Annual Meeting of Shareholders 2017: Results

Veritas Investments Limited (NZX: VIL) advises that the resolution put to the Company's Annual Meeting of Shareholders held in Auckland today was passed. The resolutions authorised the Board to fix the fees and expenses of PwC as auditor, as further described in the Notice of Annual Meeting of Shareholders dated 21 November 2017. The presentation provided to the shareholders is attached to this announcement. Sharon Hunter, who was due to retire by rotation, did not seek re-election and resigned as a Director of Veritas at the end of the Annual Meeting of Shareholders. The Board and management of Veritas would like to thank Sharon for her invaluable contribution to Veritas. The Board wishes to provide an update for the financial year ending 30 June 2018. The Group is aiming to generate revenue of $26m to $29m in FY18, EBITDA prior to significant items of $7.0m to $8.0m and net profit after tax for continuing operations prior to significant items of $3.5m to $4.0m. As disclosed in our annual financial statements for FY17, the Board is considering a number of restructuring options for the Group. Accordingly, this guidance is subject to any write-offs and restructuring costs, if any, that are incurred in connection with the implementation of these initiatives. For further information, contact: Tim Cook Chairman, Veritas Investments Limited 021 764 401 timc@corporateadvisory.co.nz End CA:00311488 For:VIL Type:MEETING Time:2017-12-06 12:43:27