Hello, and thank you for your attendance today. My name is Natalie Kwok, and I'm the Company Secretary at Ingenia Communities. In light of COVID restriction guidelines, this year's AGM is again being run as a virtual event. We are using the online platform provided by Link Market Services for the meeting, which enables security holders to view the meeting, vote, and submit questions during the meeting. To vote on the resolutions, please click on the Get a Voting Card button shown on the top right-hand side of your screen.
You will then be asked to register, which will enable you to vote at any time during the meeting. If you are a security holder, you'll need your security holder number and postcode to register your vote.
If you are a proxy holder, please enter the proxy number issued to you by Link Market Services in the proxy details section and click the Submit Details & Vote button. Voting will close five minutes after the meeting closes, and the results will be released to the ASX later today.
If you have any questions to be put to the meeting, we suggest that you submit your questions with reference to what the question is about, whether it be general business or specific resolution, and these will be addressed at the appropriate time during the meeting. If you wish to ask questions over the phone, please call 1800 434 064 and enter the PIN number you were provided by Link, as noted in the information provided with the notice of meeting.
While it may not be possible to respond to all questions during the meeting, we'll endeavor to directly respond to any questions we don't get to as soon as practical after the meeting closes. We may look to aggregate questions if we receive multiple questions on the same topic. I will now hand over to Ingenia's Chairman, Jim Hazel.
Thank you, Natalie. My name is Jim Hazel, and I'm the chairman of the group, also appointed by Ingenia Communities RE Limited to act as chairman of the meetings. On behalf of the board and management, I welcome you to Ingenia Communities Group's second virtual annual general meeting. I should say that it's a pity this meeting is virtual as was last year's, and hopefully it'll be the last because it's not the ideal way for security holders and board and management to talk together.
I'd also like to acknowledge the traditional custodians of the lands on which we are present today all over Australia. I acknowledge their elders past and present and welcome any First Nations people joining our meeting today.
We should also reflect on the fact that today's Remembrance Day, which is why we're a couple of minutes late to start because we were having a minute's silence here in Adelaide, where it was 11 o'clock, and remember those who served and their families. I've been informed that a quorum is present, and I'm pleased to declare the meeting open. I confirm that voting on items 2 to 4 is now open via the online platform as Natalie described.
There are three components to today's meeting. Firstly, I'll provide you with an update of the group's recent performance and reflect briefly on the last 12 months. This will be followed by a presentation by our CEO, Simon Owen. Then we will progress to the formal business of the meeting, where the resolutions provided in the notice of meetings will be put to security holders.
I encourage you to vote at or in advance of each resolution to ensure you have sufficient time to complete your vote during the meeting. We will allow time for questions and answers regarding the resolutions before proceeding to the vote on the resolutions. Joining me here today, both in person and virtually, are your Board. Simon Owen, our CEO and Managing Director. Rob Morrison, who's a non-executive director, Deputy Chairman of the Group, Chairman of the Investment Committee, and a member of the Remuneration and Nomination Committee.
Amanda Heyworth, who's with me here in Adelaide, is a non-executive director and Chair of the Remuneration and Nomination Committee. Pippa Downes is in Sydney, a non-executive director. Pippa is Chair of Audit and Risk Committee and is a member of the Investment Committee.
Greg Hayes is also in Sydney this morning, a non-executive director, who is a member of the Audit and Risk Committee and a member of the Investment Committee. Sally Evans, a non-executive director, who's also in Sydney today, who is a member of the Audit and Risk Committee, a member of the Remuneration and Nomination Committee. Sally joined the board in December last year, and you'll have a chance to hear from her later in the meeting.
Unfortunately, Gary Shiffman and his alternate, John McLaren, are in Detroit or other parts of the U.S. and are unable to join us today. It's time for them to sleep. Also present are Natalie Kwok, Company Secretary, and Scott Noble, Chief Financial Officer of the group, as well as other members of the Ingenia team.
