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Change - Announcement Of Cessation Of Mr (Ta) Tay Boon Hwee As CEO And Executive Non-Independent Director

BackApr 25, 2017

Announcement Title	Change - Announcement of Cessation
Announcement Subtitle	Cessation of Mr (TA) Tay Boon Hwee as CEO and Executive Non-Independent Director
Securities	ASCOTT RESIDENCE TRUST (ART)
Date & Time of Broadcast	Apr 25, 2017 7:33
Submitted By	Karen Chan Company Secretary, Ascott Residence Trust Management Limited
Description	Cessation of Mr (TA) Tay Boon Hwee as Chief Executive Officer, Executive Non-Independent Director and Member of the Corporate Disclosure Committee and the Executive Committee of Ascott Residence Trust Management Limited ("ARTML").
Cessation Details
Name of person	(TA) Tay Boon Hwee
Age	48
Is effective date of cessation known?	Yes
Effective date for cessation	May 1, 2017
Detailed reason(s) for cessation	Mr (TA) Tay Boon Hwee will relinquish his role as Chief Executive Officer and Director of ARTML to assume another role within the CapitaLand Limited Group with effect from 1 May 2017. Mr Tay has played a key role in Ascott Residence Trust's business growth since his appointment as Chief Executive Officer on 27 February 2012 and Executive Non-Independent Director on 1 January 2013. The Board of Directors of ARTML would like to express its thanks and appreciation to Mr Tay for his contributions to ARTML.
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	Feb 27, 2012
Does the AC have a minimum of 3 members (taking into account this cessation)?	Yes
Number of independent directors currently resident in Singapore (taking this account this cessation)	3
Number of cessations of appointments specified in Listing Rule 704(7) or Catalist Rule 704(6) over the past 12 months	2
Job Title	Chief Executive Officer, Executive Non-Independent Director and Member of the Corporate Disclosure Committee and the Executive Committee
Role and responsibilities	Mr Tay manages all aspects of Ascott Residence Trust's business.
Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries	None
Shareholdings interest in the listed issuer and its subsidaries?	Yes
Shareholding Details	49,338 units in Ascott Residence Trust (own name)
Other directorships
Past (for the last 5 years)	Please see Appendix A
Present	Please see Appendix B

Attachments

Appendix A (Size: 78,238 bytes)
Appendix B (Size: 16,702 bytes)