Ann: MEETING: MET: Annual Meeting 2013 Results

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					MET
24/10/2013 15:28
MEETING

REL: 1528 HRS Metlifecare Limited

MEETING: MET: Annual Meeting 2013 Results

24 October 2013
Media Release

METLIFECARE LIMITED - ANNUAL MEETING 2013 RESULTS

A year of transformation has been summarised by Metlifecare's (NZX: MET)
(ASX: MEQ) Chairman, Peter Brown, at the 2013 Annual Meeting of shareholders
held today at The Poynton retirement village in Auckland.

Peter Brown said: "Metlifecare is well-positioned to supply the market as
demand for quality retirement lifestyle options and residential aged care,
including resthome and hospital care, continues to grow."

 "We are firmly focused on growth through the acquisition and development of
greenfield sites, the expansion of existing villages and our care offer."

"We have recently received resource consent for new villages in Glenfield and
Unsworth Heights on Auckland's North Shore.  Planning is well underway and
building at these villages is expected to begin in the next 12 months. We
also have several other construction projects underway, including Stage 3 at
The Poynton, as we work towards achieving our target build rate of 200+ units
by FY15."

"The market potential is significant, driven by demography, an ageing
population and an increasing popularity of the retirement village product.
Metlifecare has a portfolio of villages and planned developments in markets
that are experiencing strong demand for our offering. We are in a sound
financial position, with a robust capital structure and the specialist skills
and resources to take advantage of the opportunities and remain a leader in
the sector."

Metlifecare Limited is pleased to advise that all of the following
resolutions were passed by way of poll at today's Annual Meeting.

1. Rotation and Election of Directors
a. Peter Brown retired as a director by rotation and was re-elected as a
director of Metlifecare Limited;

b. Dr Noeline Whitehead, having been appointed during the year by the Board,
was elected as a director of Metlifecare Limited.

2. The amendments to the Company's constitution, as set out in the Schedule
to the Notice of Annual Meeting, were approved.

3. The re-appointment of the Auditors, PricewaterhouseCoopers, was recorded
and the directors authorised to fix the Auditor's remuneration for the
current year.

John Loughlin retired by rotation and did not offer himself for re-election.

As required by NZX Listing Rule 3.3.3(a), the Metlifecare Board has
determined that the following directors are independent, as defined by NZX
Listing Rule 1.6.1:

Christopher Aiken - Independent
Alistair Ryan - Independent
Dr Noeline Whitehead - Independent

ENDS

For more information, please contact:

Alan Edwards
Managing Director & CEO
Tel: +64 9 539 8000

About Metlifecare

Metlifecare is a publicly-listed aged care and retirement lifestyle company.

Established in 1984, the company has a proven track record of successfully
owning and managing retirement villages in New Zealand. Metlifecare currently
owns villages in prime locations throughout the North Island of New Zealand,
with most providing a full continuum of care from independent villas and
apartments through to serviced apartments, rest homes and hospitals.

www.metlifecare.co.nz
End CA:00242836 For:MET    Type:MEETING    Time:2013-10-24 15:28:19