We also have representatives of the company's share registrar, Link Market Services, the group's external auditors, Ernst & Young, particularly, Yvonne Barnacle, who's our signing partner, and our lawyers, HWL Ebsworth, represented by Paul Brown and others joining us. Ladies and gentlemen, on behalf of the board and management, I welcome you to Ingenia Communities Group's second virtual annual general meeting. As I said earlier, I had hoped that this meeting would be in person this year. This has not been possible, but hopefully, this is our last virtual meeting.
Before I introduce the resolutions before the meeting and speak about the group's recent performance, I would like to reflect briefly on the last twelve months. Since our virtual meeting last year, the challenges of the COVID pandemic have persisted.
As a board, we've continued to work with management and to oversee the group's response, seeking to limit the impact on the business in the short term while remaining focused on future opportunities. Over the course of financial year 2021 and through the first months of this financial year, our teams have been faced with the challenges of working remotely and have responded to the impact of changing government restrictions on our operations.
Throughout this period, they continued their focus on providing care and support to residents and ensuring the health and wellbeing of our communities. The board and I are proud of the way the Ingenia team has risen to these challenges, we'd like to acknowledge their enormous contribution to position the businesses in today.
While we are seeing an increasingly rapid wind back of restrictions as vaccination rates increase, what living with COVID-19 will look like remains unclear and is a challenge we face well into the future. With this backdrop in mind, I would like to turn to the group's financial year 2021 performance. We entered the year with a strong balance sheet, a clear strategy, and a purpose-driven culture. This allowed the business to respond to challenges and opportunities as they arose.
With our holiday parks impacted by government-mandated closures at the start of the year, it was pleasing to see momentum build in the business as restrictions eased. The year's result benefited from the stable rent base that has been built up over many years, strategic acquisitions which expanded the portfolio, and strong results from the holidays and developed businesses as restrictions eased.
A total of AUD 215 million of acquisitions were completed over the year, adding 1,800 income-producing sites and contributing to cash flow growth. Revenue is up 21% and EBIT increased 31% on the prior year. Reflecting the impact of additional securities on issue, underlying profit per security was up 7%, supporting an increase in distribution per security of 5% to AUD 0.105.
We realize the importance of distribution growth to many of our security holders, and we'll continue to balance distribution with capital needs. The security price grew from AUD 4.43 on July 1, 2020 to AUD 6.51 at the end of October. This growth contributed to our outperformance against relevant indices over the 1-, 3-, 5-, and 10-year period to September 3.
We retained our focus on sustainable business growth over the year, and I was very pleased to see the progress encapsulated in our first standalone Sustainability Report. A major milestone was the establishment of a AUD 75 million finance facility from the Clean Energy Finance Corporation in February 2021, and our commitment to achieving a carbon neutral operation in 2035, as well as a 30% reduction in our scope one and scope two emissions over the next five years. Our solar and LED rollout and focus on achieving carbon neutral outcomes for new developments support this objective.
While there is much more to do, we currently have some exciting initiatives underway across the business that support the goal of reducing our environmental footprint. Our commitment to creating community and providing high-quality, community-based living remains core to our purpose.
past year has again demonstrated the attractiveness of our communities to seniors, allowing them to be connected within their communities despite social distancing and travel restrictions. We were proud to, once again, be ranked number two for women in executive leadership team roles in the 2021 Chief Executive Women Senior Executive Census, a pleasing acknowledgement of our ongoing commitment to gender equality across the business.
We remain focused on the impact we have on our communities and their environments as we expand our reporting and embed a focus on sustainability within the business. Over the last year, we have continued to build a leading presence in the lifestyle sector and have benefited from our established position in a market that has experienced strong competitor interest and growing investment and community focus.
The recent announcement of a further AUD 550 million in secured acquisitions is evidence of the benefit we derive from a dedicated team, a well-known brand, and a long-established presence in this market. The equity raising announced on November 1st to partially fund these acquisitions allows all eligible investors to participate in this growth on equal terms. On November 1st, we also provided guidance for 2021, 2022.
This guidance takes into account the material impact of government restrictions on our holiday parks in New South Wales and Victoria. These have been constrained in their operations for 4 months of this financial year and is subject to no changes in market or operating conditions. With an easing of travel restrictions, we are seeing strong forward demand in our holiday parks business.
