Promisia Healthcare Interim Results

Market Announcement
25 November 2024
PROMISIA HEALTHCARE HY25 INTERIM RESULTS
Significant strategic progress; momentum continuing
• Strategic growth with acquisition of Golden View Lifestyle Village and Ripponburn Home