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Elite Uk Reit — Elite Commercial REIT — Shareholder Meeting (April 2021)
19 slides from Elite Uk Reit's shareholder meeting presentation, Apr 22, 2021
Slide 1: 1st Annual General Meeting
1st Annual General Meeting 22 April 2021
Slide 2: Important Notice
Important Notice This announcement is for information only and does not constitute or form part of an offer, invitation or solicitation of any offer to purchase or subscribe for units in Elite Commercial REIT (“Units”) in Singapore or any other jurisdiction nor should it or any part of it form the b
Slide 3: Content
Content 1. 2020 Year in Review 2. Key Financial Highlights – Listing Date (6 February 2020) to 31 December 2020 3. Resolutions & Unitholders’ Approvals 2
Slide 4: 2020 Year in Review
Section I 2020 Year in Review Holborn House, Derby
Slide 5: First & Only UK-Focused S-REIT with Over 99% Leased to AA-rated UK Government
ELITE COMMERCIAL REIT: First & Only UK-Focused S-REIT with Over 99% Leased to the AA-rated UK Government1 155 Portfolio value of 97% Long WALE office assets, £515.3m Freehold2 7.2 years3 100% occupied High Road, Ilford Holborn House, Derby Glasgow Benefits Centre, Glasgow Blackburn Road, Burnley Par
Slide 6: Initial IPO portfolio geographically diversified and primarily occupied by the DWP
Listed on 6 February 2020, ECR’s initial IPO portfolio of 97 office assets is geographically-diversified and primarily occupied by the DWP Population Density • Key occupier is Department for Work & Pensions (DWP), UK’s largest public service Densely Populated Areas department Less Densely Populated
Slide 7: Proposed acquisition of 58 commercial assets
On 19 October 2020, ECR announced the proposed acquisition of 58 commercial assets, which reinforces the Manager's investment strategy Summary of the New Properties 58 commercial properties primarily leased to UK Agreed Value £212.5m Government entities, with a WALE of 7.4 years(1) No. of assets 58
Slide 8: Enlarged Portfolio – Diversified and More Resilient
Enlarged Portfolio – Diversified and More Resilient Portfolio Quality Size and Liquidity 36% London exposure 60% increase in total number of properties 5 new UK Government tenants 39% increase in market cap Extends exposure to UK sovereign credit Diversify Tenant Mix Tenant Breakdown by Gross Rental
Slide 9: Completion of maiden portfolio acquisition of 58 properties
The Manager completed its maiden portfolio acquisition of 58 commercial properties across UK on 9 March 2021. ✓ Issue up to 131.4 million New Units at £0.68 per Unit to fund acquisition ✓ European institution PartnerRE increases stake from 1% currently to 23% of the REIT’s enlarged share capital Abo
Slide 10: Key Financial Highlights
Section II Key Financial Highlights Listing Date (6 February 2020) to 31 December 2020 Nutwood House, Canterbury
Slide 11: Outperformance in a challenging environment
Outperformance in a challenging environment 6 February 2020 (Listing date) – 31 December 2020 • Outperformance of actual distributable income to unitholders and DPU against IPO Forecast – Actual distributable income to unitholders exceeds 2.1% : £14.8 million vs £14.5 million – Actual DPU exceeds 2.
Slide 12: Key Highlights
Key Highlights 6 February 2020 (Listing date) – 31 December 2020 6 Feb to 31 Dec 2020 Actual1 Forecast2 Variance £’000 £’000 % Revenue 20,963 20,985 0.1 Profit before tax3 29,099 13,019 123.5 Profit after tax3 23,358 10,521 122.0 Income available for distribution to 14,841 14,536 2.1 Unitholders Dis
Slide 13: Strong Balance Sheet
Strong Balance Sheet As at 31 December 2020 £’000 Non-current assets 311,8551 Current assets 21,034 Total assets 332,889 Non-current liabilities 107,826 Current liabilities 7,905 Total liabilities 115,731 Net assets / Unitholders’ funds 217,158 Units in issue and issuable (‘000) 333,858 Net asset va
Slide 14: Resilient Performance from Listing Date to Dec 2020
Resilient Performance from Listing Date to 31 Dec 2020 Amid COVID-19 & Brexit 120% % change in unit price /index value ELITE: -2.9% 100% iEdge S-REIT: 80% -9.5% STI: -11.1% 60% 40% ELITE STI iEdge S-REIT index 13
Slide 15: Resolutions & Unitholders' Approvals
Section III Resolutions & Unitholders’ Approvals Holborn House, Derby
Slide 16: Ordinary Resolution 1
Ordinary Resolution 1 To receive and adopt the Report of the Trustee, the Statement by the Manager, 1 and the Audited Financial Statements of Elite Commercial REIT for the financial year ended 31 December 2020 together with the Auditors’ Report thereon. No. of Votes Percentage (%) For 78,652,395 99.
Slide 17: Ordinary Resolution 2
Ordinary Resolution 2 To re-appoint KPMG LLP as Auditors of Elite Commercial REIT and to hold office 2 until the conclusion of the next AGM and to authorise the Manager to fix their remuneration. No. of Votes Percentage (%) For 78,648,395 99.85% Against 117,800 0.15% 16
Slide 18: Ordinary Resolution 3
Ordinary Resolution 3 To approve the General Mandate for the issue of New Units and/or Convertible 3 Instruments No. of Votes Percentage (%) For 78,063,395 99.11% Against 702,800 0.89% 17
Slide 19: Thank You
Confidential Thank You For information on Elite Commercial REIT, do visit our website at www.elitecreit.com or reach out to us at [email protected] to find out more.
Elite Commercial REIT — Shareholder Meeting (April 2021) on 6ix