timetable-eyes down 4 a big move
Have a read boys & girls MXA (LVL) is going places. please read on........1st target 30c 15 December 2004 ASX Announcement Changeover to LVL The process of share restructuring and changing the company from Maxe-tec to LV Living Limited is almost complete. To ensure clarity for shareholders and investors, the following summary is being provided to detail the final steps that are being taken: 1. Trading in the deferred settlement status of MXADA will end today, December 15. 2. The company will trade as MXA in a consolidated form for one day only – tomorrow – December 16. 3. The name change will come into effect for the commencement of trading on Friday, December 17 in a consolidated structure under the ASX code of LVL. This then completes the process that was approved by shareholders at the November 30 Annual General Meeting. David Brown Executive Chairman
15 December 2004 Dear Shareholder, It is with great pleasure that the Board of LV Living welcomes you as a valued shareholder in the Company. Enclosed is a Holding Statement showing your new shareholding following the 1:10 consolidation approved at the Annual General Meeting. You will find LV Living on the Australian Stock Exchange under the code LVL from this Friday following our change from MXA (Maxe-tec Australia Limited). As you may be aware, the Board of LV Living has made a number of moves recently to build a substantial business in the high-growth 55+ living market. We intend to become a key player in this vital market and have made sound strategic moves that will position LV Living well and build value in the business. LV Living is a specialist development, management and marketing group in the over 55’s residential market. Our business focus is on providing a range of living options to a broad cross section of the market combined with a relevant and adaptive services mix. The strategy for LV Living centres on providing living solutions for the 55+ market in Australia. This market is forecast to more than double over the next 25 years as the demand of babyboomers has its impact. Our emphasis is on the lower to mid-end – “affordable living” segments that offer much potential for a number of products that LV Living will bring to the market. It is our intention to offer customers a choice of residential options combined with an adaptive services mix and smart financial solutions that match their needs. The product mix will be based on 3 village formats: 1. DMF (deferred management fee) “owner” villages that are either apartments or cottages within a secure, managed environment with community facilities. 2. Rental villages that provide accommodation, meals and laundry to residents for a fixed fee based on Government allowances and the pension. 3. Relocatable homes villages that provide an affordable lifestyle option. Having this mix of product will prove to be highly profitable due to the mix of revenues. It also supports a faster growth as we serve a broader cross-section of the market and we can be more flexible in our approach to sites and new village opportunities. LV Living is fundamentally an asset management Company. We work with a range of development partners to bring on-line viable and attractive villages into our management book. In some cases, LV Living will partner with developers in a village to share in the development margin. And, where there is an opportunity to take an ownership position in a village that has growth potential, then LV Living will take up an equity role to manage the village growth. So, LV Living really has a strategy to 1) grow village asset values and to 2) build a robust, multi-level revenue stream from management fees, development margins (either direct or shared), DMF (deferred management fees) and rental. To grow the business we have 5 key drivers: 1. Expansion of the existing villages 2. New villages 3. Acquiring the management rights of existing villages 4. New products 5. Strategic acquisitions. In our recent announcements to the market, the Board has detailed the early moves that we have made to achieve success and to bring 5300 residences on-line into the management book over the next 3 years. This included the announcement of our agreement to take a 49% stake in the fast-growing Oxford Crest group that will bring almost 2000 rental units on-line within the next 3 years on top of our base business plan of 3300 residences. Additionally, we have recently begun negotiations to acquire a number of DMF villages from 94/24 partnerships. The growth opportunities within these villages is highly attractive and the returns that are available from development partnerships and the gains in the management book are equally attractive. Asset value growth from development of the villages to their full potential will contribute greatly to the LV Living business. When LVL commences trading this Friday on the ASX it will be the start of something exciting for the Company and the shareholders as we build a valuable business that will be highly respected in the 55+ living market. Thank you. Yours sincerely, David Brown Executive Chairman
