Just a reminder to everyone that OCA's Annual Report for FY23 contains the following :-
"On 9 May 2023 the Group entered into a sale and purchase agreement with a third party in respect of two sites held for sale, conditional upon Te Whatu Ora approval. The carrying amount of these sites as at 31 March 2023 is $10.2m and the transaction is expected to settle in August 2023."
The implication is that the transaction was an unconditional one, except for approval of the incoming operator as suitable to own and manage the facilities. This would appear to be a straightforward issue so it is surprising that holders continue to await an update outcome for the transaction, and to learn whether the transaction is at a gain or a loss to the carry value in OCA's books which in my view has implications for the underpinning or not of the carry value attributed to other like facilities held by OCA and other listed operators given the dearth of current transactional evidence available to valuers in this context.
These transactions are always announced upon completion even if not truly material, given the public nature of transitioning residents/occupiers (and usually staff) to another operator.
So no news at present is an unusual circumstance just now. Whereas some form of market update as to sales/resales for the half year just expired could not really be anticipated for a while and perhaps only accompanying the November announcement.