News
Change - Announcement Of Cessation Of Deputy Chief Executive Officer And Chief Financial Officer
BackMar 07, 2023
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 7, 2023 18:08 |
| Status | New |
| Announcement Sub Title | Cessation of Deputy Chief Executive Officer and Chief Financial Officer |
| Announcement Reference | SG230307OTHRM72K |
| Submitted By (Co./ Ind. Name) | LUN CHEE LEONG |
| Designation | COMPANY SECRETARY |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Deputy Chief Executive Officer and Chief Financial Officer |
| Additional Details | |
| Name Of Person | Bedi Harmeet Singh |
| Age | 54 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 08/03/2023 |
| Detailed Reason (s) for cessation | Following Mr Bedi Harmeet Singh's appointment as the Chief Executive Officer of the Company, he will relinquish the roles of Deputy Chief Executive Officer and Chief Financial Officer of the Manager at the same time. |
| 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 | 22/05/2020 |
| 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) | 3 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 3 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Deputy Chief Executive Officer and Chief Financial Officer |
| Role and responsibilities | Supporting the outgoing Chief Executive Officer of the Company, Ms Barbara Ruth Cambon (who will be retiring on 8 March 2023), in executing the overall growth strategies of PRIME while specifically helming the finance and investor relations functions. His responsibilities cover the formulation and execution of PRIME's financial strategies, capital raising and capital management, financial risk management, treasury, tax, financial reporting, and investor engagement. |
| 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 | 755,210 units in Prime US REIT |
| Past (for the last 5 years) | 1) Maybank Kim Eng Singapore Pte Ltd (Chief Executive Officer and Executive Director) (July 2014 to May 2020) 2) Maybank Asset Management Singapore Pte Ltd (Non-Executive Director) (January 2017 to March 2020) 3) Kim Eng Securities India Pvt Ltd (Non-Executive Director) (September 2016 to April 2020) 4) FXDS Learning Group Pte Ltd (Non-Executive Director) (September 2019 to May 2020) 5) KE Finance (Singapore) Pte Ltd (Non-Executive Director) (April 2016 to June 2020) |
| Present | Nil |