Strategic Report
Financial Statements
Additional Information
Governance
How we engage
What we have done this year
We have a small team and engage regularly with them. We have an appraisal process where each member of the team will discuss their performance and objectives with their line manager twice a year. We carry out an annual employee survey, and the results of this are discussed at a meeting held with our designated Non-Executive Director for employee engagement, Maria Bentley.
We have returned to the office this year on a flexible basis, so that the team spend three days a week in the office. The results of the employee survey showed the team remained positive and morale was good.
We are committed to improving local communities where we own buildings, whether providing space to local businesses, improvement of local areas or minimising the environmental impact of buildings themselves. We engage through our charity and community initiatives and through our occupier engagement programme.
Our charitable donations for the year were £16,000. We supported a range of charities, including the children’s charity Coram. Tim Hamlin, our Director of Asset Management, successfully completed the London Marathon in October, raising funds for Coram.
One of our key priorities is to work with our occupiers, so that we can understand their needs and aim to meet their current and future requirements. Our asset managers, guided by our Picton Promise, maintain regular contact with occupiers and discuss with them any issues regarding the buildings and any future plans we have. Our Head of Occupier Services has developed an occupier engagement programme and attends occupier meetings and other events. We send out an occupier newsletter regularly with relevant and helpful information. We value the views of all our shareholders and senior management hold regular meetings to update shareholders on progress and activity. We issue regular investor updates with key financial highlights and updates on the portfolio. Our website provides investors with up- to-date information about the Group. This year we again held the Annual General Meeting as a closed meeting but hope in the future that we will be able to return to open meetings and would welcome shareholder attendance.
We have continued our engagement with occupiers this year as the impacts of the pandemic have still been felt. We have also engaged with occupiers on the impacts of climate change, and what actions can be taken to improve energy efficiency at our properties and reducing carbon emissions.
We have increased the dividend on two occasions this year, and we have now restored it back to the pre-pandemic level, as our rent collection rates have returned to normal. We sought consultation from our major shareholders regarding our new Directors’ Remuneration Policy ahead of it being put to the Annual General Meeting. We have subsequently had further discussions with shareholders following the meeting and will consult further ahead of this year’s Annual General Meeting.
We seek to maintain productive and long-term relationships with our business partners. We have in place a framework for conducting business across the Group in a way that makes a positive contribution to society, while minimising any negative impact on people and the environment
We have continued to ensure that our suppliers are paid promptly and within payment terms.
Picton Property Income Limited Annual Report 2022
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