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Extraordinary General Meeting

Securityholders are currently being asked by Centuria1 to replace all current Directors other than Managing Director (Mr Stuart Dawes), and elect six replacement Directors nominated by Centuria at the upcoming Extraordinary General Meeting.

Securityholders are encouraged to read the Notice of Extraordinary General Meeting, and other securityholder communications set out below, carefully and to vote at the Extraordinary General Meeting.

 

Key Points for Securityholders

  • Your Directors unanimously recommend that securityholders vote against all resolutions proposed by Centuria.
  • If the resolutions proposed by Centuria2 are passed, Centuria will gain effective control of Propertylink without paying an appropriate control premium to all Propertylink securityholders.
  • Your Directors believe Centuria’s concerns about performance are without merit for the reasons set out in the Notice of Meeting, and concerns that the current Board is pursuing a bid for CIP rather than the ESR Proposal3 are no longer applicable.
  • Your current Directors are working in securityholders’ interests by bringing ESR’s improved $1.20 Proposal to you.
  • Replacement of your current Directors could disrupt implementation of ESR’s Proposal.
  • Centuria has not disclosed its intentions in relation to ESR’s Proposal or the views of its proposed Directors.
  • Propertylink’s Board has and continues to act in the interests of Propertylink securityholders as a whole.

 

Details of the Meeting

The Extraordinary General Meeting requisitioned by Centuria4 will be held at Computershare Investor Services Pty Ltd, Level 4, 60 Carrington Street, Sydney NSW 2000 on Thursday, 15 November 2018 at 10:00am (AEDT).

 

Voting Information

If you are unable to attend the meeting, you are encouraged to complete and return your Proxy Form by no later than 10:00am on Tuesday 13 November 2018 in one of the ways set out in the Proxy Form attached to Propertylink’s Notice of Extraordinary General Meeting.

 

Contact Information

If you require further information or have questions, please contact the Propertylink Securityholder Information Line on 1300 889 468 (within Australia) or +61 2 8022 7954 (outside Australia).

 

1 Propertylink Holdings Limited securityholder meeting requisitioned by Centuria Investment Holdings Pty Limited as trustee of Centuria Capital No. 2 Industrial Fund (Centuria) on 20 September 2018. Centuria is a wholly-owned subsidiary of the Centuria Capital Group.
2 Centuria Investment Holdings Pty Limited as trustee of Centuria Capital No. 2 Industrial Fund
3 ESR Real Estate (Australia) Pty Ltd’s (ESR) non-binding, indicative and conditional proposal to acquire all Propertylink securities by way of an agreed takeover bid.
4 Centuria Investment Holdings Pty Limited as trustee of Centuria Capital No. 2 Industrial Fund