Enbd Reit (ceic) Plc · NASDAQDUBAI:ENBDREIT
Enbd Reit (ceic) — Shareholder Meeting (November 2018)
19 slides from Enbd Reit (ceic)'s shareholder meeting presentation, Nov 27, 2018
Slide 1: ENBD REIT
ENBD Managed by Emirates NBD Asset Management
Slide 2: ENBD REIT General Meeting
ENBD REIT General Meeting 27th November 2018 www.enbdreit.com
Slide 3: Presenting team
Presenting team Tariq Bin Hendi Anthony Taylor Asif Siddique Chairman Head of Real Estate Chief Financial Officer ENBD REIT ENBD REIT ENBD REIT www.enbdreit.com ENBD REIT General Meeting 27th November 2018 3
Slide 4: Snapshot
Snapshot As at 30th September 2018 Offices: 63% Al Thuraya 1 Binghatti Terraces Uninest Portfolio property value Properties Residential: 19% USD 459m 11 Alternative: 18% Burj Daman Arabian Oryx House South View School WAULT 3.75 years Occupancy LTV* Gross yield^ Office: 2.18 years 90% Residential: 0
Slide 5: Capital structure
Capital structure Post 30th September 2018 250 New finance facility signed with Standard Chartered 200 37 • USD 75m plus additional USD 25m accordion option 6% undrawn 13 • USD 45m to repay ENBD AWAI facility 150 • USD 30m balance for acquisitions (earmarked for Souq Fully 43 USD m Extra Phase 2) dr
Slide 6: Financial highlights
Financial highlights H1 2018/2019 • Net rental income / FFO up 42% on H1 2017/2018 • Gross income up 28% due to acquisitions and high occupancies • Cash return on NAV improving • Unrealised valuation losses impacting net income www.enbdreit.com ENBD REIT General Meeting 27th November 2018 6
Slide 7: Financial performance
Financial performance H1 2018/2019 25,000,000 20,000,000 18,990,756 14,830,073 15,000,000 10,000,000 Sep-18 6,957,203 7,571,018 USD Sep-17 4,891,977 5,000,000 2,679,041 0 (5,000,000) (3,461,350) (10,000,000) (9,938,096) (10,418,553) (12,033,554) (15,000,000) Gross income Expenses Net rental income /
Slide 8: Proposed share capital reduction
Proposed share capital reduction As at 30th September As at 30th September Post dividend payment Pre share capital reduction Post share capital reduction Total assets USD 479m Total assets USD 479m Total assets USD 479m Total liabilities USD 194m Total liabilities USD 194m Total liabilities USD 201m
Slide 9: Payments to shareholders
Payments to shareholders Payments made to % of NAV % of share price shareholders relating to USD USD per share USD 1.12 USD 0.75 FY ending 31st March 2019 Proposed interim 6,868,836 0.0270 2.41% 3.60% dividend* Payments made to % of NAV % of share price shareholders relating to USD USD 1.18 USD 0.99
Slide 10: Portfolio
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Slide 11: ENBD REIT's Portfolio has remained strong
ENBD REIT’s Portfolio has remained strong Office valuations Residential valuations 100 +1% 45 80 +1% -13% Flat 35 USD m USD m 60 -13% 40 25 -17% Flat 20 -4% 15 31/3/17 30/6/17 30/9/17 31/12/17 31/3/18 30/6/18 30/9/18 31/3/17 30/6/17 30/9/17 31/12/17 31/3/18 30/6/18 30/9/18 Al Thuraya 1 Burj Daman DH
Slide 12: ENBD REIT
BBE ENBD REIT Managed by Emirates NBD Asset Management
Slide 13: Resolutions
ual ENBD REIT Managed by Emirates NBD Asset Management “JN Resolutions
Slide 14: Special resolution
Special resolution THAT: a) the issued share capital of the Company be reduced from USD 288,042,128 to USD 203,521,072 by cancelling and extinguishing capital to the extent of USD 84,521,056, being USD 0.3322 on each issued fully paid up share of no par value in the Company (the “Reduction of Capita
Slide 15: Ordinary resolution
Ordinary resolution To appoint Khalid Abdulkareem Ismaeil Ali Alfaheem, a United Arab Emirates national holder of passport no. J62786048, as a new director of the Company. www.enbdreit.com ENBD REIT General Meeting 27th November 2018 15
Slide 16: Ordinary resolution
Ordinary resolution To re-appoint KPMG as the auditor of the Company to hold office until the conclusion of the next annual general meeting of the Company. www.enbdreit.com ENBD REIT General Meeting 27th November 2018 16
Slide 17: Contact us
Contact us General Enquiries ENBDREITIR@emiratesnbd.com +971 (0)4 509 3010 Investor Relations Julia Ward-Osseiran juliao@emiratesnbd.com +971 (0)4 509 3016 Company Secretary Jean Kenny Labutte jeank@apexfunddubai.ae +971 (0)4 428 9221 Tenants/Leasing Melanie Fernandes fernandesmm@emiratesnbd.com +97
Slide 18: Disclaimer
Disclaimer The information, estimates and opinions (“Information”) expressed herein are made in good faith and are based on sources believed to be reliable, but no representation or warranty, express or implied, is made as to the accuracy, completeness or correctness of the Information. The Informat
Slide 19: Thank you
Thank you www.enbdreit.com
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