Apa Group · ASX:APA
Apa — Shareholder Meeting (October 2007)
39 slides from Apa's shareholder meeting presentation, Oct 30, 2007
Slide 1: Annual Meeting
Annual Meeting For personal use only City Recital Hall, Angel Place, Sydney, 30 October 2007
Slide 2: Please switch off mobile phones
For personal use only Please switch off mobile phones for the duration of the meeting APA Group Annual Meeting 2007 Æ 2
Slide 3: Registration and Voting
Registration and Voting For personal use only A person entitled to vote - a yellow card A non-voting member - a red card A visitor - a blue card APA Group Annual Meeting 2007 Æ 3
Slide 4: Motion
Motion For personal use only “That the Notice of Meeting is taken as being Read” APA Group Annual Meeting 2007 Æ 4
Slide 5: Order of Meeting
Order of Meeting For personal use only Overview Chairman Review of Operations Managing Director Re-election of Directors Mr Robert Wright Address by Chairman-elect Mr Len Bleasel AM Questions from the floor Close of meeting APA Group Annual Meeting 2007 Æ 5
Slide 6: Directors
Directors For personal use only George Bennett Leonard Bleasel Mick McCormack Robert Wright Ross Gersbach Russell Higgins Muri Muhammad George Ratilal APA Group Annual Meeting 2007 Æ 6
Slide 7: Executive Management
Executive Management For personal use only Stephen Ohl Rick Francis Peter Fox Chief Operating Officer Chief Financial Officer General Manager, Commercial Development Sandra Dureau Robyn Smith Austin James General Counsel/ General Manager, Human Company Secretary/ General Manager, Regulatory Resource
Slide 8: Attending
Attending For personal use only Ms Samantha Lewis - Deloitte Touche Tohmatsu Mr Mark Pistilli – Chang, Pistilli & Simmons Representatives from our Registry - Link Market Services Limited APA Group Annual Meeting 2007 Æ 8
Slide 9: Chairman's Address
For personal use only Chairman’s Address Mr George Bennett APA Group Annual Meeting 2007 Æ 9
Slide 10: Overview of Financial Performance
Overview of Financial Performance For personal use only $ million FY07 FY06 % Change Revenue* 532.7 379.0 40.5 EBITDA* 296.8 200.4 48.1 NPAT – recurring* 64.5 60.7 6.4 Non-recurring / significant items (7.8) 1.9 n/a Reported NPAT 56.8 62.6 (9.3) Underlying OCF 157.0 112.2 39.9 Underlying OCF per sec
Slide 11: Capital Management
Capital Management For personal use only Substantial Investor Support Implemented stapled structure (APTIT) During FY 2007 we successfully raised $610m of equity – Institutional placement ($190m) – Security purchase plan ($40m) – Renounceable rights issue ($356m) – Continued operation of DRP ($24m)
Slide 12: Total Assets
Total Assets For personal use only $bn 5 4.23 4 4 3 3 2.06 2 1.88 1.42 1.43 2 1 1 0 June 03 June 04 June 05 June 06 June 07 APA Group Annual Meeting 2007 Æ 12
Slide 13: Alinta
Alinta For personal use only Alinta agreed in April 2006 to acquire AGL’s 30% holding in APA Alinta/AGL merger agreement Alinta acquired further 10.25% of APA in August 2006 – Intended to acquire 19.9% No general offer to all APA securityholders Takeovers Panel and Full Court of Federal Cour
Slide 14: Security Purchase Plan
Security Purchase Plan For personal use only Opportunity to purchase up to $5,000 of APA Group stapled securities – 2.5% discount – No brokerage or transaction costs – Price set based on 5 day volume weighted average price traded during the 5 trading days up to, and including the last day of the o
Slide 15: APA Group since 2000
APA Group since 2000 For personal use only Leading energy transmission and distribution business – Owns and operates its assets Developed a complementary asset portfolio – Gas storage, electricity cables, coal seam gas facilities, gas-fired power stations Asset base tripled from $1.4bn to $4.2
Slide 16: Managing Director's Review of Operations
For personal use only Managing Director’s Review of Operations Mr Mick McCormack APA Group Annual Meeting 2007 Æ 16
Slide 17: Agenda
Agenda For personal use only Overview of acquisitions Environment Regulation Outlook APA Group Annual Meeting 2007 Æ 17
Slide 18: Acquisitions in FY07
Acquisitions in FY07 For personal use only Allgas Energy GasNet Australia Group Directlink Origin Energy Networks − Origin Energy Asset Management − 17.2% of Envestra − 33.3% of SEAGas Pipeline APA Group Annual Meeting 2007 Æ 18
Slide 19: Acquisitions in FY07
Acquisitions in FY07 For personal use only APT Allgas APT GasNet Directlink APT AM SEAGas Pipeline APA Group Annual Meeting 2007 Æ 19
Slide 20: National Energy Footprint
National Energy Footprint For personal use only APA Group Presentation Æ 46 APA Group Annual Meeting 2007 Æ 20
Slide 21: Environment
