2014 Annual Meeting Results

2014 Annual Meeting Results

DNZ 2014 Annual Meeting Results 5/09/2014

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: 116,721,972 (99.96%)
Votes against: 40,939 (0.04%)

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: 110,618,454 (99.79%)
Votes against: 235,943 (0.21%)

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: 116,649,288 (99.86%)
Votes against: 166,585 (0.14%)

Resolution passed.

Resolution 4
That Michelle Patricia Tierney be elected as a director of the Company pursuant to clause 20.3 of the Constitution.

Votes for: 110,856,730 (99.83%)
Votes against: 187,702 (0.17%)

Resolution passed.

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

 


 

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

Peter Alexander, Chief Executive Officer, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: peter.alexander@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 $773.35 million* (as at 30 June 2014) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2014, DNZ Property Fund owned 45 properties with 291 tenants, a weighted average lease term (WALT) of 5.5 years and an occupancy rate of 99.21% over a net lettable area of 358,207m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ is also the manager of Diversified NZ Property Fund Limited, a $115.9 million (as at 31 March 2014) commercial property fund.

DNZ’s top 10 tenants as at 30 June 2014: Bunnings, Progressive Enterprises (Countdown), Foodstuffs (PAK’nSAVE & New World), ASB, NZ Government, Fletcher Building, The Warehouse, Westpac, Meridian and Lion. These 10 tenants represent 51% of the Company’s total contract rental.

* 31 March 2014 valuations less assets sold post 31 March 2014 balance date.

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