City Developments : CDL: Announcement of Retirement of Independent Director at AGM

Issuer/ Manager

CITY DEVELOPMENTS LIMITED

Securities

CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09

Announcement Title

Change - Announcement of Cessation

Date & Time of Broadcast

23-Apr-2014 19:35:23

Status

New

Announcement Sub Title

Announcement of Retirement of Independent Director at AGM

Announcement Reference

SG140423OTHRJBLH

Submitted By (Co./ Ind. Name)

Enid Ling Peek Fong

Designation

Company Secretary

Description (Please provide a detailed description of the event in the box below)

Announcement of Cessation as Independent Director who is the

Chairman of Audit & Risk, Nominating and Remuneration Committees

Name Of Person

Chee Keng Soon

Age

81

Is effective date of cessation known?

Yes

If yes, please provide the date

23/04/2014

Detailed Reason (s) for cessation

Mr Chee Keng Soon, who was due to retire at the 51st Annual General Meeting of the Company (AGM) pursuant to Section 153(6) of the Companies Act, Chapter 50 of Singapore did not seek re-appointment as a Director at the AGM. Consequent thereto, Mr Chee ceased to act as Lead Independent Director and the chairman of the Audit & Risk, Nominating and Remuneration Committees, following the conclusion of the AGM.

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

29/03/1995

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)

5

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.)

Lead Independent Director and the chairman of the Audit & Risk, Nominating and Remuneration Committees

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

Nil

Shareholding interest in the listed issuer and its subsidiaries?

No

Past (for the last 5 years)

Nil

Present

Nil