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Aug 28, 2024
Change - Announcement Of Cessation Of Appointment Of Non-Executive And Lead Independent Director
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Aug 28, 2024 22:31 |
| Status | New |
| Announcement Sub Title | Cessation of Appointment of Non-Executive and Lead Independent Director |
| Announcement Reference | SG240828OTHRMZ47 |
| Submitted By (Co./ Ind. Name) | Catherine Yeo |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Mr Soong Hee Sang as a Non-Executive and Lead Independent Director, 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 | Soong Hee Sang |
| Age | 65 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/12/2024 |
| Detailed Reason (s) for cessation | Mr Soong Hee Sang has resigned as a Non-Executive and Lead Independent Director, Chairman of the NRC and member of the ARCC, of each of FHAM, the manager of Frasers Hospitality Real Estate Investment Trust, and FHTM, the trustee-manager of Frasers Hospitality Business Trust (collectively, the "Managers"), for personal reasons, which will take effect on 1 December 2024.The Board of each of the Managers places on record its appreciation to Mr Soong for his contributions. The Managers are in the process of identifying and appointing a suitable candidate for the role of an Independent Director and will issue an announcement in due course. |
| 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 | 29/05/2023 |
| 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) | 2 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive and Lead Independent Director, Chairman of the NRC, and a 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? | No |
| Past (for the last 5 years) | 1. Director, Mercatus Co-operative Limited 2. Board member, Mercatus Strategic Investment Management LLP 3. Director, Keppel Pacific Oak US REIT Management Pte. Ltd., manager of Keppel Pacific Oak US REIT |
| Present | 1. Director, Metro Holdings Limited |
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