Notice of Annual Meeting – Clarification

NZX and media
announcement
—
8 March 2023

Page 1

NOTICE OF ANNUAL MEETING -
CLARIFICATION
Property for Industry Limited (PFI, the Company) provided NZX with a copy of its Notice of Meeting on
20 February 2023.

The Notice of Meeting stated that the Directors’ fees proposed under Resolution 6 would result in total
Director fees (not including ad-hoc fees) for the current Directors of $692,000 per annum, representing
an overall increase of $22,000, or 3.3%, as compared to the current fees, which were approved by
shareholders in 2021. PFI wishes to clarify that these figures assumed that all members of the
Company’s committees receive member fees. However, the Chair of the Board is currently a member
of both the Audit and Risk Committee and People Committee and PFI’s current custom is not to pay
member fees to the Chair. Allowing for this, the Directors’ fees proposed under Resolution 6 would
result in total Director fees (not including ad-hoc fees) for the current Directors of $677,750 per annum,
representing an overall increase of $20,250, or 3.1%, as compared to the current fees, which were
approved by shareholders in 2021.

This is a clarification only, and there is no change to the resolutions proposed in the Notice of Meeting
nor to the proposed Directors’ fees set out in the table in the Explanatory Notes to the Notice of
Meeting.

ENDS














ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 94 properties is leased to
around 129 tenants.

For further information please contact:

SIMON WOODHAMS
Chief Executive Officer
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Phone: +64 21 749 770
Email: woodhams@pfi.co.nz
CRAIG PEIRCE
Chief Finance and Operating Officer
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Phone: +64 21 248 6301
Email: peirce@pfi.co.nz
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Property for Industry Limited
Level 4, Hayman Kronfeld Building, 15 Galway Street,
Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
www.propertyforindustry.co.nz