Annual Report 2007 - The Link REIT

Annual Report 2007
The Link Real Estate Investment Trust
55
Corporate Governance Report
iii)
iv)
approval of sale and acquisition of properties;
approval of appointment and removal of the Chief Executive Officer, other Executive Directors and the Company
Secretary or any other directors as recommended by the Nomination Committee;
v) approval of any matter which would have a material effect on The Link REIT’sfinancial position, liabilities, future strategy
or reputation; and
vi)
approval of the powers and authority delegated to the various Board Committees.
Appointment and Removal of Directors
Directors may be nominated for appointment and/or removal by :
i) the Board of Directors following a recommendation made by the Nomination Committee; or
ii)
any unitholder in accordance with the terms of the Trust Deed.
Upon receipt of a valid request from unitholders pursuant to the terms of the Trust Deed, the Manager shall convene a
meeting of unitholders for the purpose of seeking the approval of unitholders for any proposed appointment, re-appointment
or removal of Directors by way of ordinary resolution. The quorum for such general meeting of unitholders to consider the
appointment, re-appointment or removal of a Director as approved or recommended by the Nomination Committee is two
or more unitholders present in person or by proxy registered as holding not less than 10% of the units for the time being
issued and outstanding, whilst the quorum where such appointment, re-appointment or removal has not been approved or
recommended by the Nomination Committee is two or more unitholders present in person or by proxy registered as holding
not less than 25% of the units for the time being issued and outstanding. Subject to any legal obligation of the Manager to
the contrary, unitholders have the right to remove an incumbent Director in accordance with the terms of the Trust Deed. A
Director may also be removed from office if served with a notice to that effect signed by all the other Directors. An outgoing
Director shall abstain from voting in respect of a resolution proposed at a Board meeting in respect of the appointment of his
successor or his re-appointment.
Independence of Directors
The Manager has received an annual confirmation of independence from each of the Independent Non-Executive Directors
during the year and has assessed their independence. The Board concluded that all the Independent Non-Executive Directors
are independent and meet with the criteria set forth in the corporate governance policy of The Link REIT.
Information to the Board
Regular reports are presented to all Directors to ensure that they are well informed of the business developments and progress
of The Link REIT. In order to ensure effective and efficient Board or Committee meetings, procedures are in place to ensure that
adequate advance notices are given to all members concerned so as to allow maximum participation in the meetings. Prior to
the meetings, sufficient information and materials are also provided to members. When considered necessary, Board members
can obtain independent advice from external professional parties at the expense of The Link REIT.