Change of SIML-Appointed Director

Investore Property Limited (Investore) announces that it has been notified by Stride Investment Management Limited (SIML) that Director John Harvey, who is a SIML-appointed Director to the Investore Board, will retire with effect from 31 May 2022. In connection with John Harvey’s retirement, SIML has notified Investore that it is appointing Director Ross Buckley to the Board of Investore effective from 1 June 2022, following John Harvey’s retirement.

In accordance with clause 20.5 of Investore’s constitution, SIML has the right to appoint two directors to the Investore Board. This appointment right is permitted by waivers from NZX Listing Rules 2.2 to 2.8 granted to Investore to enable SIML to appoint two directors, to ensure that SIML has influence over the strategic direction of Investore, consistent with its appointment as manager of Investore.

In accordance with the waiver granted from NZX Listing Rules 2.2 to 2.8, Director Ross Buckley does not have to stand for election at the next Annual Shareholder Meeting and will remain on the Board of Investore until he is removed by SIML. The Board has determined that Director Ross Buckley is not an “Independent Director” as defined by the NZX Listing Rules due to being a SIML-appointed director.

Ross was a partner at KPMG for 26 years, and was most recently Executive Chair of KPMG for nearly 10 years. Ross retired from the KPMG partnership in October 2020 to pursue a governance career and is currently an independent director of ASB Bank, independent Chair of Service Foods Limited, Massey University - Council member, a member of the Audit Oversight Committee of the Financial Markets Authority, and National Council member and Chair of the Auckland Branch of the Institute of Directors.

Chairman Mike Allen commented “Investore wishes to thank John Harvey for his valuable support and guidance, from Investore’s inception as a listed company to the business it is today with a $1.2 billion portfolio of quality, large format retail properties. We wish John well in his retirement. We are also very pleased to welcome Ross to the Investore Board. His strong background in audit, management and finance, including his 10 year tenure as the Executive Chair of KPMG, will complement the current Board skillset.”

Ends

For further information please contact:

Mike Allen, Chairman, Investore Property Limited
Mobile: 021 606 134 - Email: [email protected]

Philip Littlewood, Chief Executive Officer, Stride Investment Management Limited as manager of Investore
Mobile: 021 230 3026 - Email: [email protected]

Fabio Pagano, Fund Manager, Stride Investment Management Limited as manager of Investore
Mobile: 027 406 6079 - Email: [email protected]

Jennifer Whooley, Chief Financial Officer, Stride Investment Management Limited as manager of Investore
Mobile: 021 536 406 - Email: [email protected]

Louise Hill, General Manager Corporate Services, Stride Investment Management Limited as manager of Investore
Mobile: 0275 580 033- Email: [email protected]

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Announcement PDF