News
Change - Announcement Of Cessation :: Resignation As Executive Director And Chief Executive Officer
BackAug 31, 2018
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Aug 31, 2018 18:47 |
| Status | New |
| Announcement Sub Title | Resignation as Executive Director and Chief Executive Officer |
| Announcement Reference | SG180831OTHRN1P7 |
| Submitted By (Co./ Ind. Name) | Kim Yi Hwa |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Change of resignation date of Executive Director and Chief Executive Officer ("CEO"). The Company refers to its announcement reference no. SG180618OTHR0NBV released on 18 June 2018 on Mr. Philip Levinson's resignation as Executive Director and CEO of Cromwell EREIT Management Pte. Ltd. ("CEM"). As a new Executive Director and CEO will be appointed in early September 2018, CEM and Mr. Levinson have mutually agreed that Mr. Levinson's last day of service with CEM will be on 2 September 2018 instead of 31 August 2018 as previously announced. Sponsorship statement: Goldman Sachs (Singapore) Pte. and UBS AG, Singapore Branch are the joint issue managers for the Offering. DBS Bank Ltd., Goldman Sachs (Singapore) Pte., and UBS AG, Singapore Branch are the joint global coordinators for the Offering. DBS Bank Ltd., Goldman Sachs (Singapore) Pte., UBS AG, Singapore Branch, Daiwa Capital Markets Singapore Limited and CLSA Singapore Pte Ltd are the joint bookrunners and underwriters for the Offering. |
| Additional Details | |
| Name Of Person | Philip Levinson |
| Age | 54 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 02/09/2018 |
| Detailed Reason (s) for cessation | Resignation to pursue other business interests, including the provision of advisory services to the Cromwell Property Group. |
| 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 | 17/08/2017 |
| 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 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Executive Director and CEO |
| Role and responsibilities | Executive Director and CEO of Cromwell EREIT Management Pte. Ltd., the Manager of Cromwell European Real Estate Investment Trust ("CEREIT"). Works with the Board of Directors to determine the strategy and is responsible for overall day-to-day management and operations of CEREIT. |
| 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? | No |
| Past (for the last 5 years) | Cambridge Industrial Trust Management Limited (now known as ESR Funds Management (S) Limited) Taurus Wealth Advisors Pte. Ltd. Cambridge SPV1 LLP Cambridge SPV2 Pte. Ltd. Cambridge-MTN Pte. Ltd. ( now know as ESR-MTN Pte. Ltd.) Asia Pacific Real Estate Association Limited |
| Present | Cromwell EREIT Management Pte. Ltd. Penmount Partners Pte. Ltd. Penmount Properties Pte. Ltd . Cromwell SG SPV 1 Pte. Ltd. Cromwell SG SPV 2 Pte. Ltd. Cromwell SG SPV 3 Pte. Ltd. Cromwell SG SPV 4 Pte. Ltd. Cromwell SG SPV 5 Pte. Ltd. |