Promisia Integrative Limited (PIL)

[artemis]

Small profit reported but should pick up ongoing as income was only for the 5 months since entering the aged care sector. Company is looking at acquiring existing facilities that may have reduced viability. Not even a penny stock atm but share consolidation has been mentioned. Makes sense.

The release said that the number of folk over 75 will double over the next 10 years. Not a bad potential market for the sector, especially as many will be asset rich.

[Jantar]

Small profit reported but should pick up ongoing as income was only for the 5 months since entering the aged care sector. Company is looking at acquiring existing facilities that may have reduced viability. Not even a penny stock atm but share consolidation has been mentioned. Makes sense.

The release said that the number of folk over 75 will double over the next 10 years. Not a bad potential market for the sector, especially as many will be asset rich.

This company nis not very good at keeping shareholders, or the market, informed. The compulsory buy back of small parcels was 2 weeks ago, but we still don't know how many shares were bought or at what price.

A share consolidation mas mentioned at the time they announced the compulsory buy back. Now that has been completed it would be a good time to announce that consolidation.

[The Punter]

Very strong buyer interest, and better still, very few sellers. Could be in for some dam good gains right here.

[The Punter]

Oh dear...wrong thread...NOTE TO SELF; Alcohol and posting on forums don't mix. (was meant to be on a Cooks Global Thread, which I don't think exists)

[artemis]

Holders of a very small number of shares now bought out. Register now reduced from 1,625 to 562. That will chop admin costs.

[nztx]

Holders of a very small number of shares now bought out. Register now reduced from 1,625 to 562. That will chop admin costs.

What happened to the rest ? - did they get diluted completely off the Register due to rounding down
or all decide to donate their small holdings to charity ?


Can't be too much interest in PIL, if even Sharesies have decided it ain't starring on their platform ..

Maybe they will in time if slightly more promise looks a prospect ..

[artemis]

What happened to the rest ? - did they get diluted completely off the Register due to rounding down
or all decide to donate their small holdings to charity ?

Small shareholders were paid out based on recent weighted share price with in addition a donation made by the company to Kidscan.

The company is now in the retirement sector, with some experience behind it. Others in the sector have done well.

[tango]

Promisia Healthcare Interim Results 03:04p.m.
PHL
29/11/2021 15:04
HALFYR
PRICE SENSITIVE
REL: 1504 HRS Promisia Healthcare Limited

HALFYR: PHL: Promisia Healthcare Interim Results

Market Announcement

29 November 2021

PROMISIA HEALTHCARE INTERIM RESULTS

For the six months ended 30 September 2021

Aged care provider, Promisia Healthcare Limited (NZX: PHL) has reported its
unaudited results for the six months to 30 September 2021.

The company commenced operation as an aged care business in October 2020. The
prior comparative period of the 15 months to 31 March 2021 reflects 5 months
of trading as an aged care provider. The 6 months to 30 June 2020 reflects
discontinued operations only.

Promisia has a diversified growth strategy focused on facility development,
broadening its revenue mix and acquisition of further aged care and
retirement village facilities, particularly in provincial areas.

The company currently has a portfolio of four aged care facilities (three
owned and one leased), focused on rest home and hospital services, including
high needs and specialised aged care. During the recent COVID lockdowns and
restrictions, the priority has been on delivering quality care and ensuring
the safety of residents, particularly given the higher care needs of many
residents. All on-site staff are fully vaccinated and robust health and
safety protocols are in place.

During the six month period, the company's leadership team was strengthened
with the appointment of Chris Brown as CEO from 23 August 2021 and Angie
Mehlhopt as the group's Financial Accountant in July 2021. The new executive
team is focused on integrating and establishing systems across the group and
executing Promisia's growth strategy.

Good progress has been made on the development at Ranfurly Manor in Fielding
which comprises 32 villas and 10 care suites. The care suites are due to be
completed in the next two weeks and sales and marketing of these suites is
now underway. Eight villas have been sold. The first four villas are expected
to be ready for occupancy at the end of January 2022, a further four villas
are currently under construction with another four about to commence.

Construction is being carried out at no capital cost to PHL, with the
purchase price to be paid to the developer (Colspec) from proceeds of the
initial sale of an ORA for each new villa or care suite.

Rooms are also being opened progressively at Promisia's newest facility,
Aldwins House in Christchurch, as demand grows which is currently at a slower
rate than anticipated. New management and clinical teams have been put in
place and a range of opportunities are being investigated to grow demand and
minimise outgoings. Discussions with the landlord to acquire the building are
ongoing. Occupancy levels at Promisia's other facilities remain strong.

CEO of Promisia, Chris Brown, said: "The team has done an outstanding job
during yet another challenging period, as we focused on keeping our residents
well cared for and safe during the latest COVID restrictions. Our immediate
focus is on growing occupancy and revenue at our existing facilities,
particularly Aldwins House, and building our systems infrastructure to
support growth. The development at Ranfurly Manor is progressing well and we
are looking forward to welcoming new residents into these care suites and
villas in the next few months."

Chair of Promisia, Stephen Underwood, said: "It is a year since the
successful acquisition of the aged care business. This acquisition has
enabled us breathe new life into Promisia and provide a good platform for
growth.

The aged care sector is projected to grow strongly over the next ten years,
particularly for higher needs and specialised care. Provincial communities
are often under-resourced in terms of aged care. Promisia is a valued part of
the communities where it is located and provincial New Zealand will remain a
focus for us. Acquisitions continue to be considered based on quality,
geographic and cultural fit, demand for services, growth potential and
contribution to profitability. We are pleased to have a new leadership team
in place and we are building our business to capitalise on long term demand."

Financial Performance

Revenue for the six months was $8.8m and is expected to grow as occupancy
levels (particularly at Aldwins House) and ORA sales increase. The company
reported a net loss from continuing operations of $111,000, with a total loss
from continuing and discontinuing operations of $92,000. As at 30 September
2021, total assets were $57.0m, net debt was $17.5m and the company had cash
and cash equivalents of $1.2m.

As disclosed previously, during the period Promisia concluded a constructive
dialogue with its banking partner, BNZ, regarding its banking covenants. The
BNZ advised that no actions would be taken in respect of the EBITDA /
Interest covenant breaches in the June and September 2021 quarters (although
BNZ reserves all of its rights with respect to the breaches); and has
provided a waiver and removed the Total Debt / Total Assets covenant as an
ongoing requirement.

[Charlie]

Andrew has worked in New Zealand, United Kingdom and Australian property
markets for 20 years.
He spent 13 years at Ryman Healthcare as a Senior Executive and Chief
Development Officer
overseeing the acquisition, consenting and development process throughout
Australasia. During this
period, rapid acquisition and development saw the market capitalisation
increase from $750m to
over $7 billion.

as at 15:59:07, Thursday 23 December, 2021 (NZDT)
ACQUISITION OF ALDWINS HOUSE AND DIRECTOR APPOINTMENT
PHL
23/12/2021 15:59
TRANSACT
PRICE SENSITIVE
REL: 1559 HRS Promisia Healthcare Limited

This could be good for the company.

[airedale]

Does Andrew have a surname?