Jun 28, 2019
Change - Announcement Of Cessation As Executive And Non-Independent Director And Chief Executive Officer
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jun 28, 2019 18:36 |
| Status | New |
| Announcement Sub Title | Announcement of Cessation as Executive and Non-Independent Director and Chief Executive Officer |
| Announcement Reference | SG190628OTHRZIVZ |
| Submitted By (Co./ Ind. Name) | Catherine Yeo |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Announcement of Cessation as Executive and Non-Independent Director and Chief Executive Officer. |
| Additional Details | |
| Name Of Person | Chew Tuan Chiong |
| Age | 61 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/07/2019 |
| Detailed Reason (s) for cessation | Dr Chew will retire as Executive and Non-Independent Director and as Chief Executive Officer of Frasers Centrepoint Asset Management Ltd. ("FCAM"), the manager of Frasers Centrepoint Trust ("FCT"). He will assume the role of advisor to Frasers Property Limited following his retirement. The Board of FCAM would like to express its appreciation to Dr Chew for his contributions to FCT. |
| 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 | 01/03/2010 |
| 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) | 2 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive and Non-Independent Director and Chief Executive Officer |
| Role and responsibilities | The Chief Executive Officer has full executive responsibilities over the business direction and operations of FCAM, and is responsible for the execution of the Board's adopted strategies and policies. The Chief Executive Officer also works with the Board to determine the overall business and investment strategies of FCT. He is responsible for the day-to-day management of FCT and works closely with the management team to ensure that FCT's finance, investment, asset management, investor relations and other plans and initiatives are executed successfully. |
| 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 | Deemed interest in up to 276,600 units in FCT pursuant to 184,400 awards under the FCAM Restricted Unit Plan |
| Past (for the last 5 years) | Please see attachment. |
| Present | Please see attachment. |
28 Jun 2019 | PDF 48,027 kb
