Oceania Healthcare (OCA) AGM 2025 summary

Opening remarks and agenda

• Meeting held in person and online, enabling shareholder participation and electronic voting.

• Chair introduced board members, executive team, legal advisors, and auditors.

• Quorum confirmed, meeting properly convened, and notice of meeting duly given.

• Voting procedures and Q&A protocols explained for both in-person and virtual attendees.

• Meeting opened with addresses from the Chair and CEO, followed by business and agenda matters.

Financial performance review

• Total assets have tripled since 2017, reaching nearly NZD 3 billion.

• New sales volumes increased by over 17% and resales up 5% in FY25.

• Occupancy at The Helier rose from 14% to 41% by May 2025; Bellevue apartments nearly fully sold within 18 months.

• Unsold stock reduced from $353m to $342m despite $120m of new stock added; total sales reached $131m.

• Gearing improved to 36.3% from 38.3% last year; NZD 97 million in unused debt capacity.

Board and executive committee updates

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

• Board actively involved through site visits and health and safety walks.

• Rob Hamilton stood for re-election as director, supported by the board.

• Board holds discretionary proxy votes and oversees risk management.

• Executive team includes CEO, CFO, Chief Legal Officer, and leaders in sales, customer service, clinical care, and property.