News
Change - Announcement Of Cessation As Chief Executive Officer
Feb 14, 2023
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Feb 14, 2023 7:22 |
| Status | New |
| Announcement Sub Title | Announcement of Cessation as Chief Executive Officer |
| Announcement Reference | SG230214OTHRIG8T |
| Submitted By (Co./ Ind. Name) | Catherine Yeo |
| Designation | Company Secretary |
| Description (Please provide a detailed description of the event in the box below) | Announcement of Cessation as Chief Executive Officer |
| Additional Details | |
| Name Of Person | Robert Stuart Claude Wallace |
| Age | 51 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 01/06/2023 |
| Detailed Reason (s) for cessation | Mr Robert Stuart Claude Wallace has decided to step down as the Chief Executive Officer of Frasers Logistics & Commercial Asset Management Pte. Ltd. ("FLCAM"), the manager of Frasers Logistics & Commercial Trust ("FLCT") for family reasons. He has decided to return to Australia to be with his family. The board of directors ("Board") of FLCAM expresses its appreciation to Mr Wallace for his service and contributions during his tenure and extends its best wishes to him for his future endeavours. Mr Wallace will remain as the Chief Executive Officer until the effective date of his cessation and will be working closely with the Board and the management team of FLCAM to ensure a smooth transition. The appointment of a new Chief Executive Officer will be announced in due course. |
| 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 | 20/06/2016 |
| 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) | 4 |
| 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 | The Chief Executive Officer has full executive responsibilities over the business directions and operational decisions in the day-to-day management of FLCAM, and is responsible for the execution of strategies and policies approved by the Board of FLCAM. He works closely with the Board and the management team of FLCAM to drive the overall business and investment strategies of FLCT. He provides leadership for the day-to-day management of the business to ensure the effective implementation of FLCT's business plans. |
| Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries | No |
| Shareholding interest in the listed issuer and its subsidiaries? | Yes |
| Shareholding Details | Mr Wallace holds 45,800 units in FLCT, and holds 361,402 awards under the FLCAM Restricted Unit Plan ("RUP") pursuant to which up to 451,352 units in FLCT under the FLCAM RUP may be vested or delivered. |
| Past (for the last 5 years) | Please see Appendix A |
| Present | Please see Appendix A |
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