Notice of annual meeting

NZX RELEASE
26 July 2024

Notice of annual meeting

Asset Plus Limited gives notice that the Annual Meeting will be held on Monday 26 August 2024
commencing at 3.30pm:

(a) online at www.virtualmeeting.co.nz/apl24; and

(b) at the offices of MUFG Pensions & Market Services (formerly Link Market Services), Level 30, PwC
Tower (Commercial Bay), 15 Customs Street West, Auckland.

The venue for the meeting is located in the PwC Tower which is part of the Commercial Bay precinct in
the Auckland CBD. On arrival in the SkyLobby via the entry on Customs Street West, please select the
lift to Level 30 to access the meeting venue at MUFG’s offices. The building is easily accessed from
Britomart and the ferry terminal if you are arriving on public transport. There are also public carparking
options available, including the Downtown carpark (closest) and Britomart carpark (short walk).

More information regarding virtual attendance at the Annual Meeting (including how to vote and ask
questions virtually during the Annual Meeting) is available in the Virtual Meeting Online Portal Guide
attached.

A copy of the notice of meeting that is being sent to shareholders is attached.

-ENDS-

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Notice is hereby given that the Annual
Meeting of Shareholders of Asset Plus
Limited will be held as follows:
Date of Meeting: 26 August 2024
Time: commencing at 3.30pm
Online: www.virtualmeeting.co.nz/apl24
Physical meeting: at MUFG Pensions & Market
Services (formerly Link Market Services),
Level 30, PwC Tower (Commercial Bay),
15 Customs Street West, Auckland (with entry
to the meeting room available from 3.00pm)
ANNUAL MEETING OF
SHAREHOLDERS
26 AUGUST 2024

Munroe Lane, Auckland
2

Notice of Annual Meeting
Asset Plus Limited (the Company) hereby gives you
notice that the 2024 Annual Meeting of Shareholders
will be held on Monday, 26 August 2024, commencing at
3.30pm (New Zealand time):
(a) online at www.virtualmeeting.co.nz/apl24
(b) at the offices of MUFG Pensions & Market
Services (formerly Link Market Services), Level
30, PwC Tower (Commercial Bay), 15 Customs
Street West, Auckland.
Agenda:
A. Chair’s Address
B. Manager’s Presentation
C. Shareholder questions
D. Resolutions:
1. Re-election of Director – Allen Bollard
Allen Bollard retires under NZX Listing Rule 2.7.1
and, being eligible, offers himself for re-election
as a Director of the Company.
To consider and, if thought fit, to pass the
following resolution as an ordinary resolution:
“That Robert Allen Bollard be re-elected as a
Director of the Company.”
A brief biography for Allen Bollard is set out in the
Explanatory Notes on page 4 .
2. Re-election of Director – John McBain
John McBain retires under NZX Listing Rule 2.7.1
and, being eligible, offers himself for re-election
as a Director of the Company.
To consider and, if thought fit, to pass the
following resolution as an ordinary resolution:
“That John Edward McBain be re-elected as a
Director of the Company.”
A brief biography for John McBain is set out in the
Explanatory Notes on page 4.
3. Auditor’s fees and expenses
To record the re-appointment of Grant Thornton
as auditors of the Company and to consider and,
if thought fit, to pass the following resolution as
an ordinary resolution:
That the Board be authorised to fix the
auditors’ fees and expenses from time to time.
An explanation of this Resolution is set out in the
Explanatory Notes on page 4.
The Board unanimously recommends that
you vote in favour of all Resolutions.
E. General Business
Such other business as may be properly raised for
discussion at the meeting.
By order of the Board
Bruce Cotterill
Chairman
26 July 2024
Notice of Meeting
3

