GMT Governance Changes Implemented | New Zealand
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GMT Governance Changes Implemented

Tuesday, 5 August 2014

Goodman (NZ) Ltd, the Manager of Goodman Property Trust, has confirmed that the Trust Deed amendments required to facilitate the governance changes announced on 14 May 2014 have been implemented.

Unitholder nomination and voting on Independent Directors of the Manager will now occur, with the first annual election scheduled for 2015.  Details of the process for nomination of Directors and the voting is set out in the supplemental trust deed included with this announcement.

The supplemental deed has been approved by the Trustee, Corporate Trust Limited.

About Goodman Property Trust: 

GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of  around $1.3 billion, ranking it in the top 15 of all listed investment vehicles. The Manager of the Trust is a subsidiary of the ASX listed Goodman Group, Goodman Group are also the Trust’s largest investor with a cornerstone unitholding of 17.6%. GMT is New Zealand’s leading industrial and business space provider. It has a substantial property portfolio with a value in excess of $2.0 billion that accommodates around 260 customers.  The Trust holds an investment grade credit rating of 
BBB from Standard & Poor’s.