Bwp Trust · ASX:BWP
Bwp Trust — Shareholder Meeting (December 2005)
13 slides from Bwp Trust's shareholder meeting presentation, Dec 14, 2005
Slide 1: Unitholders' Meeting
Unitholders’ Meeting 14 December 2005 Vermont South, VIC
Slide 2: Portfolio – 52 properties Australia-wide
Portfolio – 52 properties Australia-wide Nov 05 VIC 191 QLD 102 NSW/ACT 11 WA 10 ) 26 SA 2 TOTAL 52 ) 10 1includes a development site ) 19 2includes 2 distribution centres ) 10 )4 )2 ) 41 ) 11 ) 126 BWH stores ) 18. 1 ) 34 ) 49 BWP – owned stores )2 . 1 BWP development site 14 December 2005 2 2
Slide 3: Portfolio – steady asset growth
Portfolio – steady asset growth $m $m 700 700 600 600 500 500 400 400 300 300 200 200 100 100 0 0 99 00 01 02 03 04 05 2 8 9 0 1 3 4 9 0 9 0 0 0 0 n- n- n- n- n- n- n- c- c- c- c- c- c- c- De De De De De De De Ju Ju Ju Ju Ju Ju Ju At cost Revaluations 14 December 2005 3 3
Slide 4: Portfolio – property upgrades
Portfolio – property upgrades Timing Expenditure Incremental rental ($million) ($000pa) Tuggeranong, ACT Dec 04 0.2 22 Fountain Gate, VIC Dec 04 1.6 130 Nunawading, VIC Feb 05 3.1 248 Mile End, SA Feb 05 0.3 26 Northland, VIC Aug 05 2.9 234 Cairns, QLD by Jun 061 0.7 60 Croydon, VIC by Jun 061 5.6 4
Slide 5: Portfolio – Bayswater, Victoria
Portfolio – Bayswater, Victoria 14 December 2005 5 5
Slide 6: Outlook
Outlook ¾ Acquisition opportunities – ex Bunnings rollout – former BBC properties (ex Wesfarmers & others) ¾ Portfolio upgrades/redevelopments ¾ Rent reviews ¾ Revaluations FY06 FY07 FY08 FY09 FY10 Rent reviews 1 6 7 22 12 14 December 2005 6 6
Slide 7: Impact of market rent reviews (MRRs)
Impact of market rent reviews (MRRs) Period ended Jun 03 Dec 03 Jun 04 Dec 04 Jun 05 Dec 05 Total MRRs (no.) - scheduled - 18 2 5 3 1 29 - actual - 10 10 - 7 1 28 DPU (cents) - actual 5.35 5.51 5.87 5.79 6.17 tba - hypothetical 5.35 5.58 5.81 5.82 6.15 tba 14 December 2005 7 7
Slide 8: Proxy votes
Proxy votes RESOLUTION 1 – AMENDMENT TO CONSTITUTION - AIFRS AND REMOVING THE FIXED DURATION OF THE TRUST For 143,591,058 (95.15%) Against 74,854 (0.05%) Open 7,247,977* (4.80%) Abstain 356,499 *includes 6,672,262 open votes held by the Chairman that will be cast for the resolution 14 December 2005
Slide 9: Proxy votes
Proxy votes RESOLUTION 2 – AMENDMENT TO CONSTITUTION - AIFRS AND DEFINITIONS OF “NET ASSET VALUE” AND “LIABILITIES” For 143,608,905 (95.15%) Against 88,886 (0.06%) Open 7,229,327* (4.79%) Abstain 343,270 *includes 6,653,612 open votes held by the Chairman that will be cast for the resolution 14 Dece
Slide 10: Proxy votes
Proxy votes RESOLUTION 3 – AMENDMENT TO CONSTITUTION - AIFRS AND THE DEFINITION OF “INCOME” For 143,541,375 (95.15%) Against 91,792 (0.06%) Open 7,229,327* (4.79%) Abstain 407,894 *includes 6,653,612 open votes held by the Chairman that will be cast for the resolution 14 December 2005 10 10
Slide 11: Proxy votes
Proxy votes RESOLUTION 4 – AMENDMENT TO CONSTITUTION – DISTRIBUTIONS OF INCOME For 143,054,719 (94.83%) Against 566,470 (0.38%) Open 7,229,327* (4.79%) Abstain 419,872 *includes 6,653,612 open votes held by the Chairman that will be cast for the resolution 14 December 2005 11 11
Slide 12: Proxy votes
Proxy votes RESOLUTION 5 – AMENDMENT TO CONSTITUTION – ASIC CLASS ORDER 05/26 AND PLACEMENTS OF UNITS WITHOUT UNITHOLDER APPROVAL For 142,503,370 (94.50%) Against 1,067,517 (0.71%) Open 7,223,083* (4.79%) Abstain 476,418 *includes 6,647,368 open votes held by the Chairman that will be cast for the r
Slide 13: Proxy votes
Proxy votes RESOLUTION 6 – AMENDMENT TO CONSTITUTION – ASIC CLASS ORDER 05/26 AND SALE PRICE FOR FORFEITED UNITS For 143,301,830 (95.03%) Against 238,095 (0.16%) Open 7,259,217* (4.81%) Abstain 471,246 *includes 6,683,502 open votes held by the Chairman that will be cast for the resolution 14 Decemb