We have a record number of deposits and contracts for new homes in place, as well as a growing portfolio to support full year 2022 returns. The resilience of the business through unprecedented conditions has been demonstrated over full year 2021, and our strategy remains intact. We are seeing support for the desire to downsize through rising home prices, movement out of cities to coastal and regional areas, and the attractive lifestyle that our communities provide. Our holiday parks are benefiting as our target market remains attracted to low-risk domestic travel.
The expansion of our portfolio ensures we are well-placed to cater to these needs. Our management team, led by Simon Owen, is continuing to execute on our strategy and, as always, to prioritize the health and safety of our residents, guests, and team. Simon will speak more about our performance and outlook shortly.
Turning now to the resolutions for today's meeting. Resolutions 3.1 and 3.2 relate to the election of directors. As our strategy has progressed and the business has grown, the board has evolved to ensure that it meets the current and future needs of the group. This will continue. In accordance with the requirement of the company's constitution, I will be seeking re-election today.
When that proposal is tabled, I will step aside as the chairman of the meeting and will welcome Rob Morrison, our deputy chairman, to chair at that time. In December 2020, Sally Evans was appointed to the board. Sally is also seeking re-election today. Or in Sally's case, endorsement of her appointment. Items 2 and 4 relate to remuneration.
The board recognizes the importance of aligning the remuneration outcomes to business performance and long-term value creation for security holders and consider the remuneration outcomes outlined in this year's REM report appropriately represent both business performance and stakeholder experience. The remuneration framework and the resolutions before you today reflects this ongoing focus, and the proposed changes support this goal.
As a board, we will continue to monitor our framework and to ensure it meets the business' needs and aligns with stakeholders' expectations. In closing, I would like to assure all security holders of our commitment to navigate the challenges of the present while maintaining a focus on future prosperity. Before I move to Simon's address, I'd like to thank my fellow directors for their dedication and commitment over the past year, and to all investors for their support.
I'll now hand over to Simon Owen, your CEO and Managing Director, for his update.
Thank you, Jim. Good morning, everyone, and thank you for your attendance today. I'm very pleased to be providing an update on some recent events, as well as presenting the strong result delivered in financial year 2021. Like the situation for many businesses, the past 20 months has been an incredibly challenging and eventful period for Ingenia, and one which has demonstrated the inherent value and resilience of the platform that has been built over the past decade and the attractiveness of the sectors which we have focused our growth in.
Turning briefly to the financial year 2021 result, Ingenia delivered record performance in that year with growth across all key metrics, despite the impacts of COVID-19. Revenue grew by 21% to AUD 295.6 million, and cash flow was up 105% to AUD 137.6 million.
Underlying profit increased by 31% on the prior year, and underlying earnings per security increased by 7% to AUD 0.236 per security. These results were underpinned by the stability of cash flows from our residential communities, the growth in our asset base, and new home sales, and strong demand for domestic travel as restrictions eased into the second quarter of the year, and the performance of our holiday parks rebounded strongly.
Over the year, we delivered a record number of new home settlements, with 380 homes completed and sold as the business benefited from migration away from the cities and the attractiveness of community living to many downsizers. Completing Latitude One, our first greenfield project, was a significant milestone for Ingenia. This 270-home community includes resort-style facilities and is now home to 460 residents.
Over the course of the year, the group completed acquisitions totaling AUD 215 million, increasing investment in established lifestyle and holiday communities and building our capacity for growth through future development. We closed the year with 13,000 yielding homes, cabins and sites that we own or manage, and a development pipeline with the potential for over 4,200 additional homes.
Last Monday, we announced AUD 552 million of acquisitions and a AUD 475 million equity raising. These acquisitions include two quality portfolios and support our strategy to continue to access high-quality communities and developments and our aspiration to be the clear leader in the lifestyle community sector. Over AUD 440 million of the acquisitions are already contracted, with the remaining amount under offer or in due diligence.
