Hello, and thank you for your attendance today. My name is Niu Nguyen, and I'm the company secretary at Ingenia Communities. In light of the COVID restriction guidelines, this year's AGM is being run as a virtual event. We are using the online platform provided by Linked Private 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 get a voting tab button shown on the top right hand side of the screen.
You then be asked to register, which will enable you to vote at any time during the meeting. If you are a security holder, you 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 detail section and click on the submit details and vote button. Voting will close 5 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 a specific resolution, and this will be addressed at the appropriate time during the meeting.
While it may not be possible to respond to all questions during the meeting, we will endeavor to directly respond to any questions we don't get to as soon as practicable after the meeting closes. I will now hand over to Ingenious Chairman, Jim Hazel.
Good morning. I'm talking to 34 different people in a most unusual situation, obviously COVID induced and it's very different for us not to be able to see each other, but I hope that you're able to participate in the meeting in the way that you wish as our unitholders and encourage you to ask questions if you wish. And as I said, all very different and hopefully next time we meet, we can be all in the same room. By way of introduction, my name is Jim Hazlin. I'm Chairman of the group, also appointed by Ann Junior Communities RE Limited to act as Chairman of the Meetings.
On behalf of the Board and management, I welcome you to Ingenia Community Group's first, hopefully last, virtual Annual General Meeting. I'd also like to acknowledge the traditional custodians of land on which we are present today and on which we operate across the country. I acknowledge our elders past and present and welcome any First Nations peoples joining our meeting today. 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 5 is now open via the online platform.
Hopefully, there's an agenda slide up. There are 3 components to today's meeting. Firstly, I'll provide you with an update on the group's recent performance and reflect briefly on the last 12 months. This will be followed by a presentation by your CEO, Simon Owen. We will then 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 the 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 vote on the resolutions. Joining me here today, both in person and virtually, are my colleagues: Simon Owen, our CEO and Managing Director Rob Morrison, who is on the line from Barwon Peninsula near Melbourne, where he's been locked up. Rob's Non Executive Director, Deputy Chairman, Chairman of the Investment Committee and a member of the Remuneration and Nominations Committee. The other directors that are in the room, Amanda Hayworth, who chairs the Remuneration and Nominations Committee and is a member of the Audit and Risk Committee Pippa Downs, who chairs the Audit and Risk Committee and is a member of the Investment Committee Greg Hayes, who is a member of the Audit and Risk Committee and a member of the Investment Committee Gary Shipman, who is Executive Chairman of Sun Communities in the U.
S, hasn't been able to join us today. Also present are Nhu Ni Yu Yin, our company secretary and Scott Noble, Chief Financial Officer of the group, as well as other members of the Injunior team. We also have representatives from the company's share register, Link Market Services, the group's external auditors, Ernst and Young and our lawyers, H. W. L.
Elbridgeworth, with us today. I'd also like to acknowledge Andrew McEvoy, who stepped down from the board in September this year. We're sorry to lose Andrew as he moved overseas to take up an exciting new role. Andrew had been on the board since December 'seventeen. Through his knowledge of the tourism of tourism, digital marketing and e commerce, Andrew made a valuable contribution to the group.
His knowledge, enthusiasm and counsel will be missed. On behalf of the Board, management and security holders, I'd like to thank him for his commitment to the group and wish him the best for the future. 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 12 months. None of us could have predicted the events of the last year and the challenges they posed. We are continuing to deal with a heightened sense of uncertainty, and the long term consequences of these events are yet not known.
Earlier this year, we rapidly moved from expectations of another year of record growth to face unprecedented challenges. The devastating bushfires of December January were soon followed by COVID-nineteen pandemic, which not only impacted our revenue streams, but the way we operate as a business. One demonstration is the fact that we're having this AGM virtually. We were fortunate to enter this crisis in a strong position and acted quickly and decisively to manage the impact on the business. Our strong culture, collective sense of purpose and our team's commitment to the health, safety and well-being of our residents and guests supported our efforts.
I would like to acknowledge the enormous contribution of the Ingenia team as we adapted to the ongoing change and uncertainty. We actively managed our cost base with close monitoring of capital expenditure and the board, head office and support staff taking temporary pay cuts. Our operations were modified to comply with health requirements issued by governments in response to the pandemic, which included closing our holiday parks and our community facilities. Assisted by JobKeeper, we're able to provide ongoing employment for staff across our holiday parks and to avoid stand downs and redundancies while the holiday parks were closed and home sales slowed, materially impacting revenue. The provision of additional support and equipment to our frontline teams and the adaption of resident programs during periods of isolation, or a focus to maintain resident well-being and engagement.
