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| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 11, 2024 12:20 |
| Status | New |
| Announcement Sub Title | Cessation of Mr Tan Beng Hai, Bob as Non-Executive Independent Director |
| Announcement Reference | SG240311OTHR15O9 |
| Submitted By (Co./ Ind. Name) | Karen Chan |
| Designation | Company Secretary, CapitaLand Ascott Trust Management Limited |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Mr Tan Beng Hai, Bob as a Non-Executive Independent Director, the Chairman of Board and the Chairman of Nominating and Remuneration Committee. |
| Additional Details | |
| Name Of Person | Tan Beng Hai, Bob |
| Age | 71 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 22/04/2024 |
| Detailed Reason (s) for cessation | Under the Securities and Futures (Licensing and Conduct of Business) regulations of the Monetary Authority of Singapore, an independent director is one who has not served as a director for a continuous period of 9 years ("9-year Rule"). Mr Tan Beng Hai, Bob has served as a Non-Executive Independent Director of CapitaLand Ascott Trust Management Limited (the "REIT Manager") for almost 9 years, and is stepping down as an independent director pursuant to the 9-year Rule. Mr Tan is also stepping down as a Non-Executive Independent Director of CapitaLand Ascott Business Trust Management Pte. Ltd. (the "Trustee-Manager") which he was appointed since 30 December 2019. Following his cessation, Mr Tan will be relinquishing his role as the Nominating and Remuneration Committee Chairman of the REIT Manager and the Trustee-Manager. |
| 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 | 24/04/2015 |
| 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 | 1 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Independent Director, Chairman of Board and Chairman of Nominating and Remuneration Committee, respectively. |
| Role and responsibilities | Non-Executive |
| 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 | 167,510 stapled securities in CapitaLand Ascott Trust |
| Past (for the last 5 years) | Please see Appendix A. |
| Present | Please see Appendix B. |
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