| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Mar 17, 2023 17:23 |
| Status | New |
| Announcement Sub Title | Cessation of Independent Director - Mr Sandip Talukdar |
| Announcement Reference | SG230317OTHRKPLQ |
| Submitted By (Co./ Ind. Name) | Liew Chee Seng James |
| Designation | Executive Director and CEO, LMIRT Management Ltd. (as manager of Lippo Malls Indonesia Retail Trust) |
| Description (Please provide a detailed description of the event in the box below) | Cessation of Mr Sandip Talukdar as Independent Director and member of the Audit and Risk Committee and Nominating and Remuneration Committee |
| Additional Details | |
| Name Of Person | Sandip Talukdar |
| Age | 51 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date | 31/03/2023 |
| Detailed Reason (s) for cessation | The Board refers to the announcement on Ms Gouw Vi Ven's redesignation from Non-Executive Non-Independent Director to Independent Director effective 31 March 2023. As part of the Board's annual review of the composition and size of the Board and in view of the redesignation of Ms Gouw to Independent Director, the Board is of the view that a board size of four is appropriate having considered the background, experience, skills and expertise of the current board members and taking into consideration the needs of the LMIR Trust and its current operating environment. Accordingly, Mr Sandip Talukdar ("Mr Talukdar") has decided to step down as Independent Director of LMIRT Management Ltd. (the "Manager"). Following Mr Talukdar's resignation, he will also cease to be a member of the Audit and Risk Committee and Nominating and Remuneration Committee. The Board expresses its appreciation to Mr Talukdar for his contribution during his tenure as an Independent Director of the Manager. |
| 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 | 15/07/2020 |
| Does the AC have a minimum of 3 members (taking into account this cessation)? | No |
| Number of Independent Directors currently resident in Singapore (taking into account this cessation) | 1 |
| Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months | 0 |
| Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) | Audit and Risk Committee Member and Nominating and Remuneration Committee Member |
| Role and responsibilities | Non-Executive |
| 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) | N.A. |
| Present | N.A. |
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