Explanatory Notes
These notes form part of this Notice of Annual Meeting.
Resolution 1
Re-election of Director – Allen Bollard
The NZX Listing Rules provide that Directors must not
hold office (without re-election) past the third annual
meeting following the Director’s appointment or 3 years,
whichever is the longer.
Allen Bollard was last re-elected as a Director of the
Company at the Company’s 2021 annual meeting.
Accordingly, Allen is required to retire at this Annual
Meeting and, being eligible, offers himself for re-election.
The Board unanimously supports his re-election.
A brief biography of Allen Bollard follows:
Allen has a long background in accounting, business
analysis, risk management, tax, and finance, mostly in
property and construction. Starting as a partner in a
major accounting firm, he was then CFO for three listed
property companies and for ten years was CEO/CFO of
Tramco Group, which managed and financed several
large privately held leasehold land owning partnerships
including Viaduct Harbour Holdings, Tram Lease, Quay
Lease, Kiwi Forests, Wairakei Pastoral and Calland
Properties Ltd. He is now an independent business and
finance consultant and Director/Trustee. He is currently
Chair of Centuria NZ Agricultural Property Fund Ltd and
independent trustee for three large privately owned
property trust portfolios. He was until recently the
Government approved independent director of Tamaki
Makaurau Community Housing Joint Venture and Chair of
the Odyssey House Board of Trustees.
Allen joined the Board in April 2017.
The Board considers that, if re-elected, Allen Bollard will
continue to be an Independent Director for the purposes
of the NZX Listing Rules.
Resolution 2
Re-election of Director – John McBain
John McBain was last re-elected as a Director of the
Company at the Company’s 2021 annual meeting.
Accordingly, John is required to retire at this Annual
Meeting and, being eligible, offers himself for re-election.
The Board unanimously supports his re-election.
A brief biography of John McBain follows:
John McBain’s 40-year real estate career commenced after
graduating from Auckland University with a valuation
qualification. His experience spans the commercial and
industrial markets in Australia, NZ and the UK and the
healthcare and agriculture sectors in Australia.
He is an executive director of Centuria Capital Limited,
Centuria Life Limited, Centuria Healthcare Pty Limited and
Centuria Property Funds No. 3 Limited (formerly Primewest
Management Limited) and a director of Centuria Bass
Credit Pty Limited. He also serves on the Centuria NZ and
Centuria Healthcare Management committees.
John is a founder of Centuria Capital Limited and is
responsible for Centuria’s corporate team. This remit
includes corporate strategy, M&A and leadership of the
Finance, Governance, Compliance, Investor Relations,
Communications and ESG teams. He also serves on the
Non-Financial Risk Committee and the ESG Management
Committee.
John has been instrumental in the integration of
several businesses into the Centuria group, including
the 360 Capital Group, Heathley Asset Management
(now Centuria Healthcare), Augusta Capital Limited
(now Centuria NZ) and the Primewest Group. These
acquisitions, together with a successful asset programme
overseen by fellow CEO Jason Huljich, has seen the pair
oversee significant corporate growth over the past 28
years culminating in Centuria Capital Limited entering
the S&P ASX 200 Index in 2021 with the group now
managing AU$21 billion of assets.
John joined the Board in September 2020.
The Board considers that, if re-elected, John McBain
will not be an Independent Director for the purposes
of the NZX Listing Rules as he is also a director of the
Company’s largest shareholder, Centuria Platform
Investments Pty Ltd, a wholly owned subsidiary of
Centuria Capital Limited.
Resolution 3
Auditor’s fees and expenses
Grant Thornton is automatically re-appointed as auditors
of the Company under section 207T of the Companies Act
1993 at the annual meeting of shareholders.
Shareholder approval is therefore sought for the Board
to fix the fees and expenses of Grant Thornton as auditor
for the ensuing year, as required by the Companies Act.
Attendance
All Shareholders registered on the Company’s share
register as at 5.00pm on Friday, 23 August 2024 are
entitled to attend (in person or online) and vote at the
Annual Meeting or to appoint a proxy or representative
(in the case of a corporate Shareholder) to attend and
vote on their behalf.
Notice of Meeting
4

Procedural Notes and Other Matters
Attendance online
To attend the meeting online please go to
www.virtualmeeting.co.nz/apl24. Shareholders
attending online will be able to vote and ask questions
during the Annual Meeting. More information regarding
virtual attendance at the Annual Meeting (including
how to vote and ask questions virtually during the
Annual Meeting) is available in the Virtual Meeting
Guide available at https://bcast.linkinvestorservices.
co.nz/MUFG/MUFG_VirtualMeetingGuide.pdf
Attendance in person
The venue for the Annual Meeting for those
Shareholders attending in person is MUFG Pension &
Market Services (formerly Link Market Services), Level
30, PwC Tower (Commercial Bay), 15 Customs Street
West, Auckland (with entry to the meeting room
available from 3.00pm).
Asset Plus may, in its sole discretion, elect to hold
the Annual Meeting as an online only meeting if
it considers there is an impediment to holding a
physical meeting. In such circumstances, Asset Plus
will provide shareholders with as much notice as is
reasonably practicable by way of an announcement
to the NZX and on the Company’s website at
www.assetplusnz.co.nz.
Proxies
You may exercise your right to vote at the Annual
Meeting either by being present in person or by
appointing a proxy to attend and vote in your place.
A proxy need not be a Shareholder of the Company.
If you wish, you may appoint the Chair of the Annual
Meeting or any Director of the Company as your proxy.
You may direct your proxy to vote or give your proxy a
discretion to vote how he/she sees fit. If you wish to give
your proxy such discretion you must mark the appropriate
boxes on the proxy voting form.
If you do not mark any box on the proxy voting form
in respect of a resolution, then your direction is for
your proxy to abstain from voting on that resolution.
If you make more than one election in respect of the
resolution your vote will be invalid on that resolution.
If you appoint the Chair of the Annual Meeting or any
other Director as your proxy with a discretion as to how
votes are cast, the Chair or Director (as applicable) will
vote in favour of the relevant resolution.
A proxy voting form is attached to this Notice of
Annual Meeting. If you wish to vote by proxy you must
complete the form and provide it to the Company or
its share registrar, MUFG Corporate Markets, so as to
be received no later than 3.30pm (New Zealand time)
on Saturday, 24 August 2024.
Completed proxy voting forms can be sent to MUFG
Corporate Markets (formerly Link Market Services) by the
following methods:
Online: Visit the MUFG Corporate Markets Investor
website: https://investorcentre.linkgroup.nz/
voting/APL and follow the prompts.
Email: Scan and email to:
meetings@linkmarketservices.com
Please put “Asset Plus Proxy” in the subject line
for easy identification.
Mail: If mailing from New Zealand please use the
reply-paid envelope provided. If mailing from
outside New Zealand please affix the required
postage and address to:
MUFG Corporate Markets,
P.O. Box 91976,
Victoria Street West,
Auckland 1142,
New Zealand
Deliver: Deliver your completed proxy voting form to:
MUFG Corporate Markets,
Level 30, PwC Tower (Commercial Bay)
15 Customs Street West
Auckland
Ordinary Resolutions
Each of Resolutions 1 to 3 will be passed if approved by
ordinary resolution at the Annual Meeting. An ordinary
resolution means a resolution passed by a simple
majority of the votes of those Shareholders entitled to
vote and voting on the resolution.
Voting restrictions
All Shareholders are eligible to vote on each resolution.
Notice of Meeting
5