Environment For personal use only Gas is “fuel of transition” to a cleaner energy burning future NSW Government’s Owen Inquiry − Additional investment in baseload electricity generation from 2013-14 − Implementation of transitional arrangements for NSW greenhouse schemes towards a national carbon tr
Slide 22: Regulation
Regulation For personal use only APA wins appeal in the High Court − Clarity regarding regulatory discretion Need for regulatory incentives to encourage investment − Lighter handed regulation for some pipelines − Disappointing draft decision in Victoria − Rights of review preserved APA continuing to
Slide 23: Thank you to outgoing Chairman
For personal use only Thank you to outgoing Chairman Mr George Bennett Non- executive Director, Mr Robert Wright APA Group Annual Meeting 2007 Æ 23
Slide 24: Formal Business
Formal Business For personal use only Agenda Items 1 to 4: To consider for approval: – Nomination, Russell Higgins AO to be elected as a Director of Australian Pipeline Limited; – Nomination, Leonard (Len) Bleasel AM to be elected as a Director of Australian Pipeline Limited; – Nomination, Ross Gers
Slide 25: Nomination of Russell Higgins AO
Item 1 For personal use only Nomination of Russell Higgins AO “Securityholders are asked to consider and, if thought fit, approve the nomination of Russell Higgins to be elected as a Director on the Board of Australian Pipeline Limited." APA Group Annual Meeting 2007 Æ 25
Slide 26: Nomination of Leonard (Len) Bleasel AM
Item 2 For personal use only Nomination of Leonard (Len) Bleasel AM “Securityholders are asked to consider and, if thought fit, approve the nomination of Len Bleasel to be elected as a Director on the Board of Australian Pipeline Limited." APA Group Annual Meeting 2007 Æ 26
Slide 27: Nomination of Ross Gersbach
Item 3 For personal use only Nomination of Ross Gersbach “Securityholders are asked to consider and, if thought fit, approve the nomination of Ross Gersbach to be elected as a Director on the Board of Australian Pipeline Limited." APA Group Annual Meeting 2007 Æ 27
Slide 28: Nomination of Manharlal (George) Ratilal
Item 4 For personal use only Nomination of Manharlal (George) Ratilal “Securityholders are asked to consider and, if thought fit, approve the nomination of George Ratilal to be elected as a Director on the Board of Australian Pipeline Limited." APA Group Annual Meeting 2007 Æ 28
Slide 29: Discussion of Nomination for Re-election of Directors
For personal use only Discussion of Nomination for Re-election of Directors Please confine comments to these motions State your name Ask only one question at a time APA Group Annual Meeting 2007 Æ 29
Slide 30: Results of Proxy Votes – Russell Higgins
Item 1 For personal use only Results of Proxy Votes – Russell Higgins Resolution For Open Against Abstain 1 144,821,285 10,084,934 461,329 304,944 APA Group Annual Meeting 2007 Æ 30
Slide 31: Results of Proxy Votes – Len Bleasel
Item 2 For personal use only Results of Proxy Votes – Len Bleasel Resolution For Open Against Abstain 2 144,695,880 10,114,484 440,951 421,495 APA Group Annual Meeting 2007 Æ 31
Slide 32: Results of Proxy Votes – Ross Gersbach
Item 3 For personal use only Results of Proxy Votes – Ross Gersbach Resolution For Open Against Abstain 3 143,753,593 10,349,653 1,297,272 271,764 APA Group Annual Meeting 2007 Æ 32
Slide 33: Results of Proxy Votes – George Ratilal
Item 4 For personal use only Results of Proxy Votes – George Ratilal Resolution For Open Against Abstain 4 128,764,885 10,378,497 12,204,150 4,324,750 APA Group Annual Meeting 2007 Æ 33
Slide 34: Nomination for Re-election of Directors
For personal use only Nomination for Re-election of Directors Vote to be conducted by a show of hands APA Group Annual Meeting 2007 Æ 34
Slide 35: Address by Chairman-elect Mr Len Bleasel AM
For personal use only Address by Chairman-elect Mr Len Bleasel AM APA Group Annual Meeting 2007 Æ 35
Slide 36: Address
Address For personal use only Recent history of the Gas Industry in Australia Strategy The role of Gas as the Fuel of Transition APA positioned to increase the contribution of Gas to the national energy mix APA Group Annual Meeting 2007 Æ 36
Slide 37: Strategy
Strategy For personal use only To continue to grow as Australia’s leading energy transmission and distribution business Development of an APA owned east Australian gas grid Three phase approach to growth − Organic − Brownfields and greenfields projects − Acquisition Increase distributions by at leas
Slide 38: We Deliver Energy
For personal use only We Deliver Energy www.pipelinetrust.com.au APA Group Annual Meeting 2007 Æ 38
Slide 39: Information About APA
Information About APA For personal use only Look at our website - www.pipelinetrust.com.au Look for presentation by our Managing Director posted to our website Contact our unit registry - Link Market Services APA Group Annual Meeting 2007 Æ 39