SLIDE 1
Pr e c inc t Pr
- pe r
tie s Ne w Ze aland Annual Ge ne r al Me e ting
18 No ve mb e r 2015
Welcome
and good morning
Cra ig Sto b o ,
Cha irma n
Pr e c inc t Pr ope r tie s Ne w Ze aland Annual Ge ne r al Me e - - PowerPoint PPT Presentation
Pr e c inc t Pr ope r tie s Ne w Ze aland Annual Ge ne r al Me e - - PowerPoint PPT Presentation
Pr e c inc t Pr ope r tie s Ne w Ze aland Annual Ge ne r al Me e ting 18 No ve mb e r 2015 Welcome and good morning Cra ig Sto b o , Cha irma n BOARD AND E XE CUT I VE Manage me nt Sc ott Pr itc har d Ge or ge Cr awfor d
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BOARD AND E XE CUT I VE
Ge or ge Cr awfor d
Chie f Ope ra ting Offic e r
Chr is Judd
Dire c tor
Rob Campbe ll
Dire c tor
Gr ae me Hor sle y
Inde pe nde nt Dire c tor (ste pping down)
Gr ae me Wong
Inde pe nde nt Dire c tor
Don Huse
Inde pe nde nt Dire c tor
Sc ott Pr itc har d
Chie f E xe c utive Offic e r
Mohamme d Al Nuaimi
Dire c tor
Manage me nt Boar d
L auna Inman
Inde pe nde nt Dire c tor
Davida Dunphy
Ge ne ra l Counse l a nd Compa ny Se c re ta ry
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POSI T I VE RE SUL T S
$122.4m
ne t pr
- fit afte r
tax
$64.8m
r e valuation gain
Ne t ope ra ting inc ome
$68.3m
ne t ope r ating inc ome afte r tax
+7.1%
inc r e ase in ne t ope r ating inc ome afte r tax
$1.11
ne t tangible asse ts pe r shar e
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CAPI T AL MANAGE ME NT
Re duc tion of Ge ar ing: 33.8% to 11.3% Capital Manage me nt initiative s:
- Unite d Sta te s Priva te Pla c e me nt
- Ne w Ze a la nd Bo nd I
ssue
- E
ntitle me nt o ffe r whic h ra ise d $174 millio n
- Asse t sa le s
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We ha ve fo llo we d a stra te g y fo r
tr ansfor ming the c o mpa ny a nd gr
- wing
value , while c o ntinuing c lo se ma na g e me nt
- f risk a nd re wa rd
BOARD F OCUS BOARD F OCUS BOARD F OCUS E XE CUT I NG ON ST RAT E GY
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F Y16 DI VI DE ND
1.35 c e nts pe r sha re
F Y16 1st quar
te r divide nd
10 De c e mbe r 2015
F Y16 1st quar
te r divide nd payme nt date
5.40 c e nts pe r sha re
F Y16 divide nd guidanc e
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DRI VI NG VAL UE
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K E Y ME T RI CS
98%
portfolio oc c upa nc y
5.0ye a rs
we ig hte d a ve ra g e le a se te rm
(e xc luding downtown shopping c e ntre )
HIST ORICAL PE RF ORMANCE
25,600m 2
total le asing tr ansac tions
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AN E VOL VI NG PORT F OL I O
An e stima te d 200,000m2 o f ne w spa c e will b e ne e de d to me e t de ma nd Auc kla nd CBD ma rke t stro ng
Wa te rfro nt pre fe re nc e
Auc kla nd’ s stro ng po pula tio n g ro wth Auc kla nd po rtfo lio fully o c c upie d
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WYNYARD QUART E R
Ne t L e ttable Ar e a (NL A) 13,400sqm T
- tal pr
- je c t c ost
$83.6m Constr uc tion Comme nc e me nt E nd 2015 Pr ac tic al c omple tion July 2017 E xpe c te d valuation on c omple tion $98.2m Yie ld on c ost 8.0% Gr id AKL le ase te r m 12 ye ar s NL A Pr e - c ommit % 70%
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WYNYARD QUART E R NE XT ST E PS
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DOWNT OWN UPDAT E
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DOWNT OWN NE XT ST E PS
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One he c ta re o f la nd a dja c e nt to b e e hive
BOWE N CAMPUS
Re c e ive d Ca b ine t a ppro va l fo r the Cro wn to e nte r the fina l pha se o f the Go ve rnme nts We lling to n Ac c o mmo da tio n Pro je c t Pa sto ra l Ho use , Ma yfa ir Ho use , a nd 3 T he T e rra c e ha ve a lso b e e n a ppro ve d 1 T he T e rra c e still re ma ins unde r c o nside ra tio n re q uire me nts
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OUT L OOK
- Str
- ng po sitio n to g ro w
- Str
- ng fina nc ia l po sitio n
- Str
- ng o c c upie r ma rke t
- Str
- ng CBD re ta il ma rke t
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QUE ST I ONS AND ANSWE RS
Ple a se sta te yo ur na me a nd a dvise whe the r yo u a re a sha re ho lde r
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F ORMAL BUSI NE SS
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Re so lutio n 1 & 2
Cr aig Stobo, Inde pe nde nt Dir e c tor and Chair man F ir st appointe d: 4 May 2010
Bo a rd c o mmitte e s: Cha irma n o f the no mina tio ns c o mmitte e a nd me mb e r o f the a udit a nd risk, the due dilig e nc e a nd the re mune ra tio n c o mmitte e s.
L auna Inman, Inde pe nde nt Dir e c tor F ir st appointe d: 28 Oc t 2015
Bo a rd c o mmitte e s: L a una is a me mb e r o f the no mina tio ns c o mmitte e a nd due dilig e nc e c o mmitte e .
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Re so lutio ns
T ha t Cra ig Sto b o b e re -e le c te d a s a dire c to r o f Pre c inc t. T ha t L a una I nma n b e e le c te d a s a dire c to r
- f Pre c inc t.
Resolution 2 Resolution 1
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Re so lutio ns T ha t, with e ffe c t fro m 1 No ve mb e r 2015 (b e ing the a nnive rsa ry o f the c o mpa ny’ s c o rpo ra tisa tio n) the a g g re g a te Dire c to r’ s fe e po o l (b e ing a mo ne ta ry sum pe r a nnum pa ya b le to a ll dire c to rs) fo r the c o mpa ny, pursua nt to listing rule 3.5.1(a ) b e inc re a se d fro m $450,000 to $580,000.
Resolution 3
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Re so lutio ns
T ha t the dire c to rs b e a utho rise d to fix the re mune ra tio n o f E rnst & Yo ung a s a udito r fo r the e nsuing ye a r.
Resolution 4
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