Reorganisation of Shareholding by Wave Rider Holdings Ltd

GENERAL

Thu, May 08 2025 09:02 am

Radius Residential Care Limited (NZX: RAD) (Radius Care) has been advised by its largest shareholder, Wave Rider Holdings Limited (Wave Rider), that it intends to transfer its 33.47% shareholding in Radius Care to Kade Kings Limited (Kade Kings). Both Wave Rider and Kade Kings are entities associated with Brien Cree, Radius Care’s Executive Chair.

Wave Rider has advised that the transfer of its 33.47% shareholding in Radius Care to Kade Kings is part of a reorganisation of Cree family interests and that Mr Cree will retain his effective control of that shareholding. Kade Kings has advised that the transfer will be completed in reliance on an exemption from the Takeovers Code obtained by Kade Kings.

Radius Care understands the transfer is anticipated to be completed on 22 May 2025, following the release on 21 May 2025 of Radius Care’s results for the 2025 financial year.

ENDS

Media and Investor Contacts
Andrew Peskett
Chief Executive Officer
Phone: +64 21 747 363
Email: [email protected]

Jeremy Edmonds
Chief Financial Officer
Phone: +64 22 650 9354
Email: [email protected]

About Radius Care
Radius Residential Care Limited was founded in 2003 and listed on the NZX in December 2020. Radius Care provides essential healthcare services to elderly New Zealanders, offering the full range of accommodation and care options in communities throughout the country. Today, Radius Care operates 23 aged care facilities, of which it owns 12 and leases 11, and on 30 May 2025, the St Allisa Care Home in Christchurch will become Radius Care’s 24th facility. Four of the owned facilities also include retirement villages and Radius Care’s online shop sells specialist assisted-living products. The company employs over 1,700 people, including highly qualified healthcare staff who are committed to providing the very best in nursing care, and has expanded its services, establishing RConnect, a Nurse and Carer bureau and Home Care provider. A 51% holding in Cibus Catering was acquired in October 2024. Cibus provides menu planning and nutrition management services to the aged care sector, as well as full-service kitchen and food management to 25 care homes across New Zealand, including ten Radius Care sites. For more information visit radiuscare.co.nz or check out our Facebook page @RadiusCareNZ.