Combined, they add 20 communities and developments to Ingenia's portfolio and build capacity for significant future growth. The AUD 270 million SeaChange portfolio will add 6 lifestyle communities to the portfolio, with almost 700 occupied homes and a further 548 potential development sites, as well as an established operating and development platform in Southeast Queensland.
The additional development pipeline and capacity this transaction brings to the group will assist us as we seek to increase our development volumes and deliver a cumulative total of 1,800-2,000 new home settlements over the next three years. We are also looking forward to welcoming 34 team members of the SeaChange business to Ingenia, providing additional key capabilities across development, sales and marketing, operations, and finance.
Caravan Parks of Australia comprises seven mixed-use communities across Melbourne, regional Victoria, and on the border with New South Wales, and will add more than 1,400 income-producing sites to Ingenia's portfolio. BIG4 Beacon Resort is one of the most iconic holiday parks in Australia and is located on the Bellarine Peninsula, near Geelong. We announced this week that we plan to settle on this community later in the month, allowing us to benefit from the peak Christmas holiday period.
This acquisition continues our expansion in Victoria, where we now will have eight holiday parks, the biggest portfolio in Victoria. Combined with a further five lifestyle development and established communities and an additional holiday park in New South Wales, these acquisitions together materially increase the group's exposure to our target sectors and markets.
On completion of these acquisitions, the group will have more than 15,000 income-producing homes, cabins, and sites, and a development pipeline of over 6,200 potential home sites. This provides strong support for the delivery of returns to investors over financial year 2022, and combined with greater visibility for our tourism assets, has allowed us to provide guidance as we have seen operating conditions stabilize and improve.
Restrictions relating to COVID-19 led to closures in our holiday parks from the end of June, which have only recently eased. While booking demand has surged since, approximately AUD 10 million of revenue from the holidays business has been lost year to date.
Revenue holdings per park through to June 2022 are up 26% compared to last year, supporting our view that the rebound in holidays performance will be strong, as it was when the market reopened last year. Restrictions have also constrained construction in our two Victorian development projects, and we, like many others, are continuing to monitor supply and costs to ensure that we can meet the growing demand for homes in our communities.
Year to date, we have settled 86 homes, and we have a record number of deposits and contracts on hand, which supports our target of 475+ new home settlements this financial year. Size of the lifestyle communities market is continuing to grow and competition is increasing as we see new groups enter the market.
Fortunately, we are benefiting from a dedicated team, a strong reputation, and an established acquisitions pipeline, which is providing significant access to on and off-market deal flow, as I have outlined today. Demand in our rental communities is also high. Across our seniors rental communities, which is Ingenia Gardens, occupancy remains at new record levels of 95%. The demand for quality, affordable rental accommodation has resulted in high occupancy across our rental communities as new homes have been added and rapidly leased up.
Occupancy currently sits at 97% across this business. We are growing confidence in operating conditions and strong underlying demand for our core market segments. We are now forecasting growth in earnings before interest and tax of 20%-25% and underlying earnings per security growth of between 3% and 6% to FY 2022 relative to the prior financial year.
As noted by the Chairman in his address, ESG, environmental, social, and governance matters, are a large and growing focus of Ingenia. I'm very proud of the work we have done across the group in line with our focus on responsible business practices and creating community. A recognition of the important social benefits our business provides and the impacts we have on those within our communities led to many changes in our operating protocols and engagement practices over the past year as we responded to the challenges of COVID-19.
We invested a huge amount of effort and resources to keep our residents, staff, and guests safe. In periods where travel and visits from friends and family were not allowed, we provided greater connection within our communities, delivering meals to homes, organizing virtual and socially distanced events, and just checking in with our most vulnerable residents supported resident satisfaction and engagement.
We also implemented additional programs for staff, focusing on mental health and well-being. For our frontline teams, a one-off bonus provided additional recognition of their role in keeping our residents and guests safe and supported. The Ingenia Learning Academy was also launched, allowing flexible delivery of education and training.
