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- Release Date: 07/05/13 11:13
- Summary: GENERAL: SUM: Summerset to Seek ASX Listing
- Price Sensitive: No
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SUM
07/05/2013 09:13
GENERAL
REL: 0913 HRS Summerset Group Holdings Limited
GENERAL: SUM: Summerset to Seek ASX Listing
NZX RELEASE
7 MAY 2013
SUMMERSET TO SEEK ASX LISTING
Summerset today announced that it will seek a listing on the ASX in response
to increased interest from Australian investors.
Chairman Rob Campbell said that since listing on the NZX in 2011 Summerset
has continued to grow and build its business successfully.
"The retirement village and aged care sector now accounts for nearly 8% of
the NZX50. As a result we have seen increased Australian investor interest
in Summerset. Seeking an ASX listing will enable more Australian investors
to participate in Summerset's growth. The board believes that this will
benefit all shareholders."
Managing director and CEO Norah Barlow said this is an exciting development
for the company.
"Our focus remains on New Zealand where we remain on track to achieve our
stated build rate targets of 200 retirement units for 2013 and 300 retirement
units per annum by 2015.
"Seeking an ASX listing is a logical extension for the company given its
increasing profile."
Mrs Barlow reiterated that the company is not seeking to raise any new
capital through the listing and is able to internally fund the target build
rate of 300 retirement units per annum by 2015.
The company has commenced the listing process and subject to approval by ASX
expects to make further announcements with respect to securing a listing in
the coming months.
ENDS
For investor relations enquiries:
Julian Cook
Chief Financial Officer
[email protected]
04 894 7310 or 029 894 7310
For media enquiries:
Tristan Saunders
General Manager, Sales and Marketing
[email protected]
04 894 7313 or 029 894 7313
End CA:00235916 For:SUM Type:GENERAL Time:2013-05-07 09:13:33