In May, we successfully raised GBP 178,000,000 in equity through a share security purchase plan and placement. I thank security holders for their support of this raising, which allowed us to further strengthen the balance sheet and, importantly, position Ingenia to access growth opportunities. I will now turn briefly to our FY 'twenty result. The FY 'twenty result benefited from the implementation of our strategy to build a stable rent base. Pleasingly, this result demonstrate the resilience of that base, with the revenue from our residential communities continuing uninterrupted.
In addition to the stable rents from the Lifestyle and Gardens communities, growth in rental sites via development and acquisition and cost management contributed to growth in key metrics, despite the loss of Holiday Park revenue and reduced home settlements. The group delivered increased revenue. EBIT was up 17% and the underlying profit per security increased 5% on FY 'nineteen. Underlying profit and distribution on a per security basis were impacted by the significant increase in securities on issue over the period. The full year distribution of $0.10 per stapled security represented a decrease of 11% on FY 'nineteen following 6 years of consecutive growth.
We remain cognizant of the importance of distribution growth to many of our security holders and will continue to balance distributions with capital needs. The security prices continued to grow from $3.25 on the 1st July 2019 to over $4.90 currently or at least as at the close last night. The price remains well above the group's pro form a net asset value per security of €290,000,000 at 30th June 2020. The group was included in the S and PASX 200 Index in December 'nineteen and substantially outperformed relevant indexes indices over 1, 3, 5 10 year terms to the 30th June 2020. Our focus on sustainable business growth continued over the year, and I was very pleased to see the progress we made in formalizing and communicating our efforts in this area.
We released our 1st sustainability disclosures in July 2020, outlining the important role social, governance and environmental issues play in delivering sustainable value for our stakeholders. The report provides greater depth of reporting on our social impact and our approach to stakeholder engagement. Our commitment to creating community and providing affordable, high quality community based living for Australian seniors extends beyond the build structure. Our impact on resident health and well-being, our ability to engage with and support our residents and our desire to have a positive impact is at the heart of all we do. The past year has demonstrated more than ever the attractiveness of this model for many seniors who remain connected within their communities despite social distancing and travel restrictions.
We were proud to be ranked 2 for Women in Executive Leadership Team roles in the 2020 Chief Executive Women ASX200 Senior Executive Census, a pleasing acknowledgment of our efforts to ensure that women are represented at all levels of the business. We are currently reviewing opportunities to reduce the environmental impact of our operations. Projects include the installation of lead lighting and solar and participation in the Green Building Council of Australia's pilot program for a more efficient, energy efficient home will assist in this area. We are in the early stages of this journey, and I look forward to sharing our progress at next year's AGM. The execution of our intent to build a leading presence in the emerging lifestyle sector served the group well in FY 'twenty and provides us with a solid revenue base into FY 'twenty one.
We are experiencing a recovery in our holiday parks business with forward bookings up materially as domestic travel restrictions have eased. We have a strong balance sheet with the capacity to continue to invest in our development projects and to acquire new communities. We're continuing to focus on the impact we have on our communities and their environments. The coming year, however, remains uncertain with the long term impacts of this year's events on our economy and operating environment still unknown. We continue to be confident in our strategy and in the ongoing demand for our offerings, which resonate with an aging population.
Our management team, led by Simon Owen, will continue to execute on our growth plans and as always, support the health and safety of our residents, guests and team. Simon will speak more about our performance and outlook shortly. Turning now to the resolution for today's meeting. Resolutions 3.1, 3.23 relate to the election of directors. As our strategy has progressed and the business has grown, the composition of the board has evolved to ensure that it meets the current and future needs of the group.
This will continue. As I mentioned earlier, in September this year, we were sorry to see Andrew McEvoy step down as a Director. Pippa Downs was appointed to the Board in December 'nineteen and Greg Hayes was appointed in September this year. Both are seeking endorsement with the unanimous support of the Board of their appointment to the Board today, and you have the opportunity to hear from them later in the meeting. Amanda Haworth, Chair of our Remuneration and Nominations Committee, is seeking reelection today also with the unanimous support from the board.