Munroe Lane, Auckland
Munroe Lane, Auckland
6

Munroe Lane, Auckland
7

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Virtual
Meeting
Guide
MUFG Corporate Markets
A division of MUFG Pension & Market Services

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Make sure your browser will work
by going to whatismybrowser.com
Supported browsers are:
• Chrome Version 44 and later
• Edge Version 92.0 and later
• Firefox Version 40.0.2 and later
• Safari MacOS 10.9 and later
Check your browser

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
You will need one of the
following to vote
If you’re an investor, you can find your
CSN/Holder Number on most investor
communications from us.
If you’re a proxy, your proxy number will be
sent to your email address one to two days
before the meeting.
Get ready to vote
A
Your CSN/
Holder Number
if you are an
investor
B
Your proxy
number if you
are an appointed
proxy
OR

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Open your browser and go to
www.virtualmeeting.co.nz
Choose the meeting you want to watch from
the list and click the View Meeting button.
Register using your full name, mobile number,
email address, and participant type.
Read and accept the terms and conditions
before clicking on the Register and Watch
Meeting button.
Register for the meeting

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
The webcast will start by itself
when the meeting begins
If the webcast doesn’t start, press the play
button and check the volume on your device
is turned up. The meeting slides will be cycled
through while the webcast plays.
At the bottom are buttons for Get a Voting
Card, Ask a Question and a list of documents
available for download.
Watch the meeting

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Register to vote by clicking on
the Get a Voting Card button
If you’re an investor, you will need to enter
your CSN/Holder Number.
If you’re an appointed proxy, you will need to
enter the proxy number in the Proxy Details
section, then click the Submit Details and
Vote button.
Get a voting card

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Once you have your voting card,
tell us how you want to vote
You may need to use the scroll bar on the right
side of the voting card to see all resolutions.
Choose either Full Vote or Partial Vote using
the tabs. Click on either the For, Against, or
Abstain voting buttons. For a Partial Vote,
enter a number of votes—the total number of
votes you have are shown.
Enter your vote

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Make sure you submit your vote
before the countdown timer
ends
Once you have finished voting, scroll down
to the bottom of the box and click on the
Submit Vote or Submit Partial Vote button.
You can close your voting card without
submitting your vote while voting is open.
Any votes you have already made are saved.
The voting card will be under the webcast
with a Not yet submitted message below.
You can edit your votes while voting is open
by clicking on Edit Card. This will re-open the
voting card with any previous votes made.
At the end of the meeting, a red bar with a
five-minute countdown timer will appear at
the top of the website advising the remaining
time to submit your voting cards. Once voting
has been closed, your vote can’t be changed.
Submit your vote

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Only investors, proxies and
corporate representatives can
ask questions
If you have not registered a voting card,
you will be asked to enter your CSN/Holder
Number or proxy number before you can ask
a question.
Click on the Ask a Question button either at
the top or bottom of the page.
Ask a question

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Select the category or resolution
for your question
Type your question in the Question box, and click
on the Submit Question button.
After submitting, click the View Questions button
to see your questions (only visible to you).
If your question has been answered and you want
to reply, submit another question.
Submit a question/reply

Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services
Title
Description
Body
Level 30, PwC Tower, 15 Customs Street West, Auckland 1010 | 0800 200 220 | meetings@linkgroup.com
MUFG Corporate Markets
A division of MUFG Pension & Market Services