ASCOTT REAL ESTATE INVESTMENT TRUST (Constituted in the Republic of Singapore pursuant to a trust deed dated 19 January 2006 (as amended))
ANNOUNCEMENT CHANGES TO BOARD AND BOARD COMMITTEES COMPOSITION BOARD CHANGES
Ascott Residence Trust Management Limited (the "Company"), as manager of Ascott
Residence Trust ("Ascott REIT"), wishes to announce the following changes with effect from
24 April 2015:
(i) the appointment of Mr Tan Beng Hai as Non-Executive Independent Director and member of the Audit Committee of the Company;
(ii) the stepping down of Mr S. Chandra Das and Mr Giam Chin Toon @ Jeremy Giam as Non-Executive Independent Directors and members of the Audit Committee of the Company;
(iii) the appointment of Mr Zulkifli Bin Baharudin as member of the Audit Committee of the
Company; and
(iv) the relinquishment of Mr Zulkifli Bin Baharudin as member of the Corporate Disclosure
Committee of the Company.
The detailed template announcements, pursuant to Rule 704(7) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"), in relation to the appointment and cessation of directors described above will be separately released to the SGX-ST.
The Board of Directors of the Company wishes to thank Mr Das and Mr Giam for their contributions during their tenure as Directors of the Company.
Mr Tan Beng Hai is currently an independent director, chairman of Audit Committee and member of Nominating Committee of SMRT Corporation Ltd, and an independent director and member of Audit Committee of Sembcorp Marine Ltd (both listed on Singapore Exchange). He is also the chairman of Jurong Engineering Limited, SINGEX Holdings Pte. Ltd., Singapore LNG Corporation Pte. Ltd. and the Institute of Technical Education. In addition, he is the co-chairman of Tripartite Alliance for Fair Employment Practice, board member and chairman of Audit Committee of Ong Teng Cheong Labour Leadership Institute, President of the Singapore Golf Association. He is a director of SMRT Trains Ltd and the Inland Revenue Authority of Singapore. Mr Tan also serves as a member of the NTUC Club Management Council, and Singapore Manufacturing Federation's board of Governors.
Mr Tan was awarded the Public Service Star Award in 2010, the Friend of Labour Award in
2000 and the May Day Meritorious Service Award in 2013. He is a Fellow of the Institute of
Chartered Accountants in England and Wales.
Following the above changes, the Board and Board Committees of the Company will comprise the following members:
Mr Lim Jit Poh Chairman and Non-Executive Independent Director
Mr Lim Ming Yan Deputy Chairman and Non-Executive Non-Independent Director Mr (TA) Tay Boon Hwee Chief Executive Officer and Executive Non-Independent Director Mr Ku Moon Lun Non-Executive Independent Director
Mr Lee Chee Koon Non-Executive Non-Independent Director
Mr Tan Beng Hai Non-Executive Independent Director
Mr Zulkifli Bin Baharudin Non-Executive Independent Director
Audit Committee
Mr Ku Moon Lun, Chairman
Mr Tan Beng Hai
Mr Zulkifli Bin Baharudin
Corporate Disclosure Committee
Mr Lim Jit Poh, Chairman Mr (TA) Tay Boon Hwee Mr Lee Chee Koon
Executive Committee
Mr Lim Ming Yan, Chairman
Mr (TA) Tay Boon Hwee
Mr Lee Chee Koon
There is no change to the composition in the Executive Committee of the Company.
BY ORDER OF THE BOARD
Ascott Residence Trust Management Limited
(Company Registration no. 200516209Z) As manager of Ascott Residence Trust
Kang Siew Fong/ Regina Tan
Joint Company Secretaries
23 April 2015
The value of units in Ascott Residence Trust ("Units") and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by Ascott Residence Trust Management Limited (the "Manager"), as manager of Ascott Residence Trust, or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.
Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
The past performance of Ascott Residence Trust is not necessarily indicative of the future performance of Ascott
Residence Trust.
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