Poor me, I'm always the one missing out.
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No CEO Chat??
https://www.nzx.com/announcements/431670
Oceania Healthcare Limited advises that Suzanne Dvorak has today been appointed as Chief Executive Officer.
Suzanne has been in the Australian aged care and retirement living sectors for the past decade which included leading the single largest residential aged care provider in Australia.She has most recently been an external advisor at Bain & Company in Melbourne.
Oceania Healthcare Board Chair, Liz Coutts, said today “the Board is delighted to announce Suzanne’s appointment as CEO of Oceania Healthcare, and we are looking forward to the valuable contribution Suzanne will make to the business.
Suzanne has extensive experience in aged care and retirement living, which will position her well to lead Oceania through its next phases.”Ms Dvorak commented “it will be a privilege to lead Oceania Healthcare, and I am excited to be joining the business at this time as Oceania grows its retirement communities and optimises its aged care operations.
”Ms Dvorak will commence on 22 July 2024 and will relocate from Melbourne to Auckland.Prior to her current role, Ms Dvorak held roles as Transitional CEO of Levande, Managing Director of Bupa Villages and Aged Care, Australia, and Executive General Manager of Residential Communities for Australia Unity.
Ms Dvorak has a Bachelor of Teaching and a Master of International Business from Curtin University, Western Australia.
Mrs Coutts confirmed that Mr Pattison will continue as Chief Executive Officer until Ms Dvorak’s commencement date to support Ms Dvorak’s introduction to the business.
I’d like to thank Mr Pattison for his continued leadership and support since the announcement of his resignation earlier in the year.This announcement has been authorised for release by Oceania's board of directors.
ENDS.
looks like it all came from revaluations lol , new sales down were they not ? re-sales were the bright spot just like all other RV's but report just looks in similar vein to all other RV'S nothing special in this.
Yeah it's a tricky one with OCA. Company not producing owner earnings at the moment. GAAP earnings only exist because of property valuation changes.
And for the property valuation to only increase by $60M when they have borrowed $87M is not great.
The hope for OCA is that eventually, once they have stopped building and have gotten debt down to more manageable levels, then the owners will see the cash come rolling in.
But there is still a lot of uncertainty around how it all plays out.
Be interesting to see what Mr Market makes of it today.
Waiting for someone smarter than me to explain whether this is a really good result, or accounting sleight of hand.