Results of Annual General Meeting
Results of Annual General Meeting Irongate Group (JSE: IAP) Comprising Irongate Property Fund I (IPF I, ARSN 162 067 736) and Irongate Property Fund II (IPF II,ARSN 644 081 309), established in Australia and registered with ASIC as managed investment schemes Operated by Irongate Funds Management Limited (ACN 071 514 246; AFSL 290 909) (Responsible Entity) IPF I is registered as a foreign collective investment scheme in terms of the Collective Investment Schemes Control Act No.45 of 2002 ISIN: AU0000046005 (IAP or the Fund) SENS ANNOUNCEMENT 31 August 2021 Results of Annual General Meeting Securityholders are advised that at today’s Annual General Meeting of the Fund, the results of the resolutions as set out in the Notice of Meeting dated 30 July 2021 are as follows: % of issued capital Number Total number of securities 79.34% 511,988,286 present/represented including proxies at meeting Resolution Proposed For Against** Abstain* Resolution 1- Ordinary resolution 136,598,528 375,389,758 0.62% Director nomination – Tony Pitt 26.68% 73.32% Resolution 2 – Ordinary resolution: 136,598,528 375,389,758 0.62% Director nomination – James Storey 26.68% 73.32% Resolution 3 – Ordinary resolution: 343,770,751 167,005,129 0.73% Remuneration report 67.30% 32.70% Resolution 4 – Ordinary resolution: 363,222,210 148,086,684 0.72% Grant of performance rights to CEO 71.04% 28.96% Resolution 5 – Ordinary resolution: 290,336,246 221,101,914 0.70% Issue of stapled securities - JSE 56.77% 43.23% Resolution 6 – Ordinary resolution: 309,618,685 22,485,380 28.40% Ratification of placement - ASX 93.23% 6.77% *in relation to total issued capital **in relation to total number of securities voted at the Annual General Meeting The Chairman of Irongate Funds Management Limited, Richard Longes, said “We would like to thank our many investors for their support and acknowledgement of IAP’s strategy, management team and the board.” “The board is committed to the highest standards of governance and remain strongly of the view that independence must be maintained from any sectional interests of one particular securityholder. This is important in an internalised fund such as IAP, especially where a key element for growth is to attract and manage third party capital. “IAP has performed strongly since its internalisation. It has a high performing management team and has a proven strategy to build on its history of delivering attractive returns for all securityholders. “With regard to the vote on the adoption of the remuneration report, while we are respectful of the views of our securityholders, we note that if the 360 Capital Group vote is not included in the calculation, the vote of other securityholders would have seen the resolution passed with more than 88% of securityholders in favour” However, since securityholders representing more than 25% of the voting rights cast at the meeting voted against resolution 3, the board invites dissenting securityholders to provide any questions or concerns to email@example.com by no later than Thursday, 30 September 2021. Thereafter the board will engage with individual securityholders to seek to address their concerns. Securityholders should also note under the Corporations Act 2001(Cth), as securityholders representing more than 25% of the voting rights cast at the meeting voted against resolution 3, this constitutes a “first strike”. Under this regime, in the event that two strikes are recorded against IAP’s remuneration report at two consecutive annual general meetings, a spill resolution will be put to securityholders which, if passed require that the non-executive directors who were in office at the time the relevant remuneration report was approved stand for re-election if they wish to continue in office. A copy of the Chairman’s address delivered at today’s Annual General Meeting is available for inspection by securityholders using the following link: https://www2.asx.com.au/markets/company/IAP Sponsor Investec Bank Limited Johannesburg Date: 31-08-2021 01:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
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