You'll also have the chance to hear from Amanda and vote on her reelection later in the meeting. Items 2, 4 and 5 relate to remuneration. The board recognized the importance of aligning remuneration outcomes to business performance and long term value creation for security holders. The remuneration framework and outcomes outlined in our remuneration report and in the resolutions before you today reflect this focus. As a board, we continue to monitor our framework to ensure it meets the business' needs and aligns with stakeholder expectations.
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 all investors for their support for the business and our recent equity raising. I'll now hand over to Simon Owen, your CEO and Managing Director, for his update.
Thanks, Jim. Good morning, everyone, and thanks for your attendance today. I'm excited to be presenting another strong result underpinned by doing the basics well, focusing on our residents and guests, recruiting and developing the best talent, growing our rents, increasing occupancy, building and selling quality homes, integrating acquisitions and being vigilant on costs. Like most businesses in Australia, Ingenia has been adversely impacted by COVID. Our holidays business was closed for the best part of 3 months, including over Easter, and new home sales were tempered over the same period.
However, I do think that we recognize the potential threat of COVID early, and our decisive agile response has minimized the impact. It is pleasing to note that across the entire business to date, some 750 staff, over 7,000 residents and hundreds of thousands of holiday guests, we have recorded just a single incidence of COVID. We've invested a huge amount of effort and resources on doing the very best we can to keep our staff, our residents and our guests safe. Our business model is firmly focused on the lower and mid quartile residential markets in outer ring metro and accessible sea and tree change locations, where there is genuine resilience in house prices and underlying demand. Ingenia Gardens, our affordable seniors rental business is presently travelling at a near record occupancy rate of 94%.
Our holidays business is strongly leveraged to the incredible demand we are now witnessing in domestic tourism and our forward bookings through to 30 June next year are up over 70% when compared to the same period last year. Caravan sales are very strong at the moment. A 6 month wait for a new caravan is not unusual, And the 2 most popular regions in Australia for caravanning and camping are the New South Wales North Coast and the New South Wales South Coast, where Ingenia has market leading positions. In late April, we made the decision to raise capital. The purpose of this was not to deleverage the balance sheet, which was already in excellent shape.
It was about sector leadership, securing additional growth and creating compelling long term security holder value. Some of our competitors are pausing construction, deferring growth capital expenditure, holding back on marketing or withdrawing from M and A. At Ingenia, we see the current market dislocation as a once in a decade opportunity to build long term sustainable market share and slingshot past the competition. I'll now move on to the slide, Business Overview. Ingenio is a clear sector leader of lifestyle communities across Australia.
Our business is underpinned by owning land and collecting rent. We presently have over 9,900 income yielding homes, cabins and sites that we own or manage, and this number continues to grow every week as we settle new homes, add new rental and tourism cabins across the portfolio and close on acquisitions. Combined with our Ingenie Gardens business, our annual revenues are now tracking at over $250,000,000 We generate rent inflows of over $2,000,000 per week, every week. I'll now touch briefly on our financial performance and key results. Record revenue of $244,000,000 for the year, which is up 7% on 12 months ago.
Notwithstanding COVID, we still settled a new record 325 homes and increased the number of lifestyle and rental homes in our portfolio by 24% during the year. Today, the group is pleased to announce that we have recently agreed terms to acquire 2 iconic beachfront holiday parks, including our first in Victoria. Settlement is subject to finalizing customary due diligence with Ingenia likely to take over operations in the coming months. The combined purchase price for the 2 parks is approximately $55,000,000 and offers a combination of attractive in place site yields combined with considerable repositioning upside. Our acquisitions team has remained very busy right through COVID and the group is close to finalizing several other opportunities in the lifestyle, mixed use and holiday sectors and optioning up additional development sites.
The charts on this page, residential markets, were only released by CoreLogic last week and show that a variable speed gradual recovery in Australian housing market is now underway. Clearly, Ingenia is leveraged to the Australian residential market, so this represents further good news for our business. I would offer a few comments. Home price growth is not uniform across all markets, with Victoria lagging New South Wales and Queensland. Regional markets are outpacing capital cities as sea and tree change locations experience increased COVID driven demand, and increased time on market and volatile consumer confidence remain key risks.
