Emirates Reit (ceic) Plc · NASDAQDUBAI:REIT
Emirates Reit (ceic) — Shareholder Meeting (November 2018)
17 slides from Emirates Reit (ceic)'s shareholder meeting presentation, November 2018
Slide 1: Extraordinary General Meeting November 2018
EXTRAORDINARY GENERAL MEETING NOVEMBER 2018
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Equitativa (Dubai) Limited, as the manager of Emirates REIT (CEIC) Limited (“Emirates REIT”) and Equitativa (AD) Limited, as the manager of The Residential REIT Limited (“The Residential REIT”), members of the Equitativa group of companies (referred
Slide 3: Table of Contents
TABLE OF CONTENTS 01. Emirates REIT Update 02. Purpose 03. Resolution Presented to Shareholders Managed by Equitativa !3
Slide 4: The World's Largest Shari'a Compliant REIT
THE WORLD’S LARGEST SHARI’A COMPLIANT REIT AS AT 30 SEP 2018 11 PROPERTIES PORTFOLIO VALUE USD 915m 6 Commercial-retail Mix AED 3.4bn NET LEASABLE AREA 218,353 m2 2.3 m sqft 4 Education Complex COMMERCIAL 64% EDUCATION 1 Retail 27% INCOME PER UNIT TYPE RETAIL 9% Managed by Equitativa !4
Slide 5: Strong, Stable Tenant Base
STRONG, STABLE TENANT BASE AVERAGE OCCUPANCY LEASE MATURITY PROFILE 74 % OCCUPANCY OCCUPANCY HISTORY (1) Blended occupancy (2) School in DIP represents 8% of total occupancy Managed by Equitativa !5
Slide 6: Annualized Rent Contribution
ANNUALIZED RENT CONTRIBUTION Managed by Equitativa !6
Slide 7: Performance
PERFORMANCE PORTFOLIO VALUE USD 915m AED 3.4 bn NET ASSET VALUE USD 529m AED 1.9 bn NET ASSET VALUE PER SHARE USD 1.76 After dividend distribution of USD 0.04 per share Dividends FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 per share USD0.0025 USD0.05 USD0.05 USD0.08 USD0.08 USD0.08 USD0.08 As a
Slide 8: Slide 8
Slide 9: Purpose
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Slide 10: Purpose
PURPOSE EXTRAORDINARY GENERAL MEETING Dubai Islamic Bank is a shareholder (above 5%) of Emirates REIT making it a Related Party Any transaction with Dubai Islamic Bank would therefore be a Related Party Transaction (CIR Rule 8.3.2) TERMS Principal amount up to AED 500,000,000 Tenure of 7 years Margi
Slide 11: LTV Scenarios
LTV SCENARIOS SCENARIO 1 Full facility used to make acquisitions at market prices 41% Current LTV 49%Scenario 1 LTV SCENARIO 2 Full facility used to make acquisitions at a 20% discount to market prices 41% Current LTV 47%Scenario 2 LTV Managed by Equitativa !11
Slide 12: Resolution Presented to Shareholders
RESOLUTION PRESENTED TO SHAREHOLDERS
Slide 13: EGM Resolution
EGM RESOLUTION RESOLUTION 1: ORDINARY To approve and authorise the REIT Manager on behalf of the REIT to enter into Related Party Transactions in respect to: A Secured Financing Facility (the “Facility”) and related documents with Dubai Islamic Bank PJSC (“DIB”) of which the key terms are: - Princip
Slide 14: Thank You
THANK YOU
Slide 15: Non-Attending Proxy Votes
NON-ATTENDING PROXY VOTES FOR AGAINST 7 4 Managed by Equitativa !15
Slide 16: Non-Attending Proxy Votes
NON-ATTENDING PROXY VOTES FOR FOR AGAINST SHAREHOLDER SHARES SHAREHOLDER SHARES SQM Frontier Middle East Saudi Aramco Investment 9,260,000 7,494,194 Master Fund LTD Management Company King Abdullah Petroleum Studies and Research Oaks Emerging Umbrella Fund PLC 2,576,092 2,833,215 Center Investment M
Slide 17: Attending Votes Shares
ATTENDING VOTES SHARES SHAREHOLDER SHARES Vintage Bullion DMCC 35,025,600 Dubai Properties Group 29,699,100 TECOM Investments 11,429,300 Deyaar 5,159,800 TOTAL: 81,313,800 Managed by Equitativa !17
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