Gowing Bros. Ltd. · ASX:GOW
Gowing Bros — Shareholder Meeting (November 2019)
14 slides from Gowing Bros's shareholder meeting presentation, Nov 21, 2019
Slide 1: 151st Annual General Meeting
151st Annual General Meeting 21 November 2019
Slide 2: 2019 AGM | Agenda: Order of Business
2019 AGM | Agenda Order of Business • Ordinary Business • Item 1: Financial Statements and Reports • Item 2: Non-binding Resolution to adopt Remuneration Report • Item 3: Re-Election of Director • Management Presentation & Questions 2
Slide 3: Item 1: Financial Statements and Reports
2019 AGM | Item 1: Financial Statements and Reports Financial Statements and Reports: “To receive and consider the financial statements and the reports of the Directors and Auditors for the year ended 31 July 2019.” 3
Slide 4: Item 2: Non-binding Resolution to adopt Remuneration Report
2019 AGM | Item 2: Non-binding Resolution to adopt Remuneration Report Resolution 1: Remuneration Report To consider and, if thought fit, pass the following Resolution as a non-binding ordinary resolution: “That the Company’s Remuneration Report for the year ended 31 July 2019 be adopted.” 4
Slide 5: Item 2: Remuneration Report Proxy Votes
2019 AGM | Item 2: Non-binding Resolution to adopt Remuneration Report (cont’) Proxy Votes Received: Proxy Votes Received Percentage of Usable Votes For 8,801,345 89.20% Against 220,848 2.24% Open Usable – Chairman* 787,766 7.98% Open Usable - Other 57,517 0.58% Abstain 183,272 n/a Excluded Votes 16
Slide 6: Item 3: Re-Election of Director
2019 AGM | Item 3: Re-Election of Director Resolution 2: Re-Election of Director To consider and, if thought fit, pass the following Resolution as an ordinary resolution: “That Mr Sean Clancy, who is required to retire as a Director by rotation in accordance with the Constitution and who, being elig
Slide 7: Item 3: Re-Election of Director Proxy Votes
2019 AGM | Item 3: Re-Election of Director (cont’) Proxy Votes Received: Proxy Votes Received Percentage of Usable Votes For 24,265,769 92.96% Against 991,231 3.80% Open Usable – Chairman* 787,766 3.02% Open Usable - Other 57,517 0.22% Abstain 4,769 n/a Excluded Votes - n/a * Refers to proxies given
Slide 8: Key Business Updates
Key Business Updates 21 November 2019
Slide 9: Moonee Market Investment Summary
2019 AGM | Moonee Market Investment Summary Sale $30.5 m Yield - Passing Income 6.4 % - Fully leased Income 7.5 % Net Income $8.5 m Total Returns $39.0 m Purchase Price (April 2010) $13.2 m Capital Expenditure $6.8 m Total Investment $20.5 m Multiple of Money 1.95x IRR (2010 – 2019) 11.3% pa Note: M
Slide 10: Sawtell Commons Investment Summary to Date
2019 AGM | Sawtell Commons Investment Summary to Date Purchased Dec 2016 $9.0 m - 165 Lot DA Approved - Estimate Potential Sales $39.6 m - Avg Lot price $240 k Reconfigured Oct 2019 - 220 Lot DA Approved - Estimate Potential Sales $63.8 m - Avg Lot price $290k Stage 1 – Display Village - 7 Lots sold
Slide 11: Kempsey Central Shopping Centre
2019 AGM | Kempsey Central Shopping Centre Cinema complex at Kempsey Central. Anticipated handover to Majestic Cinemas and opening end of November 2019 11
Slide 12: Port Central Shopping Centre
2019 AGM | Port Central Shopping Centre 12
Slide 13: Harbour Drive – Solitary Development
2019 AGM | Harbour Drive – Solitary 30 Development Artist impression of potential mixed use development opportunity 13
Slide 14: 151st Annual General Meeting
151st Annual General Meeting 21 November 2019