Results of Special Meeting

Results of Special Meeting

NZX Announcement Immediate — 30 June 2016

Stride Property Limited (Stride) is pleased to declare the results of the special resolution put to Stride’s Special Meeting of shareholders in Auckland this morning. The resolution was passed as follows:

 

Special Resolution:

  • That, from a time determined by the board of directors of Stride, the Constitution of Stride be revoked and Stride adopt a replacement Constitution in the form described in the Explanatory Memorandum attached to the Notice of Meeting and tabled at the Special Meeting and signed by the Chair for the purpose of identification, provided that the Variation Proposal will be deemed not to have been passed unless the board of directors of Stride resolve that, in the board’s view, the adoption of the replacement Constitution remains in the best interests of Stride and its Shareholders.

Votes for: 141,427,997 (82.43%)
Votes against: 30,143,774 (17.57%)

Resolution passed

The board of directors of Stride (Board) met following the Special Meeting and has resolved that, in the Board’s view, the adoption of the replacement Constitution remains in the best interests of Stride and its Shareholders. The Board has determined that the Constitution of Stride will be revoked and the replacement Constitution in the form described in the Explanatory Memorandum attached to the Notice of Meeting and tabled at the Special Meeting will be adopted by Stride from 11 July 2016. At this time, Stride proposes to distribute shares in Stride Investment Management Limited (SIML) and stapling will take effect with Stride shareholders receiving one SIML share for each Stride share held by them.

The Board has also advised Investore Property Limited (Investore) of its intention to proceed with the demerger of Investore shares on 11 July 2016 concurrently with, and subject to, the issue of shares by Investore under its initial public offering. At this time, Stride shareholders will receive one Investore share for every four Stride shares held by them. Investore has today confirmed that the acquisition of the portfolio of properties from Shopping Centres Australasia Property Group Trustee NZ Limited is unconditional and that acquisition of the Tranche 1 Assets (as defined in the product disclosure statement dated 10 June 2016 prepared in connection with the initial public offer of shares in Investore) is intended to settle on 12 July 2016. Investore expects to allot shares under its initial public offering on 11 July 2016.
 


 
For Further Information Please Contact:
Tim Storey, Chairman, Stride Property Limited
Mobile: 021 633 089 – Email: tim.storey@strideproperty.co.nz

Peter Alexander, Chief Executive, Stride Property Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: peter.alexander@strideproperty.co.nz

Jennifer Whooley, Chief Financial Officer, Stride Property Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: jennifer.whooley@strideproperty.co.nz

Investore IPO — Completion of Stride Shareholder Offer
Notice of record date