Was listed as an asset for sale
Probably so leaky they didn’t want to fix it up …..put the focus into the other leaky ones
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Read into this what you want, especially the first paragraph
ASSETS HELD FOR SALE
The Group classifies assets held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use.
Assets held for sale are measured at the lower of their carrying amount or fair value less costs to sell. Costs to sell are the costs directly attributable to the disposal of an asset, except for the portion that relates to investment property which is carried at fair value.
The criteria for held for sale classification is met only when the sale is highly probable and the asset is available for immediate sale in its present
condition
At March Assets held for Sale were in books at $8m odd ....that had gone up to $11m ihalf year. No idea how many assets there are .... might be more than this Bainswood ones.
Market doesn't seem too concerned about the staff member at Aria Park in Epsom who has Covid-19, oh hang on, it's Saturday and the market isn't open. Is this the first market test for a listed RV that has a Covid case?
They seemed to have dodged a bullet when a relative of a resident tested positive a few weeks ago
This may be a little different
http://nzx-prod-s7fsd7f98s.s3-websit...383/360034.pdf
9 December 2021 - Arvida Group Limited (NZX: ARV) (Arvida) has today confirmed the sale of its threeRangiora located retirement villages has settled.The sale of Bainlea House, Bainswood House and Bainswood on Victoria reduces Arvida’s portfolio by 4villas, 14 serviced apartments and 109 care beds.
This is a deliberated corporate strategy change. There are four large retirement developments in Kaiapoi and Rangiora area. This is a good sale to lock the market price and aviod price competition in this area. Free some cash from old units.
This is encouraging, on Sunday ... "Further testing at Aria Park Retirement Village in Epsom, Auckland - where a staff member had tested positive - has turned up no new cases."
Fingers'n toes crossed this doesn't get into the residents.
wish my good luck! start to buying more this afternoon :D:t_up:
Forsyth saying a few days back ARV worth $2.50 - thats 45% upside to the current share price ($1.72)
It seems ARV is back to doing what it does best - being the most undervalued retirement stock on the NZX.
Running a dead heat in that race with OCA in my opinion but all of them have come under selling pressure lately.
Hope all that underlying eps accretive talk with the recent acquisition works out. I bought that story hook, line and sinker and its not much fun being underwater.
I have a feeling ARV will regret making statements like being comfortable with analysts forecast of $67m underlying profit in F22 before acquisition and then raving about mid teens eps accretion.
Beagle, I fare you, me and many others did buy that story hook line and sinker ….should have stayed with my gut feel that ARV will always be a sector under performer …financially and share price wise
So two duds in OCA and ARV eh …..wonder if it double the anguish …..or two lots of a bit of anguish.