Oceania confirms earnings guidance, enhances landbank

Oceania Healthcare confirms earnings guidance, enhances development landbank o On track to meet IPO Forecast for year ended 31 May 2018 o Development landbank continues to expand in Auckland as a result of recent land acquisitions and advancing plans to redevelop other premium sites Oceania Healthcare, one of the largest national operators and developers of aged care and retirement village facilities in New Zealand, confirmed that it is on track to deliver its IPO forecasts for the year ending 31 May 2018. The Company listed in the NZX and ASX on 5 May 2017 and has 51 facilities located from Warkworth (North of Auckland) to Christchurch. "We are building excellent momentum across the business and have very strong demand for our new developments delivered this year at Meadowbank and Elmwood Villages, both Auckland sites with an outstanding reputation for delivering quality aged care", says Chief Executive Earl Gasparich, "we are beginning to show the market our advantage in having a true point of difference in terms of our weighting of aged care suites within our facilities and the premium quality of our product". Oceania Healthcare has also increased the size of its development landbank by 34% (from 1,674 to over 2,100 beds and units) since its IPO as a result of new land acquisitions in Auckland over the past year and advancing plans to redevelop its other premium Auckland sites. The Company announced last year that it had purchased a neighbouring site to its popular Eden Village in Mt Eden, Auckland, and also a greenfields site in Waimarie Street, St Heliers, Auckland. ENDS Oceania Healthcare Limited is New Zealand's third largest residential aged care provider and sixth largest retirement village operator. Oceania Healthcare has a total of 3,893 beds, suites and units located at 51 sites in the North and South Islands. End CA:00317410 For:OCA Type:GENERAL Time:2018-05-01 12:35:40