Precinct Properties Nz Ltd & Precinct Properties Investments Ltd · NZX:PCT
Precinct Properties Nz Ltd & Precinct Properties Investments — Precinct Properties — Shareholder Meeting (November 2020)
30 slides from Precinct Properties Nz Ltd & Precinct Properties Investments's shareholder meeting presentation, Nov 17, 2020
Slide 1: Precinct Annual General Meeting
Precinct Annual General Meeting 17 November 2020
Slide 2: Welcome
Welcome and good morning Craig Stobo, Independent Director and Chair
Slide 3: Strong results
Strong results • Resilience of business − Premium assets − High quality client base − Dedication of people and partners • Completion of Commercial Bay • Earnings and dividend growth
Slide 4: Board and Executive Team
Board and Executive Team Board of Directors Craig Stobo Launa Inman Apology Independent Director and Chair Independent Director Mohammed Al Nuaimi Director Don Huse Rob Campbell Independent Director Director Anne Urlwin Chris Judd Independent Director Director Graeme Wong Independent Director Execut
Slide 5: Board composition and changes
Board composition and changes • Majority of Independent Directors maintained •Don Huse retires second half of 2020 • Newly appointed alternate Director −Aditya Bhargava to replace Anthony Bertoldi
Slide 6: Meeting agenda
Meeting agenda • Review Precinct performance and activity • Shareholder questions and discussion. Starting with in person questions before moving to online questions • Consider and vote on three ordinary resolutions
Slide 7: Online questions and voting
Online questions and voting • Questions can now be submitted through the webcast for those attending virtually • Questions will be addressed at relevant time in meeting • Opening of voting
Slide 8: Board succession planning
Board succession planning •Craig Stobo and Launa Inman retire in accordance with NZX Listing Rule 2.7 and stand for re-election •Launa announces decision to retire •Successor to be announced early in the new year •Director remuneration rates unchanged
Slide 9: 2020 results highlights
2020 results highlights +5.9% 8.0 year AFFO Increase WALT +5.0% 98% Dividend Increase Occupancy
Slide 10: Business continuity through Covid-19
Business continuity through Covid-19 •Health and wellbeing of our people •Additional health and safety requirements •No significant injuries during FY20 •Completed over 900 principal audit and monitoring inspections
Slide 11: FY21 dividend
FY21 dividend 6.50cps FY21 AFFO guidance 6.50cps FY21 Dividend guidance 10th December 2020 FY21 Q1 dividend payment
Slide 12: Sustainability
Sustainability Our goal is to create sustainable value through city centre real estate i
Slide 13: Carbonzero certification
Carbonzero certification TOITU x "75 G RE S B S 14064-1 NABERS|NZ REAL ESTATE ORGANISATION Member TCFD | TASK FORCE ON CLIMATE-RELATED Xe FINANCIAL DISCLOSURES Precinct creating a sustainable future
Slide 14: Successful strategy
Successful strategy We are focused on our people and partners, operational excellence, and developing the future
Slide 15: Quality portfolio
Quality portfolio Precinct received over 90% of it’s income during the New Zealand Level 3 and 4 lockdown periods
Slide 16: ANZ Centre Sale
ANZ Centre Sale • ANZ Centre capital recycling for remaining 50% progressing well
Slide 17: Our markets
Our markets • Office remains as important as ever − Critical to business success, and attracting and fostering talent. • Auckland city centre − New supply already leased • Wellington city centre − Solid government demand
Slide 18: Generator
Generator 13% lift in revenue Expansion of Generator’s offering into Wellington
Slide 19: Opening of Commercial Bay
Opening of Commercial Bay
Slide 20: Wynyard Quarter Stage 2
Wynyard Quarter Stage 2 100% preleased
Slide 21: Bowen Campus stage two
Bowen Campus stage two Pre-commitment leasing 72% − EY − Fujitsu − Generator Completion scheduled late 2022
Slide 22: One Queen Street
One Queen Street • Committed to redeveloping One Queen Street
Slide 23: Conclusion and outlook
Conclusion and outlook • Progressing opportunities 98% • Growing position in coworking and flexible Occupancy space market • FY21 dividend guidance demonstrates successful execution of long term strategy
Slide 24: Shareholder Q&A
Shareholder Q&A
Slide 25: Formal Business
Formal Business
Slide 26: Resolution 1
Resolution 1 That Craig Stobo be re- elected as a director of Precinct The Board unanimously recommend that shareholders vote in favour
Slide 27: Resolution 2
Resolution 2 That Launa Inman be re- elected as a director of Precinct The Board unanimously recommend that shareholders vote in favour
Slide 28: Resolution 3
Resolution 3 That the directors be authorised to fix the remuneration of Ernst & Young as auditor for the ensuing year.
Slide 29: Voting and closure
Voting and closure •We will now proceed to a poll and conclude the meeting •The results will be announced to the NZX
Slide 30: Thank you
Thank you Precinct
Precinct Properties — Shareholder Meeting (November 2020) on 6ix