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Announcement Of Cessation As Head Of Finance
BackJul 20, 2010
| Resignation Details | |
| Name Of Person | Jason Michael Kennedy |
| Age | 37 |
| Is Effective Date Of Cessation Known? | Yes |
| Effective Date Of Cessation | 19/07/2010 |
| Detailed Reason(s) for Cessation | Mr. Kennedy is leaving the Company for personal reasons. |
| Is there any difference of opinion on material matters between the person and the Board of directors? | No |
| If yes, please elaborate | NA |
| 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 |
| If yes, please elaborate | NA |
| Any other relevant information to be provided to shareholders of the listed issuer? | No |
| If yes, please elaborate | NA |
| Date of Appointment to current position | 14/12/2007 |
| Job Title | Head of Finance |
| Role and Responsibilities | The Head of Finance reports to the CEO and is responsible for the financial performance and for ensuring key performance indicators are achieved for the effective management of CIT. He oversees all finance functions which cover financial projections of rental returns, ascertaining the distributable income to Unitholders, accounting for rental collections, credit control and collections as well as monitoring operating expenses. The Head of Finance also oversees the preparation of statutory accounts, coordinates with external auditors and manages taxes and borrowings. He also assesses, develops and implements an effective capital management strategy through raising of debt and equity. In addition, the Head of Finance is also responsible for the preparation of regular performance reports for investors and regulators. |
| Does the AC have a minimum of 3 members (taking into account this resignation)? | 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) over the past 12 months | 3 |
| Shareholding in the listed issuer and its subsidiaries | Yes. Mr. Kennedy holds 81041 units as at 16 July 2010. |
| Family relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | NIL |
| Other Directorship | |
| Past Directorship (for the last five years) | NIL |
| Present Directorship | NIL |