Gpt Group · ASX:GPT
Gpt — Shareholder Meeting (June 2005)
24 slides from Gpt's shareholder meeting presentation, Jun 2, 2005
Slide 1: Meeting of Unitholders
Slide | ort _ Meeting of Unitholders 2 June 2005
Slide 2: Donna Byrne, Investor Relations and Communications Manager
Slide 2 Donna Byrne Investor Relations and Communications Manager GPT
Slide 3: GPT
Slide 3 GPT
Slide 4: Donna Byrne, Investor Relations and Communications Manager
Slide 4 Donna Byrne Investor Relations and Communications Manager GPT
Slide 5: Peter Joseph, Chairman, GPT Board
Slide 5 Peter Joseph Chairman, GPT Board GPT
Slide 6: Creating Independence and Growth
Slide 6 Creating Independence and Growth GPT
Slide 7: GPT Unitholders
Slide 7 GPT Unitholders « Independent GPT * Measured growth * Traditional low-risk investments * Certainty and stability GPT
Slide 8: Peter Joseph, Chairman, GPT Board
Slide 8 Peter Joseph Chairman, GPT Board GPT
Slide 9: Independence and Growth
Slide 9 Independence and Growth * Three key initiatives ~ Internalising the management of GPT ~ Joint Venture with Babcock and Brown ~ Sale of part interests in three retail assets to Westfield * Whole ‘package’ necessary for a stable internalisation GPT
Slide 10: Internalisation — alone
Slide 10 ‘Internalisation — alone’ * Inferior value to GPT unitholders Lower uplift in distributions and unit value + Risks continued instability and uncertainty . NOT in the best interests of GPT unitholders GPT
Slide 11: Babcock & Brown Joint Venture
Slide 11 Babcock & Brown Joint Venture * ‘Growth engine’ for GPT * Significant increase in earnings and distributions + Lower end of risk spectrum for LPTs + GPT and B&B aligned on low-risk approach GPT
Slide 12: Asset sales to Westfield
Slide 12 Asset sales to Westfield . Followed discussions with all parties Needed for ‘alternative’ to Stockland Asset sales ~ Above independent valuations - Top of Australian property cycle ~ Capital reinvested for higher return . . Creates VALUE for internalisation GPT
Slide 13: Peter Joseph, Chairman, GPT Board
Slide 13 Peter Joseph Chairman, GPT Board GPT
Slide 14: Nic Lyons, Chief Executive Officer
Slide 14 Nic Lyons Chief Executive Officer GPT
Slide 15: New GPT ~ Value and Stability
Slide 15 New GPT ~ Value and Stability + GPT will remain — High quality diversified property — Australian assets valued at $8.2 billion — 85%, core Australian property unchanged + JV limited to 15% of total assets — Retail portfolio $4 billion — second largest in Australia GPT
Slide 16: GPT's Joint Venture
Slide 16 GPT’s Joint Venture + Limited exposure to offshore property — Larger, less-mature markets — Greater diversity ~ Higher risk-adjusted returns * New growth activities ~ Active management ~ Asset trading ¢ Focus on risk mitigation GPT
Slide 17: New GPT — more Value
Slide 17 New GPT — more Value * $8.2 billion core portfolio $900 million in Joint Venture 16.5% increase in forecast earnings 2006 — 27.8 cpu 2006 ~ Lower MER ~ $20 million savings * Increase GPT Value by $880 million (est) Trading value $3.61 to $3.81 (independent Expert) GPT *
Slide 18: Nic Lyons, Chief Executive Officer
Slide 18 Nic Lyons Chief Executive Officer GPT
Slide 19: GPT People
Slide 19 GPT People + Management and investor interests aligned + Strong values, inclusive culture + Team to deliver investment performance * Qualified, experienced property professionals * Stability and Certainty GPT
Slide 20: Peter Joseph, Chairman, GPT Board
Slide 20 Peter Joseph Chairman, GPT Board GPT
Slide 21: Elizabeth Johnstone, Partner, Blake Dawson Waldron
Slide 21 Elizabeth Johnstone Partner Blake Dawson Waldron GPT
Slide 22: Blake Dawson Waldron
Slide 22 Blake Dawson Waldron * Independent Directors have — Implemented a rigorous evaluation process ~ Exercised care and diligence in considering competing proposals, options — Acted according to corporate governance principles —Ensured ethical and responsible decision- making, balanced disclosur
Slide 23: Peter Joseph, Chairman, GPT Board
Slide 23 Peter Joseph Chairman, GPT Board GPT
Slide 24: Questions
Slide 24 Questions GPT