Ethical Property's 2019 AGM from Managing Director Conrad Peberdy
When I first entered an Ethical Property Centre 17 years ago as a tenant I immediately saw the value of Ethical Property’s offer, however I didn’t know that one day I would be attending an AGM as the MD.
Which is what happened on the 21st March 2019 at The Green House, an AGM that saw three highly talented new directors elected to the board, and a fond farewell to David Loggia who is returning to Australia. Shareholders also approved a dividend of 3.5 pence per share, up from 3 pence last year.
A very busy day started with two workshops, one looking at how we can increase our social impact, and the other exploring ways that we can safeguard our social mission on the long term. Both were really well attended. Shareholders gave their views on the type of centres we should develop, where they should be situated and the social outcomes we should be looking to deliver. We also explored making the board of directors more accountable to the shareholders for the Quintessentials, the five essential principles that underpin our social mission.
It’s good to know that so many of our shareholders hold true our values and want to ensure they are protected for our future.
In the main AGM session, we gave presentations on our performance over the past year, and our strategy for the next five years to increase both our social impact and our dividend and share price, through annual share offers and accompanying buy backs of shares, starting in April 2020.
Our guest speaker, Ben Reynolds from Sustain (one of The Green House tenants) spoke passionately about the food chain and how we can all ensure it becomes more ethical and sustainable. It was great to see just how much we had in common, including that staff are paid the minimum living wage, and that they recommend only providing vegetarian catering at events - which made the chatting over lunch all the more enjoyable! More information about Sustain and the work they do can be found here https://www.sustainweb.org/
Reflecting on the day I feel that there is a true determination to ensure our social mission is protected and that we can make an even bigger impact on supporting social change and providing space for many more tenants. These matters will be voted on at an EGM we plan to hold in the Autumn of this year. We look forward to seeing you there!