DNZ 2013 Annual Meeting Results

DNZ 2013 Annual Meeting Results

DNZ 2013 Annual Meeting Results 13/08/2013

DNZ has declared the poll results of the four resolutions put to the Company’s Annual Meeting in Auckland this morning. All four resolutions were passed as follows:

 

Resolution 1

That the re-appointment of PricewaterhouseCoopers as auditor of the Company be recorded and the directors be authorised to fix the auditor’s fees and expenses.

Votes for: 127,434,026 (99.98%)
Votes against: 21,165 (0.02%)

Resolution passed.

Resolution 2

That Timothy Ian MacKenzie Storey be re-elected as a director of the Company pursuant to clause 20.3 of the Constitution.

Votes for: 127,184,276 (99.83%)
Votes against: 220,573 (0.17%)

Resolution passed.

Resolution 3

That Edward John Harvey be re-elected as a director of the Company pursuant to clause 20.3 of the Constitution.

Votes for: 127,359,584 (99.95%)
Votes against: 59,854 (0.05%)

Resolution passed.

Resolution 4

That, with effect from the start of the financial year commencing on 1 April 2013, the Company adopt a fee pool (being a monetary sum per annum payable to all directors taken together) pursuant to Listing Rule 3.5.1(a) of $375,000.

Votes for: 108,726,256 (94.67%)
Votes against: 6,118,660 (5.33%)

Resolution passed.

The Board has also determined, in accordance with NZSX Listing Rule 3.3.2 that Tim Storey, John Harvey, Michael Stiassny and David van Schaardenburg are “Independent Directors”.
 


 
For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 – Email: tim.storey@dnzproperty.com

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 $667 million (as at 31 March 2013) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2013, DNZ Property Fund owned 46 properties with 291 tenants, a weighted average lease term of 5.6 years and an occupancy rate of 99.6% over a net lettable area of 364,219m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ also holds management rights to Diversified NZ Property Fund Limited, a $111 million (as at 31 March 2013) commercial property portfolio.

DNZ’s top 10 tenants as at 30 June 2013: Bunnings, Progressive Enterprises (Countdown), NZ Government, Foodstuffs (PAK’nSAVE & New World), Fletcher Building, ASB, The Warehouse, Westpac, Meridian Energy, Lion. These 10 tenants represent 51% of the Company’s total contract rental.

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