has served as a Non-Executive and Independent Director of each of FHAM and FHTM since 10 June 2014 and would have served on the Board of each of FHAM and FHTM for nine years on 9 June 2023. He is retiring from the Board of each of FHAM and FHTM as part of Board renewal. The Board of each of FHAM and FHTM expresses its appreciation to Mr Law for his dedication and invaluable contribution 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 | 10/06/2014 |
| 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.) | Chairman, Non-Executive and Independent Director, Chairman of the NRC, and member of the ARCC |
| 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? | Yes |
| Shareholding Details | Direct interest in 549,900 stapled securities in Frasers Hospitality Trust |
| Past (for the last 5 years) | 1. Director, Concord Insurance Company Limited 2. Director, Asia Capital Reinsurance Malaysia Sdn Bhd 3. Director, Asia Capital Reinsurance Group Pte Ltd 4. Director, ACR Capital Holdings Pte Ltd |
| Present | 1. Director, IFS Capital Limited 2. Director, Great Eastern Holdings Ltd |
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