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Change - Announcement Of Cessation Of Non-Executive Director
BackJul 29, 2022
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Jul 29, 2022 18:21 |
| Status | New |
| Announcement Sub Title | Announcement on Cessation of Non-Executive Director |
| Announcement Reference | SG220729OTHR6RBG |
| Submitted By (Co./ Ind. Name) | Adrian Chui |
| Designation | CEO & Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Please refer to the attached announcement. |
| Additional Details | |
| Name Of Person | Tong Jinquan |
| Age | 67 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 29/07/2022 |
| Detailed Reason (s) for cessation | As Mr Tong is no longer a substantial shareholder of ESR-LOGOS Funds Management (S) Limited, Mr Tong has tendered his resignation as Non-Executive Director of the Board. |
| 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 | 08/01/2019 |
| 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 | 2 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Executive Director |
| Role and responsibilities | Board Member |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Shanghai Summit Pte. Ltd. ("SSPL") owns 1% of ESR-LOGOS Funds Management (S) Limited. SSPL is wholly-owned by Mr Tong Jinquan. Wealthy Fountain Holdings Inc holds 60 ESR-LOGOS REIT units and Skyline Horizon Consortium Ltd holds 13,172,094 ESR-LOGOS REIT units. Both Wealthy Fountain Holdings Inc and Skyline Horizon Consortium Ltd are wholly-owned by Shanghai Summit. Leading Wealth Global Inc ("LWG") holds 242,012,678 ESR-LOGOS REIT units and is a wholly-owned subsidiary of Longemont Real Estate Pte Ltd, which is in turn a wholly-owned subsidiary of Shanghai Summit (Group) Co., Ltd. ("SSGCL"). Both SSPL and SSGCL are wholly-owned by Tong Jinquan. Therefore, Tong Jinquan is deemed to be interested in the 255,184,832 ESR-LOGOS REIT units held by LWG, Wealthy Fountain Holdings Inc and Skyline Horizon Consortium Ltd. |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Tong holds 6.411% in ESR-LOGOS REIT (both direct and deemed interest). |
| Past (for the last 5 years) | Viva Industrial Trust Management Pte. Ltd. (Manager of Viva Trust) IREIT Global Group Pte. Ltd. (Manager of IREIT Global) New Century Asset Management Limited (Manager of New Century Real Estate Investment Trust) |
| Present | Shanghai Summit (Group) Co., Ltd Shanghai Changfeng Real Estate Development Co., Ltd. Shanghai Summit Pte. Ltd. |