Precinct Properties Nz Ltd & Precinct Properties Investments Ltd · NZX:PCT
Precinct Properties Nz Ltd & Precinct Properties Investments — Precinct Properties New Zealand — Shareholder Meeting (November 2015)
23 slides from Precinct Properties Nz Ltd & Precinct Properties Investments's shareholder meeting presentation, Nov 18, 2015
Slide 1: Precinct Properties New Zealand Annual General Meeting
Precinct Properties New Zealand Annual General Meeting 18 November 2015
Slide 2: Welcome
Welcome and good morning Craig Stobo, Chairman
Slide 3: Board and Executive
BOARD AND EXECUTIVE Management Scott Pritchard George Crawford Chief Executive Officer Chief Operating Officer Davida Dunphy General Counsel and Company Secretary Board Don Huse Rob Campbell Independent Director Director Graeme Wong Mohammed Al Nuaimi Independent Director Director Graeme Horsley Chr
Slide 4: Positive Results
POSITIVE RESULTS $122.4m Net operating income net profit after tax $68.3m $64.8m net operating income after tax revaluation gain $1.11 +7.1% net tangible assets increase in net operating per share income after tax
Slide 5: Capital Management
CAPITAL MANAGEMENT Reduction of Gearing: 33.8% to 11.3% Capital Management initiatives: - United States Private Placement - New Zealand Bond Issue - Entitlement offer which raised $174 million - Asset sales
Slide 6: Board Focus: Executing on Strategy
BOARD BOARD BOARDFOCUS FOCUS EXECUTING FOCUS ON STRATEGY We have followed a strategy for transforming the company and growing value, while continuing close management of risk and reward
Slide 7: FY16 Dividend
FY16 DIVIDEND 5.40 cents per share FY16 dividend guidance 1.35 cents per share FY16 1st quarter dividend 10 December 2015 FY16 1st quarter dividend payment date
Slide 8: Driving Value
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Slide 9: Key Metrics
KEY METRICS 98% 5.0years 25,600m2 portfolio occupancy weighted average total leasing transactions lease term (excluding downtown shopping centre) HISTORICAL PERFORMANCE
Slide 10: An Evolving Portfolio
AN EVOLVING PORTFOLIO Auckland portfolio fully occupied Auckland’s strong population growth Auckland CBD market strong Waterfront preference An estimated 200,000m2 of new space will be needed to meet demand
Slide 11: Wynyard Quarter
WYNYARD QUARTER Net Lettable Area (NLA) 13,400sqm Expected valuation on completion $98.2m Total project cost $83.6m Yield on cost 8.0% Construction Commencement End 2015 Grid AKL lease term 12 years Practical completion July 2017 NLA Pre-commit % 70%
Slide 12: Wynyard Quarter Next Steps
WYNYARD QUARTER NEXT STEPS
Slide 13: Downtown Update
DOWNTOWN UPDATE
Slide 14: Downtown Next Steps
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Slide 15: Bowen Campus
BOWEN CAMPUS One hectare of land adjacent to beehive Received Cabinet approval for the Crown to enter the final phase of the Governments Wellington Accommodation Project Pastoral House, Mayfair House, and 3 The Terrace have also been approved 1 The Terrace still remains under consideration requireme
Slide 16: Outlook
OUTLOOK -Strong position to grow -Strong financial position -Strong occupier market -Strong CBD retail market
Slide 17: Questions and Answers
QUESTIONS AND ANSWERS Please state your name and advise whether you are a shareholder
Slide 18: Formal Business
FORMAL BUSINESS
Slide 19: Resolution 1 & 2
Resolution 1 & 2 Craig Stobo, Independent Director and Chairman First appointed: 4 May 2010 Board committees: Chairman of the nominations committee and member of the audit and risk, the due diligence and the remuneration committees. Launa Inman, Independent Director First appointed: 28 Oct 2015 Boar
Slide 20: Resolutions: Re-election and election of directors
Resolutions Resolution 1 That Craig Stobo be re-elected as a director of Precinct. Resolution 2 That Launa Inman be elected as a director of Precinct.
Slide 21: Resolutions: Director fee pool increase
Resolutions Resolution 3 That, with effect from 1 November 2015 (being the anniversary of the company’s corporatisation) the aggregate Director’s fee pool (being a monetary sum per annum payable to all directors) for the company, pursuant to listing rule 3.5.1(a) be increased from $450,000 to $580,0
Slide 22: Resolutions: Auditor remuneration
Resolutions Resolution 4 That the directors be authorised to fix the remuneration of Ernst & Young as auditor for the ensuing year.
Slide 23: Thank you
Thank you PLEASE JOIN US FOR REFRESHMENTS DIRECTLY OUTSIDE THIS ROOM.
Precinct Properties New Zealand — Shareholder Meeting (November 2015) on 6ix