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Eagle Hospitality Trust's Wu and Woods to quit following discovery of 'prejudicial' transactions

Uma Devi
Uma Devi5/20/2020 01:18 PM GMT+08  • 3 min read
Eagle Hospitality Trust's Wu and Woods to quit following discovery of 'prejudicial' transactions
EHT's non-executive chairman Howard Wu and deputy chairman Taylor Woods have handed in their resignations after they were found to have inked transactions that were "not on commercial terms" and "prejudicial" to the interests of the REIT.
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SINGAPORE (May 20): Eagle Hospitality Trust’s (EHT) non-executive chairman Howard Wu and deputy chairman Taylor Woods are set to resign from the Board of Directors, the REIT announced on Wednesday.

Both Wu and Woods, who also double-up as co-founders and principals of the REIT’s sponsor Urban Commons, are set to resign with effect from May 26.

The resignations follow the discovery of interested party transactions that were inked by the duo on behalf of trust’s master-lessor subsidiaries. The transactions in question were uncovered during an ongoing strategic review of EHT’s business.

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