Stride Property Group · NZX:SPG
Stride Property — Shareholder Meeting (June 2016)
24 slides from Stride Property's shareholder meeting presentation, June 2016
Slide 1: Variation Proposal and Restructuring Presentation
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Variation Proposal and Restructuring Presentation June 2016 Stride Property Limited — Annual Results Presentation for the year ended 31 March 2016 – 26 May 2016
Slide 2: Disclaimer
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Disclaimer Important Notice: This presentation has been prespared by Stride advisers disclaim all liability and responsibility (including without Property Limited (Stride). The information in this presentation is an limitat
Slide 3: Today's presenters
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Today’s presenters Tim Storey Peter Alexander Jennifer Whooley Philip Littlewood Chair, SIML Chief Executive Officer, Chief Financial Officer General Manager, SIML and Company Secretary, Investment Management, SIML SIML Str
Slide 4: Agenda & contents
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Agenda & contents I. Executive summary II. Overview of variation proposal and restructuring III. Overview of SIML’s business IV. The Stapled Group’s dividend policy V. Timetable VI. Shareholder Q&A VII. Shareholder resoluti
Slide 5: Executive summary
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Executive summary Stride Property Limited — Variation Proposal and Restructuring Presentation 5
Slide 6: Executive summary
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Executive summary Introduction • On 30 May 2016, Stride announced the restructuring of its operations to separate its real estate investment management (REIM) business from its property ownership business • Stride will reta
Slide 7: Executive summary (cont.)
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Executive summary (cont.) Associated • As part of the growth of SIML’s REIM business: Transactions1 • Stride proposes to distribute 91.1m ordinary shares that it holds in its wholly-owned subsidiary, Investore, to Sharehold
Slide 8: Overview of variation proposal and restructuring
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Overview of variation proposal and restructuring Stride Property Limited — Variation Proposal and Restructuring Presentation 8
Slide 9: Overview of Stride's proposed restructuring
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Overview of Stride’s proposed restructuring What is the purpose? • The intention of the proposed restructuring is to: • Provide greater flexibility for its investment structure and REIM business • Ensure Stride is “fit for
Slide 10: Overview of the proposed Stapled structure
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Overview of the proposed Stapled structure • Stride shareholders will receive 1 SIML share for every 1 Stride share they hold • The below structure provides an illustrative example of the changes that would occur to the sha
Slide 11: What are the practical impacts of the Stapling structure?
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx What are the practical impacts of the Stapling structure? • Under the Restructuring, shareholders will retain existing Stride shares and receive the same number of shares in SIML and retain the same proportionate interest i
Slide 12: Forecast impact on Shareholder Dividends
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Forecast impact on Shareholder Dividends • The analysis below highlights Stride’s projections to materially increase its distribution to shareholders following the growth in its REIM business • Shareholder approval of the V
Slide 13: Overview of SIML's business
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Overview of SIML’s business Stride Property Limited — Variation Proposal and Restructuring Presentation 13
Slide 14: SIML's real estate investment management portfolio
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx SIML’s real estate investment management portfolio • Upon completion of the Acquisition (and assuming the Demerger and IPO occur) SIML will be managing investment properties of over $2 billion in value • The total portfolio
Slide 15: SIML's real estate investment management offerings
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx SIML’s real estate investment management offerings Three integrated business groups SIML Finance and administration Investment management Property management • Financial and management accounting • Portfolio and fund manage
Slide 16: Growth in SIML's REIM business
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Growth in SIML’s REIM business • SIML’s managed fee income will increase in FY17 and FY18 due to the part-year effect in FY17 and full- year effect and FY18 of SIML becoming the exclusive manager of Investore and Diversifie
Slide 17: Highly experienced Manager (SIML) with proven capabilities
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Highly experienced Manager (SIML) with proven capabilities, resources and expertise SIML Board Members Tim Storey - Chairman John Harvey Michael Stiassny David van Schaardenburg Michelle Tierney Stride Property Limited — Va
Slide 18: Stride / SIML management agreement – overview
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Stride / SIML management agreement – overview • Under a management agreement dated 10 June 2016, Stride has appointed SIML as the exclusive provider to Stride of ongoing management services Key terms Date Management fee 0.6
Slide 19: The Stapled Group's dividend policy
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx The Stapled Group’s dividend policy Stride Property Limited — Variation Proposal and Restructuring Presentation 19
Slide 20: The Stapled Group's dividend policy
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx The Stapled Group’s dividend policy • Distribute shareholder dividends which are broadly in line with its operating cash flows • Current policy is to distribute between 95% and 100% of Distributable Profit 1 annually • The
Slide 21: The Shareholder meeting and timetable
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx The Shareholder meeting and timetable Stride Property Limited — Variation Proposal and Restructuring Presentation 21
Slide 22: The Shareholder meeting
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx The Shareholder meeting Meeting details The special resolution • A Special Meeting of Shareholders is being convened, at • “That, from a time determined by the board of directors of Auckland on 30 June 2016 commencing at 9.
Slide 23: Timetable
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Timetable Date Announcement of the restructuring, variation proposal and associated transactions 10-June-2016 Meeting documents despatched to shareholders 13-June-2016 Record date for voting on variation proposal 5:00 pm 27
Slide 24: Shareholder Q&A
RAMBOTAN2015A\Presentations\22. Indigo Presentation\Indigo Presentation.pptx Shareholder Q&A Stride Property Limited — Variation Proposal and Restructuring Presentation 24
Stride Property Group — Shareholder Meeting (June 2016) on 6ix