Apr 26, 2016 - are hereby authorized to agree to their remuneration in respect of the period ending with the next Annual
TABLE OF
ANNUAL GENERAL MEETING
CONTENT
NOTICE IS HEREBY GIVEN that the 8th Annual General Meeting of KINGSTON PROPERTIES LIMITED will be held in the Leeward Suite at the Knutsford Court Hotel, 16 Chelsea Avenue, Kingston 5 in the parish of St. Andrew on Tuesday, May 17, 2016 at 10:30 a.m. for the following purposes:
MISSION, VISION STATEMENTS CORE VALUES & CULTURE 01
Summary of Financial Results
28
Risk Management
32
Strategic Focus
Communications with Shareholders
37
Corporate Social Responsibility
38
Summary
39
Corporate Structure
02 03
TABLE OF CONTENTS
04
Notice of Annual General Meeting
05
CHAIRMAN’S STATEMENT
6
The median sale price for existing condominiums increased by
Corporate Data 40 Director’s Report
INDEX TO FINANCIAL STATEMENTS
41
43
% 8.8 $205,000
2. Ratify Interim Dividend The Company is asked to consider and if thought fit, pass the following Resolution: Resolution 2: “THAT the interim dividend of US$0.00029 per share declared by the Board of Directors of the Company on March 12, 2015 and paid on April 8, 2015 be and is hereby declared as the final dividend for the year ended December 2015”. 3. Election of Directors (a) The Director retiring by rotation in accordance with Article 107 of the Company’s Article of Incorporation is Ms. Nicole Foga who being eligible for re-election offers herself for re-election.
Resolution 3: “THAT Nicole Foga, retiring by rotation, be and is hereby re-elected.”
Our Company 08 Corporate Objective
Resolution 1: “THAT the Audited Accounts for the Year Ended December 31, 2015 along with the reports of Directors and Auditors, circulated with notice convening the meeting, be and are hereby adopted.”
The Company is asked to consider and if thought fit, pass the following Resolution:
in 2015
to
1. Audited Accounts The Company is asked to consider and if thought fit, pass the following Resolution:
09
•Business Strategy 09
(b) Mr Michael Parker and Mrs Meghon Miller-Brown were appointed Directors of the Company on January 4, 2016. In accordance with Article105 of the Company’s Articles of Incorporation, their appointments expire on the date of the Annual General Meeting and being eligible, both offer themselves for election.
• Independent Auditors’ Report
44
• Group Statement of Comprehensive Income
45
• Group Statement of Profit or Loss and Other Comprehensive Income
The Company is asked to consider and if thought fit, pass the following Resolutions:
46
• Group Statement of Financial Position
47
(i) Resolution 4: “ THAT Director, Mr Michael Parker, retiring pursuant to Article 105 of the Company’s Articles of Incorporation, be and is hereby elected.”
• Group Statement of Changes in Equity
48
• Group Statement of Cash Flows
49 50
•Investment Management
10
•Property Management
11
Eight Year Financial Summary
12
Board of Directors
14
Corporate Governance
18
The Team
20
• Separate Statement of Profit or Loss and Other Comprehensive Income
Our Partners
22
• Separate Statement of Financial Position
51
Disclosure of Shareholdings
23
• Separate Statement of Changes In Equity
52
• Separate Statement of Cash Flows
53
• Notes to the Financial Statements
54
5. To transact any other ordinary business of the Company.
• Operating Expenses
88
By Order of the Board of Directors
Form of Proxy
89
Nicole Foga Company Secretary Registered Office: 7 Stanton Terrace, Kingston 6, Jamaica April 26, 2016
MANAGEMENT DISCUSSION & ANALYSIS:
4 | KINGSTON PROPERTIES LIMITED | ANNUAL REPORT | 2015
24-27
(ii) Resolution 5: “ THAT Director Mrs Meghon Miller-Brown, retiring pursuant to Article 105 of the Company’s Articles of Incorporation, be and is hereby elected.” 4. Appointment of Auditors and their Remuneration The Company is asked to consider and if thought fit, pass the following Resolution: Resolution 6: “THAT KPMG having signified their willingness to continue in office as Auditors, the Directors be and are hereby authorized to agree to their remuneration in respect of the period ending with the next Annual General Meeting.”
Note:
In accordance with the Schedule to the Articles of Incorporation, a shareholder is entitled to vote by proxy. A suitable Form of Proxy is enclosed. Forms of Proxy must be lodged at the Company’s registered office at least forty-eight hours before the time appointed for holding the meeting.
For more information: www.kpreit.com |
NOTICE OF 8TH
5
