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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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