Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Shareholder Meeting (June 2014)
16 slides from Emirates Reit (ceic)'s shareholder meeting presentation, Jun 22, 2014
Slide 1: Welcome to our Annual General Meeting 22nd June 2014
Welcome to our Annual General Meeting 22nd June 2014
Slide 2: Agenda
Agenda I. 2014 - Notable events II. Current Shareholder structure III. Portfolio Summary IV. Performance V. Resolutions VI. Key Objectives 2014
Slide 3: Disclaimer and Important Notice
Disclaimer and Important Notice This presentation has been prepared by Emirates REIT Management (Private) Limited (the “REIT Manager”) on behalf of Emirates REIT (CEIC) Limited (the “REIT” or “Emirates REIT”). It comprises the written materials for a presentation solely for use at Emirates REIT's An
Slide 4: I. 2014 - Notable Events
I. 2014 - Notable Events 1. IPO 2. Debt Renegotiation 3. Acquisition of Le Grande Community Mall 4. Acquisition of Index Tower – 15.64 commercial floors
Slide 5: 1. IPO
1. IPO Gross Proceeds USD 201,250,000 3.5 times oversubscribed Number of new Shares issued 147,977,941 Total Number of Shares 299,620,541 Price per Share IPO Share Price – USD 1.36 Closing Price on 18th June 2014 – USD 1.44 Shareholders As at 18th June 2014 GCC 61.38% Non-GCC 38.62% Number
Slide 6: 2. Debt Renegotiation
2. Debt Renegotiation Previous Rate 5.5 % (3 month EIBOR +2.5%, no minimum) New Rate 3.24 % (3 month EIBOR +2.5%, no minimum) Reduction in Borrowing costs 41% Banks Ajman Bank PJSC - 28th April 2014 Emirates Islamic Bank - 1st May 2014
Slide 7: 3. Acquisition of Le Grande Community Mall
3. Acquisition of Le Grande Community Mall Profile Acquisition Date May 2014 Ownership Title Freehold Acquisition Price AED 118.2 million Net Leasable Area 86,396 sqft Occupancy 77 % Share of Portfolio NLA Area Breakdown 7.48 % 100 % retail
Slide 8: 4. Acquisition of Index Tower – Additional Office Floors
4. Acquisition of Index Tower – Additional Office Floors Profile Acquisition Date June 2014 Ownership Title Freehold Acquisition Price AED 613.5 million Net Leasable Area 15.64 floors Occupancy N/A
Slide 9: II. Current Shareholder Structure
II. Current Shareholder Structure
Slide 10: III. Portfolio Summary
III. Portfolio Summary Le Grande Community Mall Number of Market Value Net Leasable Portfolio Gross Yield Properties of Properties Area Occupancy Inc. Index Tower Assets Excl. Index Tower Assets Inc. Index Tower Assets Excl. Index Tower Assets 11 AED 1.4 bn c. 1.3 mn sqft 88% | 95.0% 9.4% | 11.0% Un
Slide 11: III. Portfolio Overview
III. Portfolio Overview From Jan. 2013 till May 2014 All Numbers exclude Index Tower Assets and are unaudited Source Emirates REIT Management (Private) Limited
Slide 12: III. Portfolio Overview
III. Portfolio Overview From Jan. 2013 till May 2014 All Numbers exclude Index Tower Assets and are unaudited Source Emirates REIT Management (Private) Limited
Slide 13: IV. Performance
IV. Performance Excluding Proposed Dividend Subject to Shareholders Approval
Slide 14: V. Resolutions
V. Resolutions Special Resolution 1 Revised Articles of Association Ordinary Resolution 1 Dividends Ordinary Resolution 2 Annual Report Ordinary Resolution 3 PwC as auditors Ordinary Resolution 4 Appoint Abdulla Al Hashemi onto the Investment Board Ordinary Resolution 5 – Related Parties authorisati
Slide 15: VI. Key Objectives 2014
VI. Key Objectives 2014 1. Developing Index Tower Asset 2. Enhance rental levels 3. Explore opportunities for expansion within existing assets
Slide 16: Thank you
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