Change - Announcement Of Cessation Of Appointment Of Non-Executive Lead Independent Director
BackMar 29, 2019
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 29, 2019 17:31 |
| Status | New |
| Announcement Sub Title | CESSATION OF APPOINTMENT OF NON-EXECUTIVE LEAD INDEPENDENT DIRECTOR |
| Announcement Reference | SG190329OTHROJQV |
| Submitted By (Co./ Ind. Name) | STELLA YEAK |
| Designation | COMPANY SECRETARY |
| Description (Please provide a detailed description of the event in the box below) | Cessation of appointment of Mr Norman Ip Ka Cheung as Non-Executive, Lead Independent Director, Chairman of the Audit, Risk and Compliance Committee ("ARCC") and member of the Nominating and Remuneration Committee ("NRC"). |
| Additional Details | |
| Name Of Person | NORMAN IP KA CHEUNG |
| Age | 66 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/03/2019 |
| Detailed Reason (s) for cessation | Mr Ip has served on the board of AIMS AMP Capital Industrial REIT Management Limited (the "Board") as a Non-Executive Independent Director since 31 March 2010. In compliance with the Monetary Authority of Singapore's statutory nine-year limit for Independent Directors of a REIT Manager, Mr Ip will be stepping down from the Board on 29 March 2019. He will also be retiring as the Chairman of the ARCC and member of the NRC with effect from 29 March 2019. |
| 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 | 31/03/2010 |
| 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 | 4 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Lead Independent Director, Chairman of ARCC and member of NRC. |
| Role and responsibilities | Non-Executive Lead Independent Director, Chairman of ARCC and member of NRC. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Ip currently holds a direct interest of 158,625 units in AIMS AMP Capital Industrial REIT. |
| Past (for the last 5 years) | Please refer to Appendix 1 |
| Present | Please refer to Appendix 1 |
Attachments
Appendix 1 (Size: 18,256 bytes)- Press Release (Size: 244,195 bytes)