VHP Vital Healthcare

[peat]

Vital is at the forefront of this structural growth opportunity with the most experienced healthcare real estate management team in Australasia and the reputation as a preferred healthcare real estate capital partner, we are well placed for the future”.

[Jerry]

Structural Growth, but not much for the shareholders. However, the managers are a different Matter. This from Chris Lee...
Sadly for investors there was no increase to dividends in the profit announcement (last increase was June 2016) but what was even more disappointing for investors was the announcement of a 49% increase in the manager’s base management fee to $5.6 million and a 66% jump in the manager’s performance fee to $5.6 million.

[peat]

its looks to me as if something is beginning to happen here with VHP today , as sellers have started backing off and up to much higher levels than recently.

[Filthy]

its looks to me as if something is beginning to happen here with VHP today , as sellers have started backing off and up to much higher levels than recently.

reckon they might be doing a deal with HSO?

[peat]

reckon they might be doing a deal with HSO?

I dont know - Im just looking at price and depth action

[Jaa]

Anyone following the stoush at Vital?

Very disappointed that the board rolled over and agreed to loan $A81m to Northwest to invest in Healthscope. How is this in the best interests of shareholders? VHP is supposed to be a REIT investing in healthcare property not a bank or hospital investor. Completely against their mandate. Where are the so called independent directors?

Now at last, some of our institutions are standing up and fighting back! My units will be voting in favour of all proposals and if the board continues with their ridiculous "shareholders votes don't matter" lets have another vote to get rid of the manager and the board.

ACC, ANZ Investments and Mint Asset Management together own 10 per cent of Vital's units and are challenging NorthWest which owns 25 per cent and is also the manager of the trust's healthcare properties.

ACC property portfolio manager Blair Cooper said over the past three years 22 per cent, 28 per cent and 31 per cent of rental revenue paid to Vital has gone to the manager in fees.

The base fees had soared by 150 per cent over the past six years but unitholders returns only rose 13 per cent.

ACC challenges "outrageous" management fees of Canadian manager of New Zealand hospital and healthcare buildings

Northwest bought Vital’s management contract in 2011 for $11.5 million and has pocketed about $100 million in gross fees since then, an almost 870 percent return on investment over that period.

Over that same period, distributions to unitholders have risen from 8.1 cents per unit to 8.56 cents, a 5.7 percent increase.

Three instos pick a fight over Vital’s fees and management

[RTM]

Thanks Jaa….appreciate the summary. Have been following but not closely, I am a holder (about 30K) and was shocked when I saw a headline recently as to how much NW were taking in fees. How do I vote my units ? Can I assign say ACC as my proxy ?

Anyone following the stoush at Vital?

Very disappointed that the board rolled over and agreed to loan $A81m to Northwest to invest in Healthscope. How is this in the best interests of shareholders? VHP is supposed to be a REIT investing in healthcare property not a bank or hospital investor. Completely against their mandate. Where are the so called independent directors?

Now at last, some of our institutions are standing up and fighting back! My units will be voting in favour of all proposals and if the board continues with their ridiculous "shareholders votes don't matter" lets have another vote to get rid of the manager and the board.

ACC challenges "outrageous" management fees of Canadian manager of New Zealand hospital and healthcare buildings



Three instos pick a fight over Vital’s fees and management

[Jaa]

Thanks Jaa….appreciate the summary. Have been following but not closely, I am a holder (about 30K) and was shocked when I saw a headline recently as to how much NW were taking in fees. How do I vote my units ? Can I assign say ACC as my proxy ?

I received my voting form by email on the 4th, you can fill it out and post or email it back to computershare. No online voting option of course...

I find it a very tricky form and frankly disrespectful to unit holders as is the notice to the AGM. Both clearly bias the board's (Northwest's) opinion through tone, font size, styling and placement of information. The board seems to have forgotten they have a legal obligation to treat all unit holders equally.

I will vote my units FOR Paul Mead as an independent director and AGAINST Graham Stuart. I will also be voting FOR the 5 non-binding unit holder proposals. I also plan to contact my KiwiSaver provider to urge them to do likewise.

Guess we should appoint "Blair Cooper" of "ACC" as our proxy holder?

[RTM]

I received my voting form by email on the 4th, you can fill it out and post or email it back to computershare. No online voting option of course...

I find it a very tricky form and frankly disrespectful to unit holders as is the notice to the AGM. Both clearly bias the board's (Northwest's) opinion through tone, font size, styling and placement of information. The board seems to have forgotten they have a legal obligation to treat all unit holders equally.

I will vote my units FOR Paul Mead as an independent director and AGAINST Graham Stuart. I will also be voting FOR the 5 non-binding unit holder proposals. I also plan to contact my KiwiSaver provider to urge them to do likewise.

Guess we should appoint "Blair Cooper" of "ACC" as our proxy holder?

I was worried you would say that...had a quick look for the documentation earlier. Could not track it down immediately. Buggar !

[777]

Just had a call from VHP suggesting I vote for Stuart. Informed them I had yet to receive the forms. They must be worried.