Our partnership with Ronald McDonald House Charities Australia entered its fourth year, and we're pleased to complete the renovation of the bathrooms at the Randwick House. We engaged in a range of activities, including Dance for Sick Kids, Meals from the Heart, and knitting goods in support of this charity. We also supported a range of additional charities through our communities. Our approach to diversity is continuing to be recognized with a high proportion of women right across the business, from the teams in our parks to our executive team and the board.
Other milestones include the launch of our Supplier Code of Conduct and Modern Slavery Statement, reflecting our commitment to human rights and greater engagement with our supply chain. Over the past year, we have been focused on understanding the environmental impact of our communities, and in particular, playing our part in reducing carbon emissions. We gained a greater understanding of our emissions profile, continued to roll out initiatives in support of our goal of a carbon neutral operation in 2035, and commenced some new trial projects.
These included rolling out solar to another 41 communities and identifying the next stage rollout for our operating business, committing to target carbon neutral outcomes through the creation of new communities, preparing to construct our first green home under the Green Building Council of Australia's Pilot Homes program.
Trialing battery storage at our Hervey Bay development, including solar on new rental homes and installing our first eco-friendly cabins, which are called Mod Pods, at our Byron Bay holiday park. More information on our progress and future objectives can be found in our 2021 Sustainability Report, which is available on our website.
Ingenia is well-positioned for the future. We are excited about the prospects for the business as we capitalize on the opportunities provided by a growing desire for community living, migration from our cities, buoyant demand for domestic travel, and an expanded portfolio which extends our core lifestyle and holidays business.
We will continue to focus on our residents and guests, recruit and develop the best talent, seek continual improvements, and enhance the sustainability of our operations and new developments as we seek to deliver on our strategic and performance targets for financial year 2022 and into the future. As we have over the past year, we will continue to prioritize the well-being and safety of our residents, employees, and guests.
On behalf of the Ingenia team, I would like to thank all security holders for your support of the business as we seek to acquire, develop, and operate Australia's leading lifestyle, rental, and holiday communities. I would especially like to thank the Ingenia team of over 1,000 dedicated employees for their continuing commitment to performance and outstanding customer and resident experience.
I do look forward to working with them over the next year to integrate new acquisitions, build more communities, and continue to create community for our residents and guests. Finally, I would especially like to thank our directors, Jim, Amanda, Rob, Pippa, Sally, Gary, and John, for their support and guidance through the challenges of the past year. The management team takes great confidence in having such a committed, curious, and supportive board. Ladies and gentlemen, thank you for your time today and your continuing support of Ingenia.
Thanks, Simon. I'd also thank Greg. If I was you might not get a pay rise next year. I'd now like to open for general questions for the board and management. You'll have the opportunity to ask questions pertaining to each resolution when we get to the formal business of the meeting. You may submit questions by clicking on the Ask a Question button on your screen.
Type your question, then click Submit. You may also submit questions by telephone by clicking one to notify the operator you have a question. A reminder that this is a security holder meeting, and as such, only security holders are entitled to ask questions. We did not receive any questions to be addressed at the meeting, so I'll ask if there are any questions for the management or the board. Are there any questions online?
Yes, Mr. Chairman. We do have one question from Mr. Raymond Wheeler, and I'll read it out for you. Firstly, let me congratulate you on your excellent results for financial year 2020 to 2021. Your operating free cash flow has increased year after year. Good revenue growth of 21% and EPS growth of 13%. However, I ask, can you maintain these results with another competitor entering your type of business? Secondly, what is your policy on double vaccinations that will protect your staff and your members of your community?
Wouldn't it be lovely to operate in a market where there's no competition? What I can say is, Ingenia, in our chosen markets, have been in the business for nearly a decade, so a very early entrant, have developed considerable IP. The way in which we compete and the product we delivered has just changed a lot in 8 or 9 years. So we've developed quite a bit of IP. We've now got scale, a great management team, and in many measures, the leader in the markets in which we choose to operate.
On the other side of it, the demand for homes in our lifestyle business is very, very strong. I mean, we and some of our competitors have created certainly a new offering to seniors in Australia that will continue to, in my view, gain market share.
