Increase in Promisia Facility Valuations for FY24

INCREASE IN PROMISIA FACILITY VALUATIONS FOR FY24

Promisia Healthcare Limited (NZX:PHL) is pleased to advise the market of an increase in the aggregate value of its facilities as at 31 March 2024.

Promisia engaged CBRE to undertake valuations on each of its four facilities as at 31 March 2024 as part of its usual financial reporting processes. Those valuations have now been received and the aggregate result is a valuation increase of approximately $7.0m to $59.4m for Promisia’s facilities. This represents a 13% increase from 31 March 2023.

The key drivers behind this increase are operational efficiencies and improvements that Promisia has achieved at the facilities and Promisia’s successful sell down of occupation rights agreements throughout FY24.

Promisia is currently completing its full year results and they will be released to market on or before 30 May 2024 and will contain further information.

ENDS

Approved for release by Promisia Chair, Rhonda Sherriff.

For media or investor assistance, please contact: Francisco Rodriguez Ferrere, General Manager – Finance, Promisia Healthcare Limited
Phone: +64 21 245 1801 or email: [email protected]

About Promisia Healthcare

Promisia is a New Zealand based aged care and retirement living provider, with a focus on delivering quality personalised care. Our aim is to be the aged care provider of choice in our communities. Our facilities are located in well-established and well serviced towns and metropolitan areas. Our goal is to profitably grow our business in a sustainable manner, delivering quality care to our residents, peace of mind to their families and whanau, and excellent value to our villages, community and shareholders. Promisia is listed on the NZX (NZX: PHL). http://www.promisia.co.nz.

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