DNZ Property Fund looks to the future
DNZ Property Fund looks to the future with New Corporate Identity
In accordance with Listing Rule 10.6.1(f), we advise that the Directors resolved on 10 September 2015 to change the name of DNZ Property Fund Limited (DNZ) to “Stride Property Limited” (Stride), with effect from 25 September 2015. The application for change of name will be lodged at the Companies Office on 25 September 2015 and the company’s NZX ticker code will change from “DNZ” to“STR” on that date.
The move is the culmination of a number of changes within the company that have seen it become a leader in its sector, with over$950 million of diversified commercial property assets under management.
DNZ Chairman, Tim Storey, says the re-branding is a reflection of the confidence that the company has in its future and the approachthat it takes to managing and building its portfolio. He said that the new name more accurately demonstrates the essence of thecompany and its future direction in the property investment business.
“The company has been through a number of positive changes since listing, particularly over the past 18 months,” Mr Storey says. “Wehave refined our strategy with a renewed team and leadership and delivered strong results for our investors. Consequently, the marketperception of us has shifted.”
DNZ Chief Executive, Peter Alexander, highlights the connection between the company’s new approach to business and its rebrand.
“It’s important our identity represents who we are today and in the future, and that it epitomises our people, our culture, our places andperformance. We are a progressive company, forward focussed and confidently moving ahead. The name Stride communicates thatconfidence and reflects the deliberate and purposeful steps we are taking to deliver the best possible performance.
“With this new branding we will be better differentiated and visible to all of our stakeholders,” says Mr Alexander.
For the year ended 31 March 2015, the company announced an operating profit before other income and income tax of $39.6 million,an increase of 13.1% over the previous year, and an annual cash dividend of 10.25 cents per share, an increase of 13.9%.
“We are very pleased with the performance of the company to date,” Mr Alexander says. “The opening of the NorthWest ShoppingCentre on 1 October with 100% of the retail space leased, and the commencement of the NorthWest Two (previously referred to asWestgate Stage Two) development are very strong indicators of the company’s future strength.
“We believe Stride embodies the key characteristics of a company as robust and positive about the future as we are.”