Our focus on key accessible coastal markets such as Port Stephens, Coffs Harbour and Hervey Bay is working well. As I noted previously, COVID has required us to be nimble and agile, and this is included in how we approach new home sales. We've had to pivot from large group open days to smaller bespoke open homes, mini events and experiential in community events. Large virtual events have also proven to be very successful and recently we had over 1100 inquiries generated by our Start to 60 webinars. Year to date settlements continue to track ahead of the prior year.
Through to the end of last week, we had settled 100 homes in the current financial year, which is up 16% on the prior year, and we have a further 189 homes deposited or under contract. Last year, approximately 1,200,000 Australians went on a cruise, and we spent as a nation over $65,000,000,000 on overseas travel. With overseas borders effectively shut, Australians are choosing to holiday at home and our holiday parks, which are readily accessible and perfect for family getaways, are proving to be huge beneficiaries. Our forward bookings for the next 12 months are presently some 70% higher than the same time last year, and the bookings are flooding in every day at a record rate. Several weeks ago, Ingenia was awarded the best affordable housing development in Australia by the Property Council of Australia for our Chambers Pines lifestyle community in Logan, just south of Brisbane.
Over the past year, we have invested considerable time and energy in prototyping a new one bedroom detached home, which we can sell for under $200,000 This home, recently introduced at our Chambers Pines community, represents an entirely new market segment for Ingenia and to date is proving to be very popular. As noted by the Chairman earlier this morning, ESG, Environment, Social and Governance, is a large and growing focus for the group. In previous years, I've spoken about our continuing partnership with Ronald McDonald House Charities Australia, which provides both financial and in kind support. We also support many other local charities and community groups, including the RSPCA, the Cancer Council, Bush Kids and numerous schools and sporting clubs through its sponsorships, donations and the involvement of our team and our residents. From a sustainability perspective, Ingenia is also working with the Green Building Council of Australia on a new standard for homes, and we are aiming to have the 1st certified green homes in a lifestyle village in Australia.
Delivering a high quality of life for our residents is intrinsically linked to sustainable investor returns. At this stage, Ingenia is unable to provide guidance for the financial year due to the considerable uncertainty in our current operating environment and the timing of deployment of the capital we raised back in May. We have a considerable pipeline of acquisitions currently under assessment in addition to the 2 announced today. However, the timing of financial close remains unclear. I would note that the broad outlook for the business continues to remain positive with rent collection intact, new home settlements continuing to grow and demand for holidays incredibly strong at the moment.
I would like to thank all security holders for your attendance today at our first virtual AGM. I would also especially like to thank the Ingenia team of over 750 dedicated employees for their continuing commitment to performance and superior customer and resident experience, as well as the 7,000 people who live in an Ingenia community and the more than 350,000 people who choose to stay in one of our holiday communities over the last 12 months. I greatly look forward to working with the team over the next year in what I'm sure will be another busy, challenging and exciting year. Equally, I would also like to thank Jim, Amanda, Rob, Pippa, Gary, Greg and our company secretary, Niu, for their support and guidance over the past year. A special thanks to our recently departed Director, Andrew McEvoy, who made a huge contribution during his period with the group.
The management team takes great confidence in having such a committed, inquisitive and supportive Board. Ladies and gentlemen, thank you for your time today and your continued support of Ingenia Communities. I'll now hand back to the Chairman for the formal business of the meeting.
Thank you, Simon. And just for everybody's information, I mentioned earlier we had 35 lines open or people online. It's now up to $71 tells me, so that's excellent. I would 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 the question and click Submit. As I said, this is the first time like you, this is our first time doing this, so we hope we can get the job done. A reminder that this is a security holder meeting, and as such, only security holders are entitled to ask questions. We have received some questions and comments from security holders in advance of the meeting, and I'll address those first.
So the process will be Donna Byrne, our Investor Relations General Manager, sitting next to me. As the questions come in, she will ask them, and I will either answer them or pass them to the relevant person. But we'll start, Donna, with the questions that you received or comments you received prior to the meeting.
Thank you, Chairman. We have a question or a comment from shareholder Ms. Nolene Hanson who comments, it would be good to have confidence in the future direction of the company. Investment means a lot to many people preparing for our future. Good investments will get good results.
