Stride Property Group · NZX:SPG
Stride Property — Shareholder Meeting (2020)
29 slides from Stride Property's shareholder meeting presentation, 2020
Slide 1: Stride Property Group Annual Shareholder Meetings 2020
Stride Property Group Annual Shareholder Meetings 2020
Slide 2: Question Process
Question Process • When the Question function is available, the Q&A icon will appear at the top of the app. • To send in a question, simply click in the ‘Ask a question’ box, type your question and press the send arrow • Your question will be sent immediately for review Stride Property Group I Annua
Slide 3: Voting Process
Voting Process • When the poll is open, the vote will be accessible by selecting the voting icon at the top of the screen • To vote simply select the direction in which you would like to cast your vote, the selected option will change colour • There is no submit or send button, your selection is aut
Slide 4: Board and Management
Board and Management Board Refresh – Stride • Nick Jacobson appointed to the Stride Boards in July 2019, bringing considerable property and capital markets experience, which will benefit Stride as it grows its funds management business • David van Schaardenburg retired on 29 August 2019 after 9 year
Slide 5: Agenda
Agenda • Chair’s address • Chief Executive Officer’s presentation • Consideration of Annual Report and financial statements for FY20 • Resolution for Stride Property Limited • Resolutions for Stride Investment Management Limited • General business and final questions Stride Property Group I Annual R
Slide 6: Chair's Address
Chair’s Address Transformative • Establishment of Industre, Stride’s Product focussed on industrial property Transactions • Sale of large format retail properties to Investore, Stride’s Product focussed on the large format retail sector Strong Balance • SPL’s Loan to Value Ratio 17.8% as at 31 March
Slide 7: Performance – FY20
Performance – FY20 Net rental income Profit after income tax Distributable profit after current income tax $59.1m $25.3m $37.7m Pro forma Loan to Combined Stride FY20 cash Value Ratio 31 Mar 20 dividend Portfolio Valuation NTA per share 17.8% 9.91 cps $996.1m $1.91 Stride Property Group I Annual Sha
Slide 8: Places
Places Key Transactions Sale of three large Establishment of Industre format retail properties to Acquisition of two industrial Investore properties – The Concourse / Selwood Road, Auckland, and Wickham Street, Hamilton Developments Waste Management Auckland Headquarters development completed Led to
Slide 9: People
People Board Refresh – New Director Nick Jacobson Appointed Significant transactions completed while Stride people worked from home, including $286m bank financing across all Stride Products and $105m capital raising for Investore Stride Property Group I Annual Shareholder Meetings 2020 9
Slide 10: Chief Executive's Address
Chief Executive’s Address ” \ es 4
Slide 11: Products
Products Transactions completed to further targeted growth • As a result of COVID-19, portfolio valuation strategy declined by $70.5m or 14.5% on a gross basis for FY20 • Successful acquisition of $148m of properties, including acquisition of • The $110m redevelopment at Queensgate Countdown New Bri
Slide 12: New Product - Industre
New Product - • Industre commenced on 1 July 2020, and is Stride’s industrial property focussed Product • Industre is a joint venture with a group of international institutional investors, through a special purpose vehicle and advised by J.P. Morgan Asset Management (together, JPMAM) • On commenceme
Slide 13: Growth of Assets Under Management
Growth of Assets Under Management Stride AUM as at 31 March 2020 Stride AUM as at 31 March 2020 post transactions $996m $895m $376m $761m $132m $496m $488m $472m $414m $82m $74m $302m $302m $414m $398m $186m $186m Office Retail Shopping Centres Large Format Retail Office Retail Shopping Centres Larg
Slide 14: SPL Portfolio Metrics
SPL Portfolio Metrics When SPL’s directly-held investment properties are combined with SPL’s look-through holdings in the Stride Products, including its approximate 68.3% holding in Industre, its 18.8% holding in Investore (following Investore’s most recent capital raise) and its 2.0% holding in Div
Slide 15: Growth
Growth Stride’s pro forma AUM was $2.3bn as at 31 March 2020, with over $470m of available capital across Investore, Industre and SPL. If this capital was used, Stride’s AUM would grow to $2.83bn. All figures are as at 31 March 2020 on a pro forma basis, assuming post balance date transactions had c
Slide 16: COVID-19 Update
COVID-19 Update Balance Sheet As at 31 March 2020 on a pro forma basis (following the sale of properties to Investore and establishment of Industre), SPL had a Loan to Value Ratio of 17.8% and $218m of available debt facilities Diversified Stride is a diversified investment business, which derives i
Slide 17: Looking Forward
Looking Forward • Stride will continue to focus on establishing a group of commercial property Products to provide growth in our investment management business • Growth of Industre, Investore and Diversified are key focusses for the future • SPL’s low LVR means it is well positioned to consider acqu
Slide 18: Formal Business
Formal Business ff \ %
Slide 19: Voting Process
Voting Process • When the poll is open, the vote will be accessible by selecting the voting icon at the top of the screen • To vote simply select the direction in which you would like to cast your vote, the selected option will change colour • There is no submit or send button, your selection is aut
Slide 20: Stride Property Limited Resolution
Stride Property Limited Resolution
Slide 21: Resolution 1 – Auditor's Remuneration
Resolution 1 – Auditor’s Remuneration That the Directors be authorised to fix the remuneration of PricewaterhouseCoopers as auditor of Stride Property Limited for the ensuing year 5 Stride Property Group I Annual Shareholder Meetings 2020
Slide 22: SPL Proxy Votes Received
SPL Proxy Votes Received Resolution 1: Auditor’s Remuneration Proxy votes lodged For Against Discretionary 171,493,558 97.01% 0.07% 2.92% Stride Property Group I Annual Shareholder Meetings 2020 22
Slide 23: Stride Investment Management Limited Resolutions
Stride Investment Management Limited Resolutions
Slide 24: Resolution 1 – Auditor's Remuneration
Resolution 1 – Auditor’s Remuneration That the Directors be authorised to fix the remuneration of PricewaterhouseCoopers as auditor of Stride Investment Management Limited for the ensuing year 5 Stride Property Group I Annual Shareholder Meetings 2020
Slide 25: Resolution 2 – Re-election of Director Michelle Tierney
Resolution 2 – Re-election of Director Michelle Tierney That Michelle Tierney be re-elected as a Director of Stride Investment Management Limited Stride Property Group I Annual Shareholder Meetings 2020 25
Slide 26: Resolution 3 – Re-election of Director Philip Ling
Resolution 3 – Re-election of Director Philip Ling That Philip Ling be re- elected as a Director of Stride Investment Management Limited Stride Property Group I Annual Shareholder Meetings 2020 26
Slide 27: SIML Proxy Votes Received
SIML Proxy Votes Received Resolution 1: Auditor’s Remuneration Proxy votes lodged For Against Discretionary 171,538,227 96.97% 0.07% 2.95% Resolution 2: Re-election of Director Michelle Tierney Proxy votes lodged For Against Discretionary 171,533,014 97.05% 0.02% 2.93% Resolution 3: Re-election of D
Slide 28: General Business and Shareholder Questions
General Business and Shareholder Questions
Slide 29: Thank You
Thank You Important Notice: The information in this presentation is an overview and does not No representation or warranty, express or implied, is made as to the accuracy, contain all information necessary to make an investment decision. It is intended to adequacy or reliability of any statements, e