I think as Simon pointed out, we would expect, subject to COVID, and things we don't know about, very strong demand in our domestic tourism business over the near to medium term. All in all, I think we've got all of the things in place we need to have in place to compete strongly and continue to grow the business again, as Simon has said. On the question of vaccination, I mean, we clearly are subject to various state laws on vaccination.
I think all of our staff in our Gardens villages are double vaxxed. Simon, correct me if I'm wrong, but all of our staff in our Gardens villages are double vaxxed. Whilst we don't have any mandated position with our other staff, by far the majority have been vaccinated.
It is something the board monitors continually, and we take, obviously, like everybody else in the community right now, extremely seriously. Raymond, I hope that answers your questions. Do we have any more questions, Donna?
Yes, we have one more question. This is from Mr. John Parrott. Congratulations on the performance over the last few years. What is your dividend policy at present?
Well, I think as I said during my remarks, we understand the importance of distributions to particularly our retail shareholders. You know, interestingly enough, when we started on the journey nine years ago, we were encouraged by the institutions to retain capital to grow the business, but we have always paid distributions and grown distributions because we do understand that we do have a small but important retail shareholder base to whom distributions are important, and we will continue to reflect the importance of those shareholders in our distribution policy. Do you have any more questions, Donna?
There are no more questions online.
Just to remind you that there will be opportunities for questions on the individual resolutions as we go. Are there any questions on the telephone?
Thank you, Chairman. We have received no questions via the telephones.
Okay, we shall move to the formal business of the meeting. I've been informed that the notice of meetings was lodged with the ASX and made available on our website within the notice period required. I now table a notice of meetings, and unless there are any objections, I will take the notice convening the meetings as read. A reminder that we are holding the annual general meeting of Ingenia Communities Holdings Limited and the general meetings of Ingenia Communities Management Trust and Ingenia Communities Fund simultaneously.
As noted at the start of the meeting, for those security holders participating in the meeting through the online platform, the polls are open to enable security holders and proxy holders to vote by clicking on the Get a voting card button on your screen. Voting for the meeting will be decided on a poll, which I now declare open.
This means that each Ingenia Communities security holder present in person or by proxy has one vote for each security they hold. The results of the meeting will be announced to the ASX shortly after the closure of the meeting. In accordance with the notice of meeting and the electronic voting form, for instances where I, as Chairman, have been appointed as a proxy, but not directed how to vote, I will vote in favor of all resolutions. I've been advised that all proxies received have been checked, and I declare them valid for voting at this meeting.
I will disclose proxy votes on the screen prior to a vote being taken for each item. These figures will be as at the closing time for receipt of proxies, which is 11:30 A.M. Sydney time on Tuesday, ninth of November.
There are a number of voting exclusions that apply to the resolutions being put to today's meeting. These were outlined in the notice of meetings. Item one, which is Ingenia Communities Group financial statements and reports. The first item of business is to receive and consider the financial report, the directors' report, and the auditors' report of the group for the year ended 30th of June 2021. There's no formal resolution required for this item, but I invite questions and comments.
Are there any questions or comments on the financial report or the reports of the directors and auditors? Are there any questions or comments on the management of the company? Donna?
We have no questions on either of those items.
Operator, are there any questions received on the telephone?
Chairman, we have received no questions via the telephone.
Are there any questions of the auditor which are relevant to the conduct of the audit, the preparation and content of the auditor's report, the accounting policies adopted by the company in relation to the preparation of the financial statements, or the independence of the auditor in relation to the conduct of the audit? Donna, do we have any questions?
There are no questions.
None from the operator?
Thank you, Chairman. There are no questions via the phones.
I now move to a vote on the remuneration report and put the resolution to the meeting to adopt the remuneration report for the year ended 30th of June, 2021. Voting proxy stats on this resolution are shown on the screen. Are there any questions?
There are no questions on this item.
From the operator?
Thank you. We have received no questions via the telephone.
None online?
No, there are no questions online.
The next item of business relates to my re-election, and for the item, I will pass you to Mr. Rob Morrison, the company's Deputy Chairman, to chair the next section of the meeting.
