Centuria Office REIT (COF) Earnings Call Transcript & Summary

Good morning, ladies and gentlemen. On behalf of the Board of Centuria Property Funds Limited, I welcome you to this General Meeting of the Unitholders of Centuria Office REIT, which I will refer to as COF. My name is Matthew Hardy. I'm a Director of Centuria Property Funds Limited, the responsible entity of COF, and the Chair of this meeting. It's now just after 10:30 a.m., and I confirm that the quorum requirements for this meeting have been satisfied. And I declare that this meeting of COF unitholders is now open. The purpose of this meeting is for the unitholders to consider and if thought fit, approve the acquisition of -- by COF of a 50% leasehold interest in 203 Pacific Highway, St Leonards, New South Wales 2065, a related party of Centuria Property Funds Limited. My fellow directors are either in the room with me or attending virtually. Also in attendance is Anna Kovarik, the Company Secretary of Centuria Property Funds Limited; and Grant Nichols, the Fund Manager of COF. Before proceeding with the formalities of the meeting, there are a few housekeeping matters to address. This meeting is being conducted by way of a virtual meeting. There is no physical meeting of unitholders. If any unitholders experience any technical issues during the course of the meeting, they should contact Boardroom by telephone on 1300 737 760 within Australia or +16 -- sorry, +61 2 9290 9600 outside Australia. The online platform for the conduct of this meeting enables unitholders to ask written and verbal questions. [Operator Instructions] Unitholders and their appointed proxies, attorneys and corporate representatives have been given the opportunity to submit written questions during the hour before the meeting opened. Unitholders have also been given the opportunity to submit written questions to the company's Secretary by e-mail prior to the meeting. I will be reviewing and responding to any written questions received later in this meeting. Unitholders and their appointed proxies, attorneys and corporate representatives can continue to submit their written questions on the resolution now and at any time during these proceedings. However, questions relating to the meeting procedure and how to vote may be submitted up until the close of voting. [Operator Instructions] Please ensure your webcast is muted before joining the call to avoid feedback. You will be asked for a participant's pin, however, simply press # to join the meeting. You will be muted upon entry. [Operator Instructions] Once your question has been answered, your line will be muted. Unitholders may vote at this meeting by clicking on the voting tab on the Navigation bar, and you may submit your vote on the resolution by clicking the for, against or abstain buttons. Your selection will change color, and a confirmation message will appear. Voting can be performed at any time during this meeting until I declare the poll is closed. That concludes the housekeeping items that I wanted to cover. I'll now proceed with the formalities of the meeting. The Notice of Meeting was dispatched to unitholders on the 18th of October 2021, and I will take the Notice of Meeting as read. There is one resolution to be proposed at this meeting, being the resolution set out in the Notice of Meeting and now displayed on the screen. I will read out the resolution and provide unitholders with an opportunity to ask questions on the resolution. The resolution proposes, "That for the purposes of Listing Rule 10.1, Chapter 2E of the Corporations Act (as modified by Part 5C.7 of the Corporations Act) and for all other purposes, approval be given for the purchase of a 50% leasehold interest in the land and building at 203 Pacific Highway, St Leonards NSW from Centuria Property Funds Limited as responsible entity of the Centuria 203 Pacific Highway Fund (203 Pacific Highway Acquisition), as detailed in the Explanatory Memorandum accompanying this Notice of Meeting." As disclosed in the Notice of Meeting, as Chair, I intend to vote all undirected proxies, which appoints or are taken to appoint the Chair of the meeting as proxy, in favor of the resolution. As disclosed in the meeting of -- in the Notice of Meeting, voting will be conducted by poll. This means each unitholder present in person, by proxy, attorney or corporate representative will have 1 vote in respect of each dollar of the value of the units they hold. The resolution is an ordinary resolution and will be approved if more than 50% of the votes cast on the resolution by unitholders, who are not disqualified from voting on the resolution, are cast in favor of it. If the resolution is not approved, the 203 Pacific Highway Acquisition will not proceed. Are there any questions?

No questions online.

Okay. If there are no questions on the resolution, they have now closed. Valid proxy votes on the resolution that were received prior to the deadline for receipt of proxy votes are now displayed on the screen and are as follows: for, 307,258,303, representing 98.92%; against, 740,853, 0.24%; and open, 2,605,806 or 0.84% of votes; abstaining, 945,127. We'll now take questions from unitholders. There are no -- I'll ask our phone moderator if there are any questions on the phone line on the resolution. On that basis, we'll now conduct the poll on the resolution. If there is any person present who believes they are entitled to vote, but has not been able to vote through the online platform, would you please contact Boardroom now by telephone on 1300 737 760 within Australia or +61 2 9290 9600 outside Australia. I appoint Andy Ma from Boardroom as Scrutineer for the poll. I now formally open the poll and call on anyone who has not yet voted to cast their votes. I will allow a short 5-minute adjournment for voting and return to formally close the poll and the meeting. [Voting]

I now formally reconvene the meeting. And as voting has now been completed, I close the poll. The results of the vote on the resolution will be announced to the ASX once the votes have been counted after this meeting. Thank you for your attendance and your continued support of COF. The meeting is now closed.