31 Aug - 3 min read

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 ir@irongategroup.com.au 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
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