Site Master Plan Strategically, the Board has focused on the future development of the Perth Markets site with the engagement of DWP Architects to assist in the Master Planning process. The recent annual revaluation of the site demonstrated the value in the landholding with an increase of 32% to $250 Million for the 12-month period. There are a number of opportunities being considered for the site primarily around the vacant 10 hectares, infilling existing site to increase density and life cycle replacement for major assets including buildings. The Masterplan will be completed by the end of 2022 and will define the next 20 years of the Perth Markets site. Above: PMGL vacant land on short term lease to Metronet. Left: Road resurfacing works 2022 BML Notice of Intent In March 2022 Brisbane Markets formally notified PMGL that it wishes to increase it’s shareholding to a majority 51% of PMGL’s issued capital over the next 18 to 24 months. The Board has been seeking clarity regarding BML’s future intentions for PMGL since March 2022 and continues to do so to ensure all Board decisions support the best interests of all PMGL shareholders. On 7 October, Perth Markets Group Limited received a Notice of Intention from Brisbane Markets Limited (BML) to make a Proportional Takeover Bid to acquire 65% of each shareholder’s shares in PMGL. A planned Informal Shareholder Meeting was deferred and PMGL shareholders were advised to take no action pending receipt of the Bidder’s Statement. SUBSEQUENT EVENTS Subsequent to the end of the financial year, Ms. Clarinda Ho stepped down as CFO/Company Secretary on 30 August. Mr. Quentin Hooper was appointed CFO/ Company Secretary on 27 September. Mr. Peter Cooper stepped down as CEO of PMGL on 14 October 2022. A recruitment process for a new CEO commenced and the Board expects to announce the CEO replacement at the Annual General Meeting in November 2022. The Board thanks Clarinda and Peter for their service to PMGL and we wish them all the best in their future endeavours. On 7 July 2022, the Board of Directors approved the terms of Reference for the establishment of the Corporate Transaction Sub-Committee. This Board Committee’s primary function is to review, manage and recommend to the Board corporate actions with respect to any proposed share transfers in PMGL On 30 August 2022, the Board of Directors declared a final dividend for the 2022 Financial Year of 3.5c/ share fully franked. The dividend was paid to shareholders on 19 October 2022. 12
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