annual meeting of shareholders 2017 · 2018-06-28 · meeting of shareholders, april 2017. •...
TRANSCRIPT
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Annual Meeting of Shareholders 2017
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Annual Meeting of Shareholders For the year ended 31 March 2017
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Chairman’s Welcome
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NPT Board and Management
Bruce Cotterill CHAIRMAN
Carol Campbell NON-EXECUTIVE INDEPENDENT DIRECTOR
Allen Bollard NON-EXECUTIVE INDEPENDENT DIRECTOR
Paul Duffy NON-EXECUTIVE DIRECTOR
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1. Introduction
02. Chairman’s Welcome
03. Chief Executive’s Address (by Bruce Cotterill)
04. Chairman’s Address 05. Resolutions
06. General Business
Agenda
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Chief Executive’s Address
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Financial Results
• Net Profit After Tax $3.1m.
• Net Rental Income increased by 2.62%.
• NPT’s Distributable Profit in line with forecasts.
• Total Cash Distribution for the year 3.6 cents per share.
• Dividend a minimum of 3.6 cents per share.
• NPT’s total property portfolio $174.35m.
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Eastgate Shopping Centre, Christchurch
• NPT’s largest asset by value.
• Adding community based services – known as “The Loft”.
• Working on planning a child care centre to add to services.
• Market value $59.5m.
• Occupancy 96%.
• WALT (Weighted Average Lease Term) 4.5 years.
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99 Albert Street, Auckland • Located cnr Albert and Victoria
Streets, central Auckland.
• Enhanced by construction of International Convention Centre and the City Rail Link.
• AA Insurance relocating in February 2018.
• Market value $40.85m.
• Occupancy 99%.
• WALT 1.95 years.
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Elwood Road, Hastings
• Opportunity to explore expansion to accommodate Heinz Wattie’s growth.
• Market value $27m.
• Occupancy 100%.
• WALT 9.8 years
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22 Stoddard Road, Auckland
• Anchored by The Warehouse.
• Full occupancy restored.
• Market value $36m.
• Occupancy 100%.
• WALT 4.9 years.
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17 Print Place, Christchurch
• Close proximity to Christchurch city.
• Market value $11m.
• Occupancy 77.81%.
• WALT of 1.3 years.
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Chairman’s Address
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Chairman’s Address
• Bruce Cotterill, Allen Bollard and Paul Duffy appointed at Special Meeting of Shareholders, April 2017.
• Shareholders made it clear they were seeking change.
• The Board are working on a number of initiatives that would deliver better returns to shareholders.
• Shareholders can expect a series of announcements in the near future.
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Resolutions
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Resolution 1
That Carol Campbell be re-elected as a Director of NPT Limited
Carol Campbell joined the Board of NPT in May 2015. A Chartered Accountant and a member of the Chartered
Accountants Australia and NZ. Carol has extensive financial experience and a sound
understanding of efficient Board governance. Carol holds a number of directorships including T&G Global, New
Zealand Post, NZME and the Fisher Listed Investment Companies – Kingfish, Barramundi and Marlin Global.
Carol is also a Director of Kiwibank and Chair of Ronald McDonald House Charities in New Zealand.
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Resolution 2
To authorise the Directors to fix the fees and expenses of the Auditor of the Company
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General Business