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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
National Storage
National Storage (NSR) investor relations material
National Storage has been acquired
National Storage Scheme meeting 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Scheme meeting 2026 summary15 Apr, 2026
Opening remarks and agenda
Hybrid meetings enabled both in-person and online participation, with Computershare and legal advisors present to assist attendees.
Four concurrent meetings were formally opened, covering share and trust schemes and unstapling resolutions.
Voting procedures and eligibility were explained, with securityholders able to vote on five interconditional resolutions.
Financial performance review
Market capitalization grew from AUD 198 million at IPO in 2013 to over AUD 4 billion, with enterprise value at AUD 6.7 billion.
Securityholders at IPO are set to receive total returns of 438% if the transaction is implemented.
Compound annual growth rate for underlying earnings was 20% and total revenue 19% over 12 years.
First half FY 2026 saw underlying earnings growth above 8% and REVPAM up 5.3%.
Board and executive committee updates
Board comprises independent and non-executive directors with defined committee roles, including audit, risk, nomination, and remuneration responsibilities.
Managing Director, CFO, General Counsel, and other key executives were listed, highlighting leadership continuity.
Directors and management were commended for professionalism and dedication, with special recognition for the founder and executive team.
No exertion payments were made to Non-Executive Directors for the transaction.
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Latest events from National Storage
- IFRS profit up 8.2%, revenue up 10.8%, and a 26.5% premium acquisition scheme announced.NSR
H1 2026 - Profit rose, portfolio expanded, and sustainability targets advanced amid active governance.NSRAGM 2025
- Underlying EPS up 6.4% to 11.9c, assets at $5.8B, and FY26 EPS guidance set at 12.4c minimum.NSRH2 2025
- Earnings rose, acquisitions expanded, and all resolutions were supported by proxy advisors.NSRAGM 2024
- Underlying earnings rose 8.7% as portfolio and assets expanded, with positive FY25 outlook.NSRH2 2024
- IFRS profit rose to $87.9M, portfolio grew to 260+ centres, and FY25 guidance reaffirmed.NSRH1 2025
National Storage
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Frequently asked questions
National Storage REIT is an Australian company specializing in self-storage solutions, serving over 90,000 residential and commercial customers across more than 230 storage centers in Australia and New Zealand. The company focuses on a single business segment, which is the operation and management of storage centers. It provides a variety of services including self-storage, business storage, climate-controlled wine storage, vehicle storage, as well as vehicle and trailer hire, packaging, insurance, and other value-added services. National Storage REIT's portfolio includes leasehold investment properties, freehold investment properties, and investment properties under construction. The company is headquartered in Brisbane, Australia, and its shares are listed on the Australian Securities Exchange.