News
Change - Announcement Of Resignation Of Non-Independent Non-Executive Director
BackApr 27, 2026
| Announcement Title | Change - Announcement of Cessation |
| Date & Time of Broadcast | Apr 27, 2026 19:40 |
| Status | New |
| Announcement Sub Title | Resignation of Non-Independent Non-Executive Director |
| Announcement Reference | SG260427OTHRFY4C |
| Submitted By (Co./ Ind. Name) | Simon Garing |
| Designation | Chief Executive Officer and Executive Director |
| Description (Please provide a detailed description of the event in the box below) | Resignation of Non-Independent Non-Executive Director |
| Additional Details | |
| Name of person | Yovav Carmi |
| Age | 58 |
| Is effective date of cessation known? | Yes |
| If yes, please provide the date. | 27/04/2026 |
| Detailed reason(s) for cessation | Mr. Yovav Carmi is stepping down as Non-Independent Non-Executive Director of Stoneweg EREIT Management Pte. Ltd. (as manager of Stoneweg European Real Estate Investment Trust) and Stoneweg EBT Management Ptd. Ltd. (as the trustee-manager of Stoneweg European Business Trust) (collectively, the "Manager") with effect from 27 April 2026. Mr. Carmi was appointed of the Board following the change of Sponsor of Stoneweg Europe Stapled Trust ("SERT") in December 2024 to provide support and guidance during a transitional period, and to assist in stabilising SERT's organisational structure and aligning SERT's strategy with Stoneweg, as the new Sponsor. With the transition phase now largely completed, Mr. Yovav Carmi is stepping down with immediate effect. |
| 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 | 24/12/2024 |
| Job title (e.g. Lead ID, AC Chairman, AC Member etc.) | Non-Independent Non-Executive Director, Chairman of Sustainability Committee |
| Role and responsibilities | As above. |
| 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) | 3 |
| Do independent directors make up at least one-third of the board (taking into account this cessation)? | Yes |
| Number of cessations of appointments specified in Mainboard Rule 704(7) or Catalist Rule 704(6) over the past 12 months | 3 |
| Shareholding interest in the listed issuer and its subsidiaries | Yes |
| Shareholding details | Deemed Interested in 60,000 Stapled Securities of SERT held through Habaita Management Kft. |
| Familial relationship with any director and/or substantial shareholder of the listed issuer or of any of its principal subsidiaries | Nil |
| Other Directorships Past (for the last 5 years) |
Globe Trade Centre S.A. GTC Hungary Real Estate Development Company PLTD Habaita Project 1 SPZOO |
| Present | MAS P.L.C. - Director B.H. Ventures Kfr - Director Accadia Property Management Kft - Director Habaita Management Kft -Director Habaita Holdings Limited Director Habaita Ventures Limited - Director |