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Change - Announcement Of Cessation Of Non-Executive Director
BackJan 18, 2017
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jan 18, 2017 18:37 |
| Status | New |
| Announcement Sub Title | Announcement of Cessation of Non-Executive Director |
| Announcement Reference | SG170118OTHRX24K |
| Submitted By (Co./ Ind. Name) | Shane Hagan |
| Designation | Acting CEO |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Mr David Ian MacGregor as Non-Executive Director of Cambridge Industrial Trust Management Limited ("CITM"). |
| Additional Details | |
| Name Of Person | David Ian MacGregor |
| Age | 60 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 18/01/2017 |
| Detailed Reason (s) for cessation | nabInvest Capital Partners Pty Limited ("NCPPL"), CREIM Limited ("CREIM BVI") and e-Shang Infinity Cayman Limited (the "Buyer") have entered into a share purchase agreement (the "SPA") for the purchase by the Buyer of all of the issued shares in the share capital of nabInvest Oxley Singapore Pte. Ltd, which holds an indirect 80% equity interest in the CITM. Under the terms of the SPA, David Ian MacGregor is required to tender his resignation as Director of the CITM. |
| 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 | 31/10/2013 |
| 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 | 5 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | - Non-Executive Director of CITM - Member of Nominating and Remuneration Committee |
| Role and responsibilities | Board member |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Shareholding interest in the listed issuer and its subsidiaries? | No |
| Past (for the last 5 years) | Please refer to attached. |
| Present | Please refer to attached. |
Attachments
- Attachment 1 (Size: 309,102 bytes)