Precinct Properties NZ Ltd & Precinct Properties Investments Ltd · NZX:PCT
Precinct Properties NZ Ltd & Precinct Properties Investments — ANZ National Office Trust (ANZO) — Shareholder Meeting (November 2011)
31 slides from Precinct Properties NZ Ltd & Precinct Properties Investments's shareholder meeting presentation, Nov 4, 2011
Slide 1: Welcome to the ANZO Annual General Meeting
Welcome to the ANZO Annual General Meeting 4 November 2011
Slide 2: Board and Executive Team
Board and Executive Team George Crawford, Chief Financial Officer Robert Walker, Alternate Director Mohamed Al Qubaisi, Director Anthony Beverley, Director Mark Verbiest, Director Graeme Horsley, Independent Director Graeme Wong, Independent Director Don Huse, Independent Director
Slide 3: Craig Stobo, Chairman
Craig Stobo Chairman
Slide 4: Significant Change
Significant Change ANZO ‘Corporatised’ New board of directors New management agreement New fee structure New executive team
Slide 5: $61.1m Distributable profit, 6.13 cents per share
$61.1m Distributable profit 6.13 Cents per share
Slide 6: Strong result and share price outperformance
“This strong result coupled with resilience in market rents and a refreshed approach to serving ANZO’s client base saw ANZO’s share price outperform its peers during the period.”
Slide 7: 28.9% total compound return, $1.25bn portfolio value
28.9% 12 month total compound return $1.25bn 88.5 Portfolio value Net tangible assets cents per share
Slide 8: Capital Management
Capital Management $400 million debt facility Increase debt expiry out to 3.3 years Strong capital management position Gearing of 21% post sale of Chews Lane
Slide 9: Capital Management
Capital Management New Financial Risk Management Policy New Dividend Policy Payout 90% of distributable income
Slide 10: Revised dividend policy quote
“The revised dividend policy appropriately balances investors’ desire for high yield with a prudent and sustainable dividend policy.”
Slide 11: 2012 earnings guidance
5.1 – 5.4 Cents per share 2012 earnings guidance 1.26 Cents per share Paid on 24 November 2011
Slide 12: Scott Pritchard, Chief Executive Officer
Scott Pritchard Chief Executive Officer
Slide 13: Portfolio Performance
Portfolio Performance Very active leasing period 94% occupancy WALT of 5.8 years up from 4.5 years Key client ANZ retained
Slide 14: Portfolio Activity
Portfolio Activity Leasing transactions of 65,000 sqm 50 new leases PwC secured for a further 9 years Resilience in market rents
Slide 15: Zurich House
Zurich House • Significant leasing success • Occupancy 82% • WALT 7.1 years
Slide 16: ANZ Centre
ANZ Centre • 15 year lease • $76 million refurbishment • Fletchers Construction awarded contract • 2013 completion
Slide 17: Slide 17
Slide 18: Slide 18
Slide 19: Auckland City
Auckland City • Improving occupier market • City Centre Masterplan • Visionary document
Slide 20: North-South Stitch
North-South Stitch Uniting the waterfront with the city centre
Slide 21: Engine Room
The Engine XXXXX Room Engine room
Slide 22: Impact of Earthquakes
Impact of Earthquakes Building structural integrity key occupier focus Quality of portfolio Insurance impact limited Demand for quality space to remain
Slide 23: Market Outlook
Market Outlook Auckland CBD market has improved markedly Potential of a two tiered market in Wellington Key challenge - Property management in-sourcing
Slide 24: Craig Stobo, Chairman
Craig Stobo Chairman
Slide 25: Questions and Answers
Questions and Answers AMP NZ OFFICE
Slide 26: Formal Business
Formal Business AMP NZ OFFICE
Slide 27: Resolution 1 & 2
Resolution 1 & 2 Craig Stobo, Independent Director and Chairman First appointed: 4 May 2010 Board committees: Chair of the nominations committee and member of the audit and risk, the due diligence and the remuneration committees. Graeme Horsley, Independent Director First appointed: 4 May 2010 Board
Slide 28: Resolutions 1 and 2: Director re-election
Resolution 1. That Craig Stobo be re-elected as a director of ANZO. 2. That Graeme Horsley be re-elected as a director of ANZO.
Slide 29: Resolution 3: Auditor remuneration
Resolution 3. That the directors be authorised to fix the remuneration of Ernst & Young as auditor for the ensuing year.
Slide 30: Craig Stobo, Chairman
Craig Stobo Chairman
Slide 31: Thank you
Please join us for refreshments Thank you
ANZ National Office Trust (ANZO) — Shareholder Meeting (November 2011) on 6ix