Oceania Healthcare (OCA) AGM 2024 summary

Opening remarks and agenda

• Meeting convened both in person and online, enabling broad shareholder participation and Q&A opportunities.

• Chair introduced the board, executive team, legal advisers, and auditors, confirming quorum and proper notice.

• Meeting opened with a welcome, introduction of directors and executive team, followed by addresses from the Chair and CEO, and outlined business and other matters for discussion.

• Voting procedures explained, with Computershare acting as scrutineer and results to be published later.

Financial performance review

• Total comprehensive income increased to NZD 70.5 million, up 104% year-on-year.

• Underlying EBITDA reached NZD 82.6 million (up 3%) and underlying NPAT NZD 62.1 million (up 6%).

• Operating cash flow rose to NZD 85.4 million (up 22%), and new cash from sales of occupation right agreements to NZD 226.3 million (up 27%).

• Total assets reached NZD 2.8 billion, a 9.3% increase from FY2023.

• Debt facilities headroom exceeds NZD 100 million, with compliance to all banking covenants.

Board and executive committee updates

• Newly appointed CEO Suzanne Dvorak introduced, starting 22 July, with extensive sector experience.

• Appointment of a new CEO and establishment of a Risk Committee during the year.

• Board comprises experienced independent directors with diverse skills in climate, markets, relationships, growth, property, and capital management.

• Directors Alan Isaac, Dame Kerry Prendergast, Sally Evans, and Greg Tomlinson stood for re-election, all supported by the board.

• Executive team includes key officers in finance, property, operations, legal, and people.