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INGENIA COMMUNITIES GROUP — Board/Management Information 2011
Dec 14, 2011
65125_rns_2011-12-14_386a0938-ee8b-4caf-a353-710e66abebd4.pdf
Board/Management Information
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ASX Announcement
REAL ESTATE INVESTMENT MANAGEMENT
Date
15 December 2011
Fund
ING Real Estate Community Living Group
Dissolution of IML Compliance Committee
ING Management Limited (“IML”) today announces the dissolution of its Compliance Committee. Following its retirement as Responsible Entity (RE) for ING Real Estate Entertainment Fund (IEF), the IML Board considers that efficiencies are no longer gained by having a separate Compliance Committee for IML’s remaining fund – ING Real Estate Community Living Group (ILF). The responsibilities of this committee will be resumed by the IML Board.
As IML has always had a majority of external directors (as defined by s601JA of the Corporations Act), it has never been required to have a Compliance Committee under the Corporations Act. While it was the RE of ING’s five listed funds, however, it was considered that compliance matters for this wider group would be most efficiently dealt with in a separate focused forum.
The IML Board thanks its Independent Director, Mr Michael Easson, for his stewardship of the Compliance Committee since the retirement of former Independent Director, Mr Paul Scully, on 30 June 2011.
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REAL ESTATE INVESTMENT MANAGEMENT
For further information, please contact
Simon Owen Chief Executive Officer -
ING Real Estate Community Living Group ING Real Estate Investment Management Australia T: +61 2 9033 1310 M: +61 412 389 339
About ING Real Estate Community Living Group
ING Real Estate Community Living Group (ASX code: ILF) is an externally managed ASX-listed real estate investment trust that owns, manages and develops a diversified portfolio of seniors housing communities. The Fund has total look-through assets under management of $644 million with operations located predominantly throughout Australia and the United States.
About ING Real Estate Investment Management
ING Real Estate Community Living Group is the remaining listed real estate investment trust that is managed by ING Real Estate Investment Management Australia. ING Real Estate Investment Management is part of ING Group, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries
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