Irish Residential Properties Reit Plc · EURONEXT:IRES
Irish Residential Properties Reit — Shareholder Meeting (May 2018)
30 slides from Irish Residential Properties Reit's shareholder meeting presentation, May 29, 2018
Slide 1: 2018 Annual Shareholders' Meeting
Irish Residential Properties REIT plc 2018 Annual Shareholders’ Meeting 29 MAY 2018
Slide 2: Cautionary Statements
DISCLAIMER Cautionary Statements This presentation has been prepared by Irish Residential Properties REIT PLC (the “Company” or “I-RES”) for information purposes only. This presentation has been prepared in good faith but the information contained in it has not been independently verified and does n
Slide 3: Continued Strong Operating Performance
Continued Strong Operating Performance Occupancy Average Monthly Rent Revenue from Net Rental Income 99.8% €1,517 Investment Properties €36.3m €44.7m +18.6% +15.2% 37 €’m 101.0% +6.3% 46 €’m 1,600 36 € 44 36.3 100.0% 1,500 44.7 35 1,517 99.8% 34 99.0% 1,400 42 33 98.7% 1,427 40 €’m 32 98.0% 1,300 €’
Slide 4: Continued Returns for Shareholders
Continued Returns for Shareholders EPRA NAV EPRA Earnings per Share Dividends per Share (€ millions) € cents € cents +7.2% +22.4% 510 7 5.30 +6.1% 500 504 6 5.20 5 6.0 5.2 490 5.10 4 4.9 480 5.00 3 470 4.90 470 2 4.90 460 1 4.80 450 0 4.70 2016 2017 2016 2017 2016 2017 2018 Annual Shareholders’ Meet
Slide 5: Continued Investment in Assets
Continued Investment inAssets Value of Investment Properties at 31 December 2017: €751m (2450 units) 2017: • Successful completion in July 2017 of “The Maple” development – 68 apartments at Beacon South Quarter, Sandyford. Fully leased at the end of 2017 • Acquisition of a 4.5 acre development site
Slide 6: Hansfield Wood
Hansfield Wood On 15 November 2017, the Company made its first acquisition in partnership with a local builder at Hansfield Wood, Dublin 15. • 4.5 acre development site with purchase price of €7 million • Development agreement for 99 residential units - consideration €23 million (including VAT, excl
Slide 7: Hampton Wood
Hampton Wood • Acquisition completed on 21 May 2018 for €39.995 million (including VAT, excluding other transaction costs) • 128 apartments, with 128 car parking spaces • 24 apartments occupied and 104 available immediately for lease up at market rents. • Investment anticipated to generate gross yie
Slide 8: Strong Financial Position
Strong Financial Position 31 December 31 December 2017 2016 Net Assets €504.0M €469.6M EPRA Net Assets €504.2M €469.6M Basic NAV per share (cents per share) (1) 120.8 112.5 EPRA NAV per share (cents per share) (1) 118.5 111.7 Group Total Gearing 33.0% 31.3% As At 31 December 2017 Acquisition / Devel
Slide 9: Positive Outlook
PositiveOutlook • CONTINUING STRONG ECONOMIC GROWTH 61,300 new jobs created and 7.8% GDP growth in 2017 (1) • POPULATION GROWTH • HOUSING DEMAND SIGNIFICANTLY OUTWEIGHS SUPPLY • OPPORTUNITY TO GROWTH PRIVATE RESIDENTIAL SECTOR (1) Source: Central Statistics Office (2) Source: Housing development o
Slide 10: Strategies For Future Growth
Strategies For Future Growth Development of Existing Local Development Acquisition of Completed I-RES Properties Partnerships Assets • Opportunity to add approximately Partnerships with local builders and • Continued evaluation of new acquisition 600(1)apartments at currently-owned I-RES developers
Slide 11: Development Update
Development Update Total assets under development – c.600 units (+25%) • Full planning permission was granted in March 2018 for the conversion of commercial spaces at Tallaght Cross West to 19 residential apartments • Planning application for 61 apartments at Bakers Yard site is in final submission
Slide 12: Excellent Property Management and Operating Model
Excellent Property Management and Operating Model Technology Knowledge & Staff Training Integrated Service Customer and Systems Experience Approach Communications of PRS 12 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 13: Resolutions
Resolutions
Slide 14: Resolution 1
Resolution 1 To receive and consider the Financial Statements for the year ended 31 December 2017 and the reports of the Directors and Auditors thereon Proxy Votes held % For 243,519,726 100 Against 0 0 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 15: Resolution 2(a)
Resolution 2(a) To elect Tom Kavanagh as a Director with effect from 1 June 2018 Proxy Votes held % For 243,444,355 99.96 Against 75,371 0.03 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 16: Resolution 2(b)(i)
Resolution 2(b)(i) To re-elect Phillip Burns as a Director Proxy Votes held % For 234,573,884 99.14 Against 2,016,010 0.85 Vote withheld 6,929,832 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 17: Resolution 2(b)(ii)
Resolution 2(b)(ii) To re-elect David Ehrlich as a Director Proxy Votes held % For 234,336,883 99.04 Against 2,253,011 0.95 Vote withheld 6,929,832 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 18: Resolution 2(b)(iii)
Resolution 2(b)(iii) To re-elect Joan Garahy as a Director Proxy Votes held % For 242,569,325 99.60 Against 950,401 0.39 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 19: Resolution 2(b)(iv)
Resolution 2(b)(iv) To re-elect Declan Moylan as a Director Proxy Votes held % For 242,814,088 99.71 Against 705,638 0.29 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 20: Resolution 2(b)(v)
Resolution 2(b)(v) To re-elect Aidan O’Hogan as a Director Proxy Votes held % For 239,824,219 98.48 Against 3,695,507 1.52 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 21: Resolution 2(b)(vi)
Resolution 2(b)(vi) To re-elect Margaret Sweeney as a Director Proxy Votes held % For 242,900,222 99.74 Against 619,504 0.25 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 22: Resolution 3
Resolution 3 Authority to call a general meeting on 14 clear days’ notice Proxy Votes held % For 225,535,810 92.61 Against 17,983,916 7.38 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 23: Resolution 4
Resolution 4 Authority to fix the remuneration of the Auditors in respect of the period expiring at the next Annual General Meeting of the Company Proxy Votes held % For 235,441,562 96.68 Against 8,078,164 3.32 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 24: Resolution 5
Resolution 5 To approve the appointment of KPMG as auditors of the Company Proxy Votes held % For 242,795,751 99.73 Against 651,587 0.27 Vote withheld 72,388 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 25: Resolution 6
Resolution 6 Authority to allot relevant securities up to specified limits Proxy Votes held % For 228,559,005 93.85 Against 14,960,721 6.14 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 26: Resolution 7(a)
Resolution 7(a) Authority to disapply pre-emption rights in specified circumstance Proxy Votes held % For 243,502,726 99.99 Against 17,000 0.01 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 27: Resolution 7(b)
Resolution 7(b) Additional authority to disapply pre-emption rights for an acquisition or specified capital investment Proxy Votes held % For 243,502,726 99.99 Against 17,000 0.01 Vote withheld 0 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 28: Resolution 8
Resolution 8 Authority to make market purchases of the Company’s own shares Proxy Votes held % For 242,738,567 99.69 Against 734,820 0.30 Vote withheld 46,339 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
Slide 29: Resolution 9
Resolution 9 Authority to re-issue treasury shares at a specified price range Proxy Votes held % For 236,482,405 97.12 Against 6,990,982 2.87 Vote withheld 46,339 - 2018 Annual Shareholders’ Meeting Irish Residential Properties REIT plc
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