| Other Issuer(s) for Stapled Security | |
| Name DBS TRUSTEE LIMITED |
|
| Announcement Title | Change - Announcement of Appointment |
| Date & Time of Broadcast | Oct 18, 2022 17:51 |
| Status | New |
| Announcement Sub Title | Appointment of Non-Independent Non-Executive Director |
| Announcement Reference | SG221018OTHRKZRB |
| Submitted By (Co./ Ind. Name) | Soo Lai Sun |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Appointment of Mr Kwek Eik Sheng as Non-Independent Non-Executive Director. |
| Additional Details | |
| Date Of Appointment | 20/10/2022 |
| Name Of Person | Kwek Eik Sheng |
| Age | 41 |
| Country Of Principal Residence | Singapore |
| The Board's comments on this appointment (including rationale, selection criteria, board diversity considerations, and the search and nomination process) | The Board of Directors of M&C REIT Management Limited (the Manager of CDL Hospitality Real Estate Investment Trust) ("H-REIT Manager") and M&C Business Trust Management Limited (the Trustee-Manager of CDL Hospitality Business Trust) ("HBT Trustee-Manager"), (collectively the "Boards"), have concurred with the recommendation of the Nominating and Remuneration Committees of the H-REIT Manager and the HBT Trustee-Manager for the appointment of Mr Kwek Eik Sheng. Mr Kwek is nominated by City Developments Limited ("CDL"), a substantial stapled securityholder of CDLHT, for appointment as a Non-Independent Non-Executive Director. The Boards are of the opinion that Mr Kwek's experience in the real estate and hospitality industries, as well as in strategic planning, will further complement and strengthen the core competencies and diversity of the Boards. |
| Whether appointment is executive, and if so, the area of responsibility | Non-executive |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Independent Non-executive Director |
| Professional qualifications | 2005 - 2006 Master of Philosophy in Finance, University of Cambridge, Cambridge, United Kingdom (UK). 2002 - 2005 Bachelor of Engineering in Electrical and Electronic Engineering, University of London, London, UK. |
| Any relationship (including immediate family relationships) with any existing director, existing executive officer, the issuer and/ or substantial shareholder of the listed issuer or any of its principal subsidiaries | Yes. (1) Cousin of Mr Yeo Wee Eng Vincent, Executive Director and Chief Executive Officer of H-REIT Manager and HBT Trustee-Manager. (2) Group Chief Operating Officer of CDL, a substantial stapled securityholder of CDLHT. (3) Executive Director of Millennium & Copthorne Hotels Limited ("M&C"), a substantial stapled securityholder of CDLHT. |
| Conflict of interests (including any competing business) | Nil, save for the relationships disclosed above. |
| Working experience and occupation(s) during the past 10 years | From January 2022 to Present Group Chief Operating Officer of CDL From April 2014 to December 2021 Group Chief Strategy Officer* of CDL * re-designated as Group Chief Strategy Officer on 1 February 2018 From November 2019 to Present Executive Director of M&C From April 2016 to June 2018 Head, Asset Management of CDL From Jan 2011 to March 2014 Head, Corporate Development of CDL |
| Undertaking submitted to the listed issuer in the form of Appendix 7.7 (Listing Rule 704(7)) Or Appendix 7H (Catalist Rule 704(6)) | Yes |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | 695,638 stapled securities in CDL Hospitality Trusts (direct interest) |
| # These fields are not applicable for announcements of appointments pursuant to Listing Rule 704 (9) or Catalist Rule 704 (8). | |
| Past (for the last 5 years) | Please refer to Annexure A |
| Present | Please refer to Annexure A |
| (a) Whether at any time during the last 10 years, an application or a petition under any bankruptcy law of any jurisdiction was filed against him or against a partnership of which he was a partner at the time when he was a partner or at any time within 2 years from the date he ceased to be a partner? | No |
| (b) Whether at any time during the last 10 years, an application or a petition under any law of any jurisdiction was filed against an entity (not being a partnership) of which he was a director or an equivalent person or a key executive, at the time when he was a director or an equivalent person or a key executive of that entity or at any time within 2 years from the date he ceased to be a director or an equivalent person or a key executive of that entity, for the winding up or dissolution of that entity or, where that entity is the trustee of a business trust, that business trust, on the ground of insolvency? | No |
| (c) Whether there is any unsatisfied judgment against him? | No |
| (d) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving fraud or dishonesty which is punishable with imprisonment, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such purpose? | No |
| (e) Whether he has ever been convicted of any offence, in Singapore or elsewhere, involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or has been the subject of any criminal proceedings (including any pending criminal proceedings of which he is aware) for such breach? | No |
| (f) Whether at any time during the last 10 years, judgment has been entered against him in any civil proceedings in Singapore or elsewhere involving a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, or a finding of fraud, misrepresentation or dishonesty on his part, or he has been the subject of any civil proceedings (including any pending civil proceedings of which he is aware) involving an allegation of fraud, misrepresentation or dishonesty on his part? | No |
| (g) Whether he has ever been convicted in Singapore or elsewhere of any offence in connection with the formation or management of any entity or business trust? | No |
| (h) Whether he has ever been disqualified from acting as a director or an equivalent person of any entity (including the trustee of a business trust), or from taking part directly or indirectly in the management of any entity or business trust? | No |
| (i) Whether he has ever been the subject of any order, judgment or ruling of any court, tribunal or governmental body, permanently or temporarily enjoining him from engaging in any type of business practice or activity? | No |
| (j) Whether he has ever, to his knowledge, been concerned with the management or conduct, in Singapore or elsewhere, of the affairs of :- | |
| (i) any corporation which has been investigated for a breach of any law or regulatory requirement governing corporations in Singapore or elsewhere; or | No |
| (ii) any entity (not being a corporation) which has been investigated for a breach of any law or regulatory requirement governing such entities in Singapore or elsewhere; or | No |
| (iii) any business trust which has been investigated for a breach of any law or regulatory requirement governing business trusts in Singapore or elsewhere; or | No |
| (iv) any entity or business trust which has been investigated for a breach of any law or regulatory requirement that relates to the securities or futures industry in Singapore or elsewhere, in connection with any matter occurring or arising during that period when he was so concerned with the entity or business trust? | No |
| (k) Whether he has been the subject of any current or past investigation or disciplinary proceedings, or has been reprimanded or issued any warning, by the Monetary Authority of Singapore or any other regulatory authority, exchange, professional body or government agency, whether in Singapore or elsewhere? | No |
| Any prior experience as a director of an issuer listed on the Exchange? | No |
| If no, please state if the director has attended or will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange | Though Mr Kwek has no prior experience being a director of an issuer listed on the Exchange, he was a non-executive Director of M&C (formerly known as Millennium & Copthorne Hotels plc) from 2011 to 2019, which has since been delisted from the London Stock Exchange. He continues as an executive Director of M&C post its delisting. He is a Non-Executive Director on the boards of Millennium & Copthorne Hotels New Zealand Limited and CDL Investments New Zealand Limited, both listed on the New Zealand's Exchange. He is also Chairman of Grand Plaza Hotel Corporation, listed on the Philippine Stock Exchange. Mr Kwek has completed some modules of the Listed Entity Directors Programme conducted by the Singapore Institute of Directors on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange. |
Attachments