The Land and Buildings of the Perth Market Site were independently valued in June 2022 by CBRE at $250 million. The financial statements reflect the revaluation of “Investment Property” to $250 million at 30 June 2022 from $189 million at 30 June 2021. The revaluation gain of $58.214 million is unrealised and noncash. The vacancy rate at the Perth Markets Site at 30 June 2022 was 0.82% (2021: 0.9%). Capital works undertaken in the financial year included bitumen resurfacing, roof upgrades and replacements (Central Trading Area, Eastern Warehouses), the installation of a wet fire suppression system for the SE1 warehouse. Sustaining capital investment planned for the 2023 financial year will see further road resurfacing, the installation of a wet fire suppression system for the SE2 warehouse. Additionally, the Group is investigating renewable energy (solar) as a potential energy efficiency initiative. The feasibility study on solar is expected to be completed in the first half of the 2023 financial year. . Dividends Dividends paid to shareholders during the year were as follows: Paying Entity Payment Rate 2022 2021 PMGL – (December 2021 Interim Dividend for FY2021/22) PMGL – (Final dividend for FY 2020/21) 3.4 c/ share fully franked @30.0% Paid on March 2022 3.48 c/ share fully franked @ 30.0% Paid on October 2021 $2,000,564 Nil Nil $2,047,637 Significant Changes in the State of Affairs There were no other significant changes in the state of affairs of the Group during the financial year that are not otherwise disclosed in this report. Events Since the End of the Financial Year The COVID-19 pandemic (globally and within Australia) continues to provide a level of uncertainty that remains beyond the control of PMGL. The Group remains focused on managing the Perth Markets site, in conjunction with its tenants, in a way that minimises the risks associated with the spread of COVID-19 across the operations of the Perth Markets site. Other than the above, there has been no matter or circumstance occurring subsequent to the end of the financial year that has significantly affected or may significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years. 16
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