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cOrpOrate gOvernance
(cOntinued)
cOMMunicatiOn tO
securityhOlders (cOntinued)
stockland produces two sets of financial
information each year: the half year Financial
report for the six months ended
31 december and the Annual Financial
report for the year ended 30 June.
both are made available to securityholders
and other interested parties.
securityholders have the right to attend
stockland’s Annual general meeting, usually
held towards the end of october each year,
and are provided with an explanatory
memorandum on the resolutions proposed
through the notice of meeting. A copy of the
notice of meeting is also posted on the
stockland website and lodged with the AsX.
securityholders are encouraged to vote
on all resolutions. unless specifically stated
otherwise in the notice of meeting, all stapled
securityholders are eligible to vote on all
resolutions. securityholders who cannot
attend the Annual general meeting may
lodge a proxy in accordance with the
Corporations Act 2001. proxy forms may
be lodged by facsimile or electronically.
stockland’s external auditor attends the
Annual general meeting and may answer
questions from securityholders concerning
the conduct of the audit, the preparation and
content of the auditor’s report, accounting
policies adopted by stockland and the
independence of the auditor in relation
to the conduct of the audit.
transcripts of the Chairman’s and managing
director’s reports to securityholders are also
released to the AsX upon the
commencement of the Annual general
meeting. these transcripts, together with
the minutes of the Annual general meeting
are also posted on the stockland website
(www.stockland.com.au).
stockland encourages securityholders to
receive electronic communications. It is
now possible to update securityholder
information, elect to participate in the
dividend and distribution reinvestment
plan (when operating), or elect to receive
electronic communications from stockland
via the website.
principal activities
the principal activities of stockland during
the financial year were:
• investment in income producing retail,
office, industrial and office park
properties;
• development of retail, office, industrial and
office park properties;
• residential property development;
• retirement living development and
investment;
• property trust management; and• property management.
stockland operates primarily in mainland
Australia and the united Kingdom. In may
2008, stockland disposed of its business
assets in new Zealand and the business
activities in new Zealand ceased from
this time.
there were no other significant changes
in the nature of the activities of stockland
during the current financial year.
review and results
Of OperatiOns
stockland recorded a loss attributable to
securityholders calculated in accordance
with Australian Accounting standards
(“AAsbs”) of $1,802.8 million for the year
ended 30 June 2009 (2008: profit of
$705.2 million). this loss includes a number
of certain significant items that, in the opinion
of directors, need adjustment to enable
securityholders to obtain an understanding
of stockland’s underlying profit (refer to the
table on the next page).
the underlying profit for the year was
$631.4 million (2008: $674.0 million),
reflecting a 6.3% decrease from the