Ann: QUARTER: ARV: Market Update

• Release Date: 24/04/15 11:21
• Summary: QUARTER: ARV: Market Update
• Price Sensitive: No
• Download Document  2.7KB

					ARV
24/04/2015 11:21
QUARTER
PRICE SENSITIVE
REL: 1121 HRS Arvida Group Limited (NS)

QUARTER: ARV: Market Update

Arvida Group Limited ("Arvida") is providing a market update in accordance
with the conditions of the waiver from NZX Main Board Listing Rule 10.4.2
granted by NZX on 31 December 2014.

Arvida confirms the following metrics as at 31 March 2015:

i. the aggregate overall occupancy rate as a percentage of total available
occupancy for all retirement villages owned by Arvida and its subsidiaries
("Arvida Group") is 97%;

ii. the aggregate overall occupancy rate as a percentage of total available
occupancy for all aged care facilities owned by the Arvida Group is 94%;

iii. the overall aggregate average age of residents in retirement village
units owned by the Arvida Group is 85 years;

iv. the total number of care beds (being resthome beds, dementia beds and
hospital beds that provide resident accommodation and various levels of care
and other services) for all retirement villages and all aged care facilities
owned by the Arvida Group ("Arvida Facilities") is 944;

v. the total number of villas for all Arvida Facilities is 351;

vi. the total number of apartments for all Arvida Facilities is 17; and

vii. the total number of serviced apartments for all Arvida Facilities is
446.

In respect of the three month period comprising the effective date of the
last market update (being 31 December 2014) to 31 March 2015, Arvida
confirms:

viii. the process of integrating the retirement villages and aged care
facilities into Arvida is well underway.  The villages and facilities
continue to operate on a business as usual basis, with the interests of
residents coming first.  A new management structure was implemented in March,
the centralisation of the finance function commenced in April, a group-wide
brand rollout that promotes the individual villages and facilities will occur
in June and processes are being reviewed to support group compliance.  Some
economies of scale, through the procurement function, have been secured for
the benefit of the group in the 2016 financial year and plans are in place to
secure further savings in a number of areas;

ix. there are no known details of any actual or pending changes to Government
policy, or any applicable legislation, that Arvida considers is likely to
materially affect funding of, or available to, Arvida; and

x. there are no other matters, events or issues which Arvida considers is
likely to materially negatively affect the prospective financial information
for the years ended 31 March 2015 and 31 March 2016 included in the
Prospectus, when considering the effect of the events as a whole.

- ENDS -
End CA:00263539 For:ARV    Type:QUARTER    Time:2015-04-24 11:21:57