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Change - Announcement Of Cessation As Chief Executive Officer & Re-Designation As Non-Executive Non-Independent Director

BackJun 30, 2022

Announcement Title	Change - Announcement of Cessation
Date & Time of Broadcast	Jun 30, 2022 17:45
Status	New
Announcement Sub Title	Cessation as Chief Executive Officer & Re-designation as Non-Executive Non-Independent Director
Announcement Reference	SG220630OTHROJ8D
Submitted By (Co./ Ind. Name)	Karen Chan
Designation	Company Secretary, Ascott Residence Trust Management Limited
Description (Please provide a detailed description of the event in the box below)	Cessation as Chief Executive Officer and Executive Non-Independent Director, Re-Designation as Non-Executive Non-Independent Director
Additional Details
Name Of Person	Beh Siew Kim
Age	51
Is effective date of cessation known?	Yes
If yes, please provide the date	01/07/2022
Detailed Reason (s) for cessation	As part of the regular succession and leadership renewal process of Ascott Residence Trust Management Limited (as manager of Ascott Real Estate Investment Trust) and Ascott Business Trust Management Pte. Ltd. (as trustee-manager of Ascott Business Trust) (collectively, the "Managers"), Ms Beh will relinquish her role as Chief Executive Officer and Executive Non-Independent Director of the Managers to assume another senior management role within CapitaLand Investment Limited and/or its subsidiaries. Ms Beh will be re-designated as Non-Executive Non-Independent Director of the Managers and remain as a member of the Executive Committee.
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	01/05/2017
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)	5
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.)	Chief Executive Officer, Executive Non-Independent Director and Member of the Executive Committee
Role and responsibilities	The current position is in executive in nature. Ms Beh had full executive responsibilities over the business directions and operational decisions of Ascott Residence Trust ("ART") and is responsible for spearheading the overall strategic planning and implementation of the business, investment and operational strategies for ART.
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?	Yes
Shareholding Details	Ms Beh holds 1,329,769 stapled securities and 28,300 stapled securities as direct and deemed interests in ART
Past (for the last 5 years)	Please see Appendix A
Present	Please see Appendix B

Attachments

Appendix A (Size: 58,841 bytes)
Appendix B (Size: 125,897 bytes)