Change - Announcement Of Resignation Of Chief Executive Officer
BackNov 11, 2016
| Announcement Title | Change - Announcement of Cessation |
| Announcement Subtitle | RESIGNATION OF CHIEF EXECUTIVE OFFICER |
| Securities | IREIT GLOBAL (IREITGBL) |
| Date & Time of Broadcast | Nov 11, 2016 20:41 |
| Submitted By | Lee Wei Hsiung Company Secretary |
| Description | Resignation of Chief Executive Officer |
| Cessation Details | |
| Name of person | Itzhak Sella |
| Age | 56 |
| Is effective date of cessation known? | No |
| If no, please advise when the date will be announced | The effective date of Mr Itzhak Sella's cessation as Chief Executive Officer would be announced on a later date. |
| Detailed reason(s) for cessation | Mr Itzhak Sella resigned as the Executive Director and Chief Executive Officer of the Company following completion of the sale of 80% of the shares of IREIT Global Group Pte. Ltd. (which is the manager of IREIT Global) pursuant to the terms of the Share Purchase Agreement dated 5 October 2016. The effective date of Mr Itzhak Sella's resignation as Executive Director is 11 November 2016. The effective date of Mr Itzhak Sella's cessation as Chief Executive Officer would be announced on a later date. |
| 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 | Nov 22, 2013 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | Yes |
| Number of independent directors currently resident in Singapore (taking this 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 | 0 |
| Job Title | Chief Executive Officer and Executive Director |
| Role and responsibilities | Executive. Responsible for strategic planning, overall day-to-day management and operations of the Manager. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidaries | None |
| Shareholdings interest in the listed issuer and its subsidaries? | Yes |
| Shareholding Details | 1,450 Units in IREIT Global |
| Other directorships | |
| Past (for the last 5 years) | Laughing Rock 10 B.V. IREIT Global Group Pte. Ltd. IREIT Global Holdings Pte. Ltd. IREIT Global Holdings 1 Pte. Ltd. IREIT Global Holdings 2 Pte. Ltd. IREIT Global Holdings 3 Pte. Ltd. IREIT Global Holdings 4 Pte. Ltd. IREIT Global Investments Pte. Ltd. IREIT Global Investments 1 Pte. Ltd. IREIT Global Investments 2 Pte. Ltd. IREIT Global Investments 3 Pte. Ltd. IREIT Global Investments 4 Pte. Ltd. |
| Present | Sella Capital Investments Ltd Sella Holdings Pte. Ltd. IDOMY Ltd IREIT Global Management Pte. Ltd. Laughing Rock 1 B.V. Laughing Rock 2 B.V. Laughing Rock 3 B.V. Laughing Rock 4 B.V. Laughing Rock 5 B.V. Laughing Rock 6 B.V. Laughing Rock 7 B.V. Laughing Rock 8 B.V. Laughing Rock 9 B.V. Laughing Rock 11 B.V. Laughing Rock 12 B.V. Laughing Rock 13 B.V. Laughing Rock 14 B.V. |