Well, thank you, Jim. The next item of business is the re-election of Mr. James Hazel as Director. I now put the resolution to the meeting. That Mr. James Hazel, being a director who is retiring in accordance with Clause 74.1 and 74.4 of the company's constitution, and Listing Rule 14.4, and being eligible, be re-elected as a director of the company. Before I open this item up for discussion, I'll ask Jim to say a few words about himself.
Thanks, Rob. Doesn't seem long ago, but it was 2012 that Ingenia Group was born out of the ING Real Estate Community Living Fund, where Simon was the Chief Executive, and I became the inaugural Chairman. We embarked on what was then a unique strategy of developing and owning lifestyle seniors communities and tourism.
It's been quite a journey that has taken us to the ASX 200 with a further exciting period ahead, in my view. I'd like to continue to make a contribution to the future whilst acknowledging, of course, that I'm closer to the finish than the start. I think my experience in seniors living, financial markets, and business generally has been and will continue to be helpful. I ask shareholders to support my re-election as one of their representatives for the following period.
Well, thank you, Jim. Voting proxy statistics on the resolutions are shown on the screen. Are there any questions?
We don't have any questions online. Thank you.
Operator, are there any questions received by the telephone?
Thank you. We have received no questions via the telephone.
Are there any further questions online?
No, there are no questions received online.
I'll now pass you back to Chairman Jim Hazel.
Thanks, Rob. I'll now turn to item 3.2, which relates to the election of Ms. Sally Evans as a director of the company. I'll now put the resolution to the meeting that Ms. Sally Evans, being a director who was appointed by the directors on the first of December 2020, and whose appointment as a director expires at the conclusion of the AGM of the company in accordance with Clause 73.2 of the company's constitution and Listing Rule 14.4, and being eligible, offers herself for re-election, be elected as a director of the company.
Before I open this item for discussion, I'll ask Sally to say a few words about herself.
Thank you, Chair. Thank you for the opportunity to put myself forward for election as a non-executive director of Ingenia Communities. I've had the opportunity over the last 11 months to get to know the executive team, the current board members, and some of the extraordinary managers and frontline staff that work tirelessly to ensure guests and residents experience Australia's best lifestyle and holiday communities.
The universal commitment to delivering on this vision is the reason I wish to put myself forward for election and contribute to the development and growth of this terrific business. It has been particularly insightful to see the board and management in action responding to the challenges of the COVID pandemic while continuing to deliver the commitments to growth and sustainability. My career has spanned a range of regulated services from health, retirement, and aged care services to investment and wealth management.
If elected, it would be a privilege to work with the board and management to deliver the Ingenia Communities strategy. Thank you.
Thanks, Sally. I should say that the board fully support Sally for election. Are there any questions on the matter? The voting proxy stats are on the screen about now.
Chairman, there are no questions online.
The operator?
Thank you, Chairman. We have received no questions via the telephone.
Thank you. We move to item 4, the grant of FY 2022 fixed remuneration rights, short-term incentive plan rights, and long-term incentive plan rights to Mr. Simon Owen.
I put the following resolution to the meeting that for the purposes of ASX Listing Rule 10.14 and for all other purposes, security holders approve the grant by the company to Mr. Simon Owen of rights in respect of fixed remuneration, short-term incentive, and long-term incentive, calculated as outlined in the explanatory notes, and the issue of stapled securities upon the vesting and exercise of those rights under the Ingenia Communities Group's rights plan and on the terms and conditions set out in the explanatory notes. Voting proxy stats on this resolution are shown on the screen. Are there any questions? Donna?
There are no questions. Thank you.
Operator?
Thank you. We have received no questions via the telephone.
Online?
No, no, there are no questions online. Thank you.
Thank you. Ladies and gentlemen, it's now come to the end of the meeting. Security holders participating via the online platform should now submit their votes. Please note the voting system will close five minutes after I formally close the meeting. I'd like to take this chance to thank my fellow directors, Simon and his management team, for their due diligence and commitment to this business.
I would also like to thank security holders, old and new, for your continued support and for your attendance today. I look forward to our next AGM being face to face, COVID willing. I formally now close the meeting. Thank you.