Thanks, Ms. Hanson. Just to say, I hope the presentations today have provided you with some comfort on the direction and focus of the company. As I mentioned in my report, Ingenia has outperformed the relevant indices that it's tracked against on a 1 year term, 3 year term, 5 year term and 10 year term. And let's hope we can keep that up for you in the future.
Chairman, we have another question or comment from shareholders Colin and Phyllis Pass regarding Western Australia. They state, the border is closed, but people are traveling within WA. Also Southwest WA and the Lower South WA should be on your future lookout for investment opportunities. Esperance and the North Coast also. The WA Tourist Bureau should be able to give center visiting numbers.
So thank you, Colin and Phyllis. We do have investments in Western Australia. We have 6 Ingenia Gardens communities in that state. It's a market we monitor, and we're very hopeful soon that your Premier will let us back into the People's Republic of Western Australia, and we can come and have another look.
Chairman, we have another question online. The question comes from shareholder, Jeanette Sheridan. Given that the board recognizes that a sustainable future for its business depends upon sustainability of the communities, economy and society in which it operates, the question is, can the Board confirm that the environment in which the community living on Ingenia Lifestyle Estate, Stoney Creek, is sustainable and not detrimental to the health and well-being of its residents?
So I presume that question has come from a resident and security holder at Stoney Creek, and I'll pass that to Simon to address.
Thanks, Jim. Look, the sustainability and well-being of our residents is absolutely paramount, and I think we've demonstrated that through COVID. I would note that at Stoney Creek, there has been the construction of some light industrial in the immediate vicinity of that. However, we do have an existing authority to operate from the local council and we're continuing to monitor what's going on at Stoney Creek very closely.
Donna, are there any further questions?
There are no further questions at this time, Chairman.
So I'll move to the formal business of today's 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 the notice of meetings, and unless there are any objections, I'll take the notice convening the meetings as read. A reminder that we are holding the Annual General Meeting of Ingenia Communities Holdings Limited and 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 at the meetings will be decided on a poll, which I now declare open. This means that each Ingenio community 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 close 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'll declare them valid for voting at this meeting.
That was for Donald Trump. I will disclose proxy votes on the screen prior to the vote being taken for each item. These figures will be as at closing time for receipt of proxies, which was 11:30 a. M. On Sunday, 8th November 2020.
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. The first item of business is to receive and consider the financial report, the directors' report and auditors' report of the group for the year ended 30th June 2020. There is 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 of auditors?
I'll wait a little bit for you to type in questions if you so wish.
Chairman, we do have one question I received from shareholder Kenneth Davies. He asks what the extent of the total losses of the adventure in the U. S. Was.
Say that again?
The extent of the total losses of the adventure in the U. S.
Not sure which adventure in the U. S. That's being referred to. We have no business in the U. S.
The fund that preceded Ingenio in 2012, the IMG Community Living Fund, did have some assets in the U. S, but they were disposed of prior to internalization in 2012, as I recall, Simon. We do have a major shareholder Sun Communities is a U. S. Company listed on the New York Stock Exchange, And we have a joint venture in Australia to develop land lease communities with Sun.
I'm not sure whether the security holder is referring to that, but that's venture is in the early stages, and we are very confident on how that will play out for our security holders. Do you have any further questions, Stella?
There are no further questions at this time.
Right. Are there any questions for the auditor which are relevant to the conduct of the audit, the preparation content of the audit'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 their audit.
Thank you, Chairman. We have no questions for the auditor.
I'll 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 June 2020. The voting proxy statistics for this resolution are shown on the screen. Are there any questions?
We do have one question in relation to the remuneration report, and the question has come from security holders Ronald and Lynette Dullman. The question is, the Syrah remuneration system adopted by Ingenia has in many companies proved to inculcate poor behavior by executives. What are the security measures in place to prevent this happening here? The target sets seem to be more than a little wishy washy, e. G, what does a target of middle of the range mean in measurable terms.
I have voted for the remuneration report this year as the results are acceptable under the circumstances. However, remuneration seems to be at the top end for a company this size, and I would wish to see more firm and stretched targets to continue doing so.
Thank you, Donna. I'll pass that question to the Chair of our Remuneration Committee, Amanda Haworth.
Thank you. The Remuneration and Nomination Committee and the Board both spend a lot of time thinking about remuneration from a couple of different perspectives. It needs to remain fit for purpose for the company and for its strategy going forward. We need to attract and retain a good team, and we really need to align their interests with the interests of unitholders. So that's reflected in what we would regard as best practice.
We benchmark our remuneration against industry peers. In recent years, we have also increased the amount of remuneration that executives get in the form of rights if they achieve very clear targets. And those targets are set with a lot of thought, and they are quite specific. So very comfortable with that. And I think the fact that this year's short term incentives flexed down and were lower than they were in previous year, even though the company actually did better this year financially, we set very ambitious targets and so the payouts were lower, does suggest that the remuneration framework is fit for purpose.
That said, we'll keep looking at that again every single year, and we'll keep looking at the way we disclose that every single year as well.
Thanks, Amanda. Donna, are there any further questions?
Thank you, Chairman. There are no further questions.
We'll now turn to the next item. The next item of business is the reelection of Ms. Amanda Haworth as the Director. I'll now put the resolution to the meeting. Ms.
Amanda Hayworth, being a Director who is retiring in accordance with clauses 74.1 and 74.4 of the company's constitution and listing Rule 14.4 and being eligible, offers herself for reelection, be reelected as a director of the company. Before I open this item up for discussion, I'll ask Amanda to say a few words about herself.
Thanks, Jim. I've been on the board since 2012, which is the time of internalization. So the company that we've got today bears absolutely no resemblance to the company we had back then. Over the last 8 years, we've built a really strong capability in rental villages, land lease communities and tourist parks. And I think the way that the company has weathered the COVID crisis and the bush fires this year is really a testament to the team.
And that starts with the Sunday night cooks and the part time gardeners all the way through to the executive team led by Simon. For myself, I started my career in accounting and finance, moved into the Federal Treasury as an economist and spent the last stage of my career working in technology, startups and venture capital. So that I now work as a professional company director. I serve on the Board of Ingenia, another company, a credit union with $10,000,000,000 under management and another a number of other entities in technology research commercialization. We have had an excellent board renewal process, so I'm now one of only 2 nonexecutive directors who were around at the time of internalization.
And I think that really brings a good balance of corporate history and fresh thinking to the board. What I think I bring to the board is good understanding of the business, good strategic brand and a real focus on growth and innovation. I certainly have spent a lot of time with the execs talking about technology, remuneration and sustainability initiatives, and I'm very keen to keep making a contribution at board level. Thank you.
Thank you, Amanda. Voting statistics on this resolution is shown on the screen. Are there any questions?
Thank you, Chairman. There are no questions.
Thank you, Donna. I'll now turn to Item 3.2. The next item of business relates to the election of Ms. Pippa Downs as a director. I now put the resolution to the meeting that Ms.
Pippa Downs, being a director who was appointed by the directors on 4th December 2019 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 election, be elected as a Director of the company. Before I open this item for discussion, I'll ask Pippa to say a few words about herself.
Thanks, Jim. Hello. My name is Pippa Downs, and I joined the Board of Ingenia in December last year. I'm currently a full time company director, and I chair the Audit and Risk Committee of Ingenia. I bring to Ingenia significant experience in my 20 year career as an investment banker in international banking, capital markets, derivatives and investing.
My early career running large securities and derivative portfolios and pricing risk enables me to bring a keen focus on financial risk management within Ingenia. My latter career as a proprietary investor of Goldman Sachs Capital also allows me to bring a strong contribution to the Investment Committee of Ingenia given our significant pipeline of investments and competing opportunities to deploy shareholder capital. Our job, along with management, is to help ensure we are getting the best bang for our investment buck to optimize shareholder returns. My extensive market experience also allows a pragmatic perspective on the markets and how Ingenia can best utilize the many levers it has to optimize performance for our shareholders. Currently, I serve on the Board and Chair the Audit Committee of ALE Property Group.
This experience in the Australian REIT sector gives me valuable perspective for Ingenia. I'm also on the Board of 2 tech companies, Zip Co and Australian Technology Innovators, so I have good insight into the importance of using technology to ensure business efficiency. I see a significant opportunity ahead for Ingenia and believe the skills and experience I bring to the Board can make a positive contribution as the group continues to grow.
Thank you, Pippa. Voting proxy statistics on this resolution are shown on the screen. Are there any questions?
There are no questions, Chairman.
We'll move on to Item 3.3, election of director relates to the election of Greg Hayes as the director of the company. I now put the resolution to the meeting. Mr. Greg Hayes, being a Director, who was appointed by the Directors on 17th September 2020 and whose appointment as the director expires at the conclusion of the Annual General Meeting of the company in accordance with clause 73.2 of the company's constitution and Listing Rule 14.4 and being eligible, offers himself for reelection, be elected as Director of the company. Before I open this item for discussion, I'll ask Greg to say a few words about himself.
Thank you, Jim, and good afternoon, ladies and gentlemen. Today, I'm seeking your support to be elected to the Ingenia Communities Board as a non executive director. I was pleased to be appointed to the Board on 17th September this year, and it is my intention, if I'm elected today, to continue to bring my skills, experience and personal effort to assist the Board and management of Ingenia deliver its strategic plan for the benefit of all stakeholders, including you as shareholders. As I'm new to the board, I thought it would be appropriate and helpful to you to provide a summary of what I consider to be the relevant aspects of my background. After training as a chartered accountant, I embarked on a commercial career around 33 years ago.
During that time, I have held senior finance and commercial roles with some of Australia's most prominent companies, including Southcorp, Westfield, AGL, TENEX and Brambles. I've held positions of CEO and CFO and been a member of boards of public and private companies in Australia and multiple other countries. During this period, I have also been responsible for strategy, M and A, Investor Relations, risk and finance in companies with global operations, which I believe is an appropriate background for a board membership of Ingenia. This experience, together with my finance background and qualification, enables me to provide considered input into issues that are being considered by the board and in performing roles as a member of the Investment and Audit and Risk Committees. As well as my directorship at Ingenia, I am a board member of the following companies: Home Consortium Limited, which is a public company operating in the property space in Australia Orem Holdings, which is a growing private company in the area of aged care the Precision Group of Companies, which is a privately owned property group operating in Australia and New Zealand I'm Chairman of Prezi Proprietary Limited, which is a privately owned company operating in the digital gift card space and Hi Resolves, which is a fast growing not for profit company working in schools around the world in the areas of citizenship, leadership and community engagement.
I've chosen to become involved with Ingenia Communities because I am impressed with the position the company holds in the markets in which it operates. I'm convinced that there are opportunities for the company to grow. And although it's only been a short time that I've been a director, I'm impressed with the way the board conducts its business under the stewardship of your Chairman and with the experience, dedication and passion of your CEO, Simon, and the management and staff of the company. I am ready to continue to commit my time and effort to fulfill the responsibilities of being a Director of Ingenia and seek your endorsement for my election. Thank you.
Thank you, Greg. The voting proxy statistics on this resolution is shown on the screen. Are there any questions?
Chairman, there are no questions.
Thank you,
Donna. The next item of business relates to the approval of issue securities under Ingenia Communities Group Rights Plan on the terms and conditions outlined in the explanatory note. I put the resolution to the meeting that for the purposes of Listing Rule 7.2, exception 13 and for all other purposes, security holders approve the issue of securities under the Ingenia Communities Group Rights Plan on the terms and conditions outlined in the explanatory notes. Voting statistics on this resolution are shown on the screen. Are there any questions?
Donna?
Chairman, there are no questions.
Thank you, Don. Item 5.1 relates to the approval of the grant of amended FY 2020 short term incentive plan rights to Simon Owen. I'll put the resolution to the meeting. 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 FY 2020 short term incentive rights calculated as outlined in the explanatory notes and the issue of stopeld securities upon the vesting and exercise of those rights under the Ingenia Communities Group Rights Plan and on the terms and conditions set out in the explanatory notes.
Voting statistics on this resolution are shown on the screen. Are there any questions?
There are no questions on this resolution.
Thank you, Donna. The final item of business relates to the approval of the grant of FY 2021 fixed remuneration rights, short term incentive plan rights and long term incentive plan rights to Simon Owen. I put the 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 to 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 Rights Plan and on the terms and conditions set out in explanatory notes.
Voting statistics on this resolution are shown on the screen. Donna, are there any questions?
We have no questions, Chairman.
Ladies and gentlemen, it's now come to the end of the meeting. Let's hope we don't have to have a meeting like this again, that we can all be in the same room. But hopefully, you've been able to participate by the online platform, and you should now submit your votes. Please note the voting system will close 5 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 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. As I said a moment ago, I look forward hopefully to meeting you in person for our 2021 Annual General Meeting. I formally close the meeting. Thank you.