Altus Holdings Limited · HKEX:8149
Altus — Saizen Real Estate Investment Trust — Shareholder Meeting (October 2016)
16 slides from Altus's shareholder meeting presentation, Oct 18, 2016
Slide 1: 2016 AGM Presentation
2016 AGM Presentation October 2016 www.saizenreit.com.sg
Slide 2: Disclaimer
Disclaimer • The value of units (the “Units”) in Saizen Real Estate Investment Trust (“Saizen REIT”) and the income derived from them, if any, may fall or rise. Units are not obligations of, deposits in, or guaranteed by, Japan Residential Assets Manager Limited as manager of Saizen REIT (the “Manag
Slide 3: Key Financial Information
Key Financial Information Number of Units in issue as at 17 October 2016 287,024,902 NAV attributable to Unitholders as at 30 June 2016 (1)(2) S$31.8 million NAV per Unit as at 30 June 2016 (2) S$0.1106 NAV attributable to Unitholders as at 30 September 2016 (3) S$9.5 million NAV per Unit as at 30 S
Slide 4: FY2016 Overview
FY2016 Overview Pre-Disposal property operations remained relatively stable Average occupancy rate of 91.3% (FY2015: 90.6%) and tenant turnover rate of 15.0% (FY2015: 17.0%) Income distribution of S$0.0283 per Unit for the six-months period ended 31 December 2015 was paid to Unitholders on 29
Slide 5: Timeline of Key Events
Timeline of Key Events Timeline Event Entered into a conditional agreement for the Disposal of entire portfolio of 31 Oct 2015 real estate assets 1 Mar 2016 Disposal approved at an extraordinary general meeting (“EGM”) 4 Mar 2016 Disposal completed and Saizen REIT became a cash trust 28 Mar 2016 Pay
Slide 6: Proposed Properties Acquisition and Reverse Takeover
Proposed acquisition of industrial properties in Australia (the “Properties Acquisition”) and the Reverse takeover of Saizen REIT by Sime Darby Property Singapore Limited ("SDPSL") (the “RTO”) 6
Slide 7: Important Note
Important Note All information in this document is qualified in its entirety by, and should be read in conjunction with, the full text of Saizen REIT’s announcement dated 10 October 2016 and titled “Implementation Agreement in connection with the Proposed Acquisition by Saizen REIT of Industrial Pro
Slide 8: Effects on Existing Unitholders
Effects on Existing Unitholders Unitholdings Existing Unitholders will retain their existing Units and continue to have an interest in Saizen REIT Existing Unitholders are expected to make up about 3.4% of the post-RTO unitholding structure A Unit consolidation is expected to take place in c
Slide 9: Rationale
Rationale Realise value of Saizen REIT as listing vehicle following Disposal Unitholders have received a substantial portion of the estimated liquidation value (S$1.056 per Unit in March 2016 and S$0.0750 per Unit in September 2016), and can expect to receive all of remaining liquidation value (
Slide 10: Key Terms
Key Terms Properties 20 industrial properties in Queensland and Northern Territory, Australia • land area of approximately 1 million sqm • strategically located in established industrial precincts and suburbs close to major cities and towns in key mining areas Purchase A$355.8 million (at valuation1
Slide 11: Key Terms: Master Lease
Key Terms Master • Hastings Deering Property Services Pty. Ltd. Lessee • Wholly-owned subsidiary of HDAL, one of the largest Caterpillar dealers in the world and a core business of Sime Darby Berhad Master • Weighted average lease expiry of 16.7 years1 Lease No. of Term of Lease Renewal option prope
Slide 12: Sponsor Group
Sponsor Group Sponsor Group’s Entity Role effective interest REIT Sponsor Sime Darby Berhad - Sponsor ROFR(1) Sime Darby Property Singapore Limited(2) 100% Controlling REIT Unitholder(3) Letter of support for master Sime Darby Industrial Holdings Sdn Bhd(4) 100% lease guarantor Sime Darby Eastern Li
Slide 13: Key Terms
Key Terms Indicative post-RTO • SDPSL or its nominee(s) : not less than 25.0% Unitholding structure • Existing Unitholders : approximately 3.4% • New investors : approximately 71.6% JRAM Sale • SDPSL will acquire 80.0% of shares of the Manager, with an option to acquire the remaining 20.0% • Replace
Slide 14: Indicative Timeline
Indicative Timeline (1) Timeline Event 10 Oct 2016 Entry into Implementation Agreement Oct – Dec 2016 Complete due diligence and obtain regulatory approvals By early Dec 2016 Issuance of Circular to Unitholders EGM to seek Unitholders’ approval of resolutions relating to the By 31 Dec 2016 Propertie
Slide 15: Cautionary notice
Cautionary notice Information on forecast distribution yields are not available in this document and will be provided in the Circular to be issued to Unitholders. In the absence of such information, Unitholders and potential investors are advised to exercise caution in the trading of their Units.
Slide 16: Thank You
SaizenREIT ) Thank You
Saizen Real Estate Investment Trust — Shareholder Meeting (October 2016) on 6ix