Fibra Inn · BIVA:FINN/13
Fibra Inn — Shareholder Meeting (October 2014)
17 slides from Fibra Inn's shareholder meeting presentation, Oct 17, 2014
Slide 1: Ordinary General Shareholders' Meeting
Ordinary General Shareholders’ Meeting October 17, 2014
Slide 2: Information for Shareholders in the United States
Legend Required by Rule 801(b) of the U.S. Securities Act of 1933 Information for This rights offering is made for the securities of a foreign company. The offer is subject to the disclosure requirements of a foreign country that are Shareholders in different from those of the United States. Financi
Slide 3: Agenda
Agenda I. Proposal, discussion and approval of a CBFI issuance, which will be offered exclusively to the Shareholders. II. Proposal, discussion and ratification or modification of remunerations for services provided by the Advisor, as stipulated in the Trust Advisory Service Agreement. III. Appointm
Slide 4: First Item on the Agenda
First Item on the Agenda I. Proposal, discussion and approval of a CBFI issuance, which will be offered exclusively to the Shareholders. General Ordinary Shareholders’ Meeting – October 17, 2014 4
Slide 5: Offered Exclusively to Current Holders: CBFI Issuance Term Sheet
Offered Exclusively to Current Holders I. CBFI to be Issued and Termsheet Issuer Trust F/1616 (FIBRA INN). Offering Type Issuance of CBFIs to be offered and acquired exclusively by current holders Amount Up to 258’334,218 CBFIs (same amount of CBFIs outstanding) Timing Up to 12 months First Round Ra
Slide 6: Offered Exclusively to Current Holders: Proposal
Offered Exclusively to Current Holders I. CBFI to be Issued and Proposal § To conduct a CBFI issuance of up to 258,334,218 CBFIs, that will be offered exclusively to current Holders through two rounds and within a 12-month timeframe § First Round: § Will last 15 calendar days § Each holder may a
Slide 7: Offered Exclusively to Current Holders: Advantages
Offered Exclusively to Current Holders I. CBFI to be Issued and Advantages Capital Increase üIncreased market cap will promote equity research coverage which will contribute to increased CBFI liquidity üFresh resources will finance both acquisitions and developments üCapital structure will be str
Slide 8: Second Item on the Agenda
Second Item on the Agenda II. Proposal, discussion and ratification or modification of remunerations for services provided by the Advisor, as stipulated in the Trust Advisory Service Agreement. General Ordinary Shareholders’ Meeting – October 17, 2014 8
Slide 9: Remuneration: Background
II. Modification of Advisor’s Remuneration Background • Some investors have indicated their disagreement regarding current fee structures of Mexican FIBRAs, especially acquisition fees • Among Mexican institutional investors there is also some disagreement on structures that include acquisition fees
Slide 10: Remuneration: Fee Structure Perception
II. Modification of Advisor’s Remuneration Fee Structure Perception • Focus that seeks asset growth • There has been no negative feedback from investors; however, international comparables tend to industry internalization Advisory • External advisor figure is common practice among Mexican FIBRAs Fee
Slide 11: Remuneration: Proposal
II. Modification of Advisor’s Remuneration Proposal This proposal has already been recommended by both Practices and Technical Committees of gross real estate assets value, 0.50% inflation adjusted Current Structure 3.00% of total acquisition value of gross real estate assets value, 0.75% inflation
Slide 12: Remuneration: Impact Analysis Key Assumptions
II. Modification of Advisor’s Remuneration Impact Analisys: Key Assumptions In order to measure the impact that the proposed fee structure will have on Fibra Inn’s revenues, future projections need to be made, and in order to do so, we need to make assumptions Capital Raising Ps. 4.0 bn per Rounds r
Slide 13: Remuneration: Impact Analysis Revenue Projection
II. Modification of Advisor’s Remuneration Impact Analysis: Revenue Projection Current Structure Proposed Structure Total Revenue Accum Acquisition Advisory Acquisition Advisory Current Proposed Current Proposed Fee Fee Fee Fee Difference Structure Structure Structure Structure (3.0%) (0.5%) (0.0%)
Slide 14: Remuneration: Advantages
II. Modification of Advisor’s Remuneration Advantages The proposed fee structure change… ü … answers investors’ concerns; ü … improves FINN’s perception; ü … facilitates conducting a capital increase; ü … will create demand from both local and international investors; ü … will stimulate equity
Slide 15: Third Item on the Agenda
Third Item on the Agenda III. Appointment of Special Delegates to carry out the resolutions made during the Meeting. General Ordinary Shareholders’ Meeting – October 17, 2014 15
Slide 16: Fourth Item on the Agenda
Fourth Item on the Agenda IV. Drafting, review and approval of the Meeting Minutes for the Ordinary Shareholders’ Meeting. General Ordinary Shareholders’ Meeting – October 17, 2014 16
Slide 17: Legal Disclaimer
Note on forward-looking statements This presentation contains forward-looking statements. These statements are not based on historical data and are based on current expectations of Management and its estimates relating to future economic conditions, industry conditions and expected financial results