Mas P.l.c. · JSE:MSP

Mas P.l.c — Investor Presentation (January 2024)

15 slides from Mas P.l.c's investor presentation, January 2024

  1. Slide 1: Investor Presentation January 2024

    Investor Presentation January 2024 GREEN PROPERTY INVESTOR IN CENTRAL AND EASTERN EUROPE

  2. Slide 2: Table of Contents

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary TABLE OF CONTENTS Executive summary 3 Strategy overview 4 Background to dividend suspension 6 Debt management 11 Corporate governance 13 Glossary14 Photo: Avalon Estate 2

  3. Slide 3: Executive Summary

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary EXECUTIVE SUMMARY MAS consistently aims to maximise total long-term returns on a per share basis via a continued focus on capital allocation, operational excellence, sensible leveragin

  4. Slide 4: Business and Strategy

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary BUSINESS AND STRATEGY MAS aims to maximise total long-term returns on a per share basis from green property investments by concentrating on capital allocation, operational excellence,

  5. Slide 5: Long-Term Strategy Principles

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary LONG-TERM STRATEGY PRINCIPLES CAPITAL STRUCTURE ACTIVE ASSET MANAGEMENT MAS aims to maximise total  long-term returns per share. Debt and liability management Direct investments – Inc

  6. Slide 6: Bond Issue (May 2021)

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary BOND ISSUE (MAY 2021) MAS planned to replace its €300m Non-IG green bond issued in 2021 with a €500m IG bond in 2025/2026.  Quantitative easing  Bond market  Investment grade rated

  7. Slide 7: Developments in European Bond Market

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary DEVELOPMENTS IN EUROPEAN BOND MARKET Non-IG real estate bond issues are no longer viable as the sector is priced for default. MAS is lumped in with these issuers despite its good credi

  8. Slide 8: Developments in European Bond Market Continued

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary DEVELOPMENTS IN EUROPEAN BOND MARKET CONTINUED With Non-IG real estate credit priced for distress, reliance on debt capital markets for finance in 2025/2026 is no longer a sensible opt

  9. Slide 9: Developments in European Secured Debt Market

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary DEVELOPMENTS IN EUROPEAN SECURED DEBT MARKET Banks’ risk appetite for real estate secured debt provides challenges in raising new debt. Spill over of WE real estate systemic concerns i

  10. Slide 10: Finance Options to Replace Planned 2025/2026 Bond Issue

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary FINANCE OPTIONS TO REPLACE PLANNED 2025/2026 BOND ISSUE to be measured against maximising total long-term returns per share Impact on Tangible NAV per share 1 Rights Issue Value destru

  11. Slide 11: Debt Management

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary DEBT MANAGEMENT Debt capacity allowed by current asset structure means raising ~€343m via secured debt. 22+4+39278T 22+6+2919222T Total assets structure New secured debt required 30 Ju

  12. Slide 12: Cash Dividend with Scrip Alternative/DRIP

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary CASH DIVIDEND WITH SCRIP ALTERNATIVE/DRIP Assessment of shareholders’ comments Offering a cash dividend with  SCRIP alternative or a DRIP 100% means MAS would be likely 90% to distrib

  13. Slide 13: Governance Structure

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary GOVERNANCE STRUCTURE • Balanced Board structure, with a majority of independent Non-Executive Directors and appropriate Board committees • Compliance with King IV – best practices on g

  14. Slide 14: Glossary

    Executive summary Strategy overview Background to dividend suspension Debt management Corporate governance Glossary GLOSSARY b billion Capex Capital expenditure, funds used for improvements to and/or maintenance of Income property CEE Central and Eastern Europe or Central and Eastern European Compan

  15. Slide 15: www.masrei.com

    www.masrei.com

MAS P.l.c. — Investor Presentation (January 2024) on 6ix