Change - Announcement Of Resignation Of Chief Executive Officer
BackMay 12, 2023
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | May 12, 2023 17:44 |
| Status | New |
| Announcement Sub Title | Resignation of Chief Executive Officer |
| Announcement Reference | SG230512OTHRUX1M |
| Submitted By (Co./ Ind. Name) | Wang Shaldine |
| Designation | CEO |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Chief Executive Officer ("CEO"). |
| Additional Details | |
| Name Of Person | Wang Shaldine |
| Age | 51 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 17/06/2023 |
| Detailed Reason (s) for cessation | As part of the regular succession and leadership renewal process, Ms Wang will relinquish her role as Chief Executive Officer of Elite Commercial REIT Management Pte. Ltd. to assume another senior management role within the Elite Partners Group. The Board of Directors of Elite Commercial REIT Management Pte. Ltd., as manager of Elite Commercial REIT (the "REIT Manager") wishes to take this opportunity to thank Ms Wang for her services to the REIT Manager and Elite Commercial REIT during her term of office. |
| 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 | 08/01/2020 |
| 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) | 4 |
| 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 Member of the Sustainability Committee |
| Role and responsibilities | Ms Wang is principally responsible for management and conduct of the business of the REIT Manager. She has full executive responsibilities over the business direction and operational decisions in managing the REIT. |
| 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? | No |
| Past (for the last 5 years) | 1. Regal Sheen Investment Limited |
| Present | 1. Elite UK Commercial Holdings Limited 2. Elite UK Commercial Investment Limited 3. Elite UK Commercial Limited 4. Elite Gemstones Properties Limited 5. Elite Kist Limited 6. Elite Amphora Limited 7. Elite Cask Limited 8. Elite Commercial REIT Management (UK) Pte Ltd |
