Abacus Property Group – Annual Financial Report 2018

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DIRECTORS’ REPORT 30 June 2018 ABACUS PROPERTY GROUP ENVIRONMENTAL REGULATION AND PERFORMANCE The Group is subject to significant environmental regulation in respect of its property activities. Adequate systems are in place for the management of the Group’s environmental responsibilities and compliance with the various licence requirements and regulations. No material breaches of requirements or any environmental issues have been identified during the year. The Group is a core plus investor, not a builder of new buildings. The Group endeavours to choose sustainable options whenever that is a cost-effective outcome. AUDITORS INDEPENDENCE DECLARATION We have obtained an independence declaration from our auditor, Ernst & Young, and such declaration is shown on page 34. NOTIFICATION OF AUDITOR ROTATION REQUIREMENTS On 24 April 2018 the board of directors approved the extension of the Lead Audit Partner rotation period for one year in accordance with section 324DAB of the Corporations Act 2001 and of the Corporations Legislative Amendment (Audit Enhancement) Act 2012. The decision was based on the directors determining that the extension provided consistency in the audit process during the change in the Group’s Managing Director. The directors believe that this enhanced the overall quality of the Group’s audit and the extension does not give rise to a conflict of interest. ROUNDING The amounts contained in this report and in the half-year financial report have been rounded to the nearest $1,000 (where rounding is applicable) under the option available to the group under ASIC Corporations Instrument 2016/191. The group is an entity to which the instrument applies. 18
DIRECTORS’ REPORT 30 June 2018 ABACUS PROPERTY GROUP REMUNERATION REPORT (audited) This Remuneration Report describes Abacus’ remuneration arrangements for directors and executives in accordance with the requirements of the Corporations Act and Regulations. Key terms used in this report are defined in the glossary at Table 15. This report contains details of the remuneration of the following key management personnel (KMPs) (i) Non-executive Directors J. Thame Chairman W. Bartlett Director M. Irving Director (retired on 14 November 2017) J. Qian Director (appointed on 26 September 2017) M. Salkinder Director P. Spira Director (ii) Executive Director S. Sewell Managing Director (appointed as KMP on 3 October 2017 and Managing Director on 18 April 2018) F. Wolf Managing Director (died on 18 April 2018) (iii) Executives R. Baulderstone Chief Financial Officer C. Laird Director Property Development P. Strain Director Property Investments Board oversight of remuneration Nomination & Remuneration Committee The Nomination & Remuneration Committee is responsible for making recommendations to the Board on the remuneration arrangements for the non-executive directors and executives. Further details about the Committee’s membership and functions are contained in the Corporate Governance Report. 19
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Abacus Property Group Level 34 Aust
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Abacus Property Group – Annual Financial Report 2018

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