Dexus Convenience Retail REIT · ASX:DXC
Dexus Convenience Retail REIT — APN Property Group — Investor Presentation (April 2015)
27 slides from Dexus Convenience Retail REIT's investor presentation, Apr 28, 2015
Slide 1: Equity Raising Presentation
EQUITY RAISING PRESENTATION 28 APRIL 2015
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This investor presentation (Presentation) has been prepared by APN Property Group Limited (ACN 109 846 068) (APN) in relation to an accelerated pro rata non-renounceable entitlement issue (Rights Issue) and placement to institutional investors (Placement), (collective
Slide 3: Executive Summary
Executive Summary APN Property Group Limited (ASX Code: APD) (APN) is undertaking a $30.0 million equity raising to fund a range of initiatives □ Issue price of $0.37 □ 7.9% discount to 1-month VWAP of $0.4016 The equity raising comprises: □ $13.6 million placement to institutional and sophistic
Slide 4: Agenda
AGENDA Company overview New initiatives and application of funds Equity raising Key risks Appendix Chris Aylward Tim Slattery Michael Groth Executive Chairman Executive Director Chief Financial Officer 4
Slide 5: Company Overview
COMPANY OVERVIEW APN | Property Group
Slide 6: Company Overview
Company Overview Board of Directors Share Price and Volume (last 12 months) Chris Aylward Executive Chairman $0.50 Volume ('000s) Share Price 5,000 Howard Brenchley Non-Executive Director $0.45 4,000 Clive Appleton Non-Executive Director $0.40 $0.35 3,000 Tim Slattery Executive Director $0.30 John F
Slide 7: Property for income
APN’s platform offers... Specialist commercial real estate expertise... ... Across multiple risk / return profiles $1,225 million $390 million Funds Under Management1 Funds Under Management1 Securities $187 million Direct $406 million Funds Under Management1 Funds Under Management1 6% - 8% 9% - 11%
Slide 8: A solid start to 2015...
A solid start to 2015... Securities FUM Growth ($ million) AREIT Fund monthly net inflows of ~$17.5 million 2207 average 2128 Asian operations transitioning to Melbourne 2023 Generation Healthcare REIT $45.8 million expansion into aged care sector 1787 Organic growth pipeline enhanced with c
Slide 9: New Initiatives and Application of Funds
NEW INITIATIVES AND APPLICATION OF FUNDS 9
Slide 10: New business initiatives
Overview of new initiatives Investment Commentary / rationale opportunity Participate in the announced growth of the fund into aged care subsector Generation Healthcare Attractive investment opportunity REIT Creates capacity to support delivery of committed organic growth pipeline The Marketpl
Slide 11: Investment rationale
Investment rationale Deploy capital to take advantage of attractive new 1 and existing growth opportunities Establish future core recurring funds management income Drive sustainable long term growth in underlying Originate operating income Continue to co-invest with investors to ensure 2 and enh
Slide 12: Healthcare
Healthcare Portfolio acquisition and equity raising $52.0 million of new equity raised and announcement of: – Acquisition of a $45.8 million portfolio of three high quality residential aged care properties from RSL Care – Collaboration agreement with RSL Care to source and secure further residenti
Slide 13: Industria
Industria Investment rationale Attractive value proposition Further increase alignment with investors through additional co-investment1 Key metrics Market Capitalisation1 $256 million Industria REIT Dec 2014 results highlights Total Funds Under Management $406 million Half year distribution of
Slide 14: Equity Raising
EQUITY RAISING APN | Property Group
Slide 15: Offer Overview
Offer Overview $30.0 million equity raising comprising a placement and entitlement offer Offer Overview Fully underwritten by Macquarie Capital and Petra Capital Placement to raise $13.6 million offered to new and existing institutional investors Placement Shares issued under the Placement w
Slide 16: Sources and uses of funds
Sources and uses of funds The proceeds will be applied to: Support and participate in the growth of Generation Healthcare REIT Increase Industria REIT co-investment stake, creating further investor alignment Provide balance sheet flexibility and capacity to accelerate funds management platform
Slide 17: Equity raising indicative timetable
Equity raising indicative timetable1 Event Date Announcement of Capital Raising 28 April 2015 Institutional Offer and Placement opens 28 April 2015 Institutional Offer and Placement closes 28 April 2015 Record date for Entitlement Offer (7.00pm AEST) 1 May 2015 Despatch of offer booklet and entitlem
Slide 18: Financial information – Pro-forma balance sheet
Financial information – Pro-forma balance sheet Adjustments Actual Pro-forma ($000) 31 Dec 2014 Trading1 Equity raise Post Offer Cash 20,012 (14,739) 9,002 14,275 Co-Investments 48,555 6,245 14,678 69,478 Other Assets 13,979 (2,794) 396 11,581 Intangible Assets 4,073 - - 4,073 Total Assets 86,619 (1
Slide 19: Conclusion
Conclusion This equity raising provides an attractive opportunity for investors to participate in the growth of APN’s listed and unlisted managed funds business The capital raising will: – Support and participate in the value adding growth of Generation Healthcare REIT – Increase Industria REIT
Slide 20: Key Risks
KEY RISKS APN | Property Group 20
Slide 21: Key Risks
Key Risks Outline This section summarises some of the key risks that may affect the future performance of an investment in APN. This is not an exhaustive list of the relevant risks. If any of the following risks materialise APN’s business, financial condition and operational results are likely to
Slide 22: Key Risks
Key Risks Industry specific risks □ Property sector performance: APN is subject to the prevailing property market conditions in the sectors in which each of the funds under the control of APN operates. A deterioration in investment market conditions in the property sector due to a sustained downtu
Slide 23: Key Risks
Key Risks Specific Risks for APN Funds Management: APN manages a number of funds on behalf of third party investors. The majority of APN’s income is derived as fees calculated with reference to the value of funds under the control of APN FM. APN’s financial performance may be adversely affected if
Slide 24: Key Risks
Key Risks Specific Risks for APN (continued) Property related risks: An investment in APN is essentially a leveraged investment in real estate and therefore may be adversely affected by changes to the underlying property within its managed fund portfolio, including: tenancy default or failure or d
Slide 25: Appendix
APPENDIX APN | Property Group
Slide 26: International Selling Restrictions
International Selling Restrictions This Presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in any place in which, or to any person to whom, it would not be lawful to make such an offer. Hong Kong WARNING: This document has not been, and will not
Slide 27: Contact details
Contact details Chris Aylward Tim Slattery Michael Groth Executive Chairman Executive Director Chief Financial Officer Ph: (03) 8656 1000 Ph: (03) 8656 1000 Ph: (03) 8656 1000 chris.aylward@apngroup.com.au tim.slattery@apngroup.com.au mgroth@apngroup.com.au APN Property Group Limited Level 30,
APN Property Group — Investor Presentation (April 2015) on 6ix