DNZ Property Fund Limited (DNZ) 2012 Annual Meeting Results

DNZ Property Fund Limited (DNZ) 2012 Annual Meeting Results

DNZ Property Fund Limited (DNZ) 2012 Annual Meeting Results 15/08/2012

DNZ today declared the poll results of the three resolutions put to the Company’s Annual Meeting in Auckland this morning.

 
All three resolutions were passed as follows:

Resolution 1

That PricewaterhouseCoopers be appointed as auditor of the Company on such terms as to fees and expenses as are determined by the directors of the Company.

Votes for: 111,163,242 (99.99%)
Votes against: 10,504 (0.01%)

Resolution passed.

Resolution 2

That Michael Peter Stiassny be re-elected as a director of the Company pursuant to clause 20.3 of the Constitution.

Votes for: 109,609,351 (98.65%)
Votes against: 1,500,436 (1.35%)

Resolution passed.

Resolution 3

That David Gregory van Schaardenburg be re-elected as a director of the Company pursuant to clause 20.3 of the Constitution.

Votes for: 78,494,208 (88.49%)
Votes against: 10,208,263 (11.51%)

Resolution passed.

The Board has also determined, in accordance with listing rule 3.3.3(a) that Tim Storey, John Harvey, Michael Stiassny and David van Schaardenburg are “Independent Directors”.
 


 
For Further Information Please Contact:
Paul Duffy, Chief Executive, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 021 843 758 – Email: paul.duffy@dnzproperty.com

Jennifer Whooley, Chief Financial Officer, DNZ Property Fund Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: jennifer.whooley@dnzproperty.com

DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2012, DNZ Property Fund owned 51 properties with 252 tenants, a weighted average lease term (WALT) of 5.6 years and an occupancy rate of 98.6% over a net lettable area of 379,960m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ Property Fund Limited also manages the $105m property portfolio of Diversified NZ Property Fund Limited for Australian institutional investors.

DNZ’s top 10 tenants as at 30 June 2012: Bunnings, Progressive Enterprises (Countdown), NZ Government, Fletcher Building, Foodstuffs (PAK’nSAVE & New World), ASB, Meridian Energy, Mitre 10, Lion and Westpac. These 10 tenants represent 52% of the Company’s total contract rental.

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