News
Change - Announcement Of Resignation Of Chief Executive Officer
BackMar 15, 2024
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 15, 2024 17:52 |
| Status | New |
| Announcement Sub Title | Resignation of Chief Executive Officer |
| Announcement Reference | SG240315OTHRI1FW |
| Submitted By (Co./ Ind. Name) | LUN CHEE LEONG |
| Designation | COMPANY SECRETARY |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Chief Executive Officer |
| Additional Details | |
| Name Of Person | Harmeet Singh Bedi |
| Age | 56 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 31/03/2024 |
| Detailed Reason (s) for cessation | Mr Harmeet Singh Bedi is leaving to pursue other opportunities. The Board wishes to place on record its appreciation to Mr Harmeet Singh Bedi for his invaluable contributions and guidance during his tenure and extends its best wishes to Mr Harmeet Singh Bedi in his future endeavours. |
| 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 | 08/03/2023 |
| 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) | 2 |
| 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.) | Chief Executive Officer |
| Role and responsibilities | Mr Harmeet Singh Bedi works closely with the Board and Management team to define and execute the overall corporate and growth strategy for PRIME US REIT, while overseeing its strategic development, day-to-day management and operations. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | None |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 913,935 Units |
| 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 | 1) Prime US Sub-REIT, Inc. 2) Prime US REIT S1 Pte. Ltd. 3) Prime US REIT S2 Pte. Ltd. 4) Prime US REIT S3 Pte. Ltd. 5) Karanisha Pte. Ltd. 6) Red Dot Advisory Service Pte. Ltd. |