Page 44 - Forterra

42 FORTERRA
ANNUAL REPORT 2012
REPORT OF THE TRUSTEE-MANAGER
OF FORTERRA TRUST
Directors’ Interests
According to the register kept by the Trustee-Manager for the purposes of Section 76 of the Singapore
Business Trusts Act, Chapter 31A (the “Act”), particulars of interests of directors who held office at the
beginning of the financial year, or the date of appointment if later, and at the end of the financial year in
units of the Trust are as follows:
Direct Interest in Units Deemed Interest in Units
As at
1/1/2012
/date of
appointment
As at
31/12/2012
As at
1/1/2012
As at
31/12/2012
/date of
appointment
Richard Joseph Barrett 15,649,720 17,801,720 29,541,770 27,389,770
Peter Graham Sugden 15,000 15,000 – –
Richard Anthony David 276,451 276,451 – –
Rory John Williams 400,000 400,000 610,000 610,000
Except as disclosed in the “Unit Options” section of this report, neither at the end of, nor at any time
during the financial year, was the Trustee-Manager a party to any arrangement whose objects are, or one
of whose objects is, to enable the directors of the Trustee-Manager to acquire benefits by means of the
acquisition of units in or debentures of the Trust.
There were no changes in any of the above mentioned interest in the Trust between the end of the
financial year and 21 January 2013.
Directors’ interests in contracts
During the financial year, no director received or was entitled to receive a benefit in the Trust by reason of
a contract made by the Trustee-Manager, on behalf of the Trust or related corporation, with the Director,
or with a company of which such Director was a member or had a substantial financial interest, except
as disclosed in Note 30 to the financial statements.
Directors’ independence
For the purposes of the Code of Corporate Governance 2012, Mr. Sugden, Dr. Tan and Mr. Yoon are
considered:
(a) independent from management and business relationships with the Trustee-Manager;
(b) independent from management and business relationships with the Trustee-Manager and from every
substantial shareholder of the Trustee-Manager; and
(c) independent from every substantial shareholder of the Trustee-Manager.