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Two Sabana REIT Directors Resign From Board

Two Sabana REIT Directors Resign From Board

March 25, 2021 – Sabana REIT announced that two of their independent non-executive directors tenedered notices of resignations after receiving resistance from “certain unitholders”.

In an announcement, Sabana REIT said Independent Non-Executive Directors Mr Yeo Wee Kiong and Mr Willy Shee Ping Yah @ Shee Ping Yan will no longer hold their position in the REIT.

This is as “certain unitholders”, which hold 12% of Sabana REIT’s total units said they do not intend to endorse the respective continuing appointments to the Manager Board of the two Independent Non-Executive Directors.

Sabana REIT did not bare any further details about these certain unitholders.

“In response, Mr. Yeo and Mr. Shee have decided to withdraw their consent to stand for such endorsement. They have accordingly decided to tender their resignations which shall take effect before the Annual General Meeting,” Sabana REIT said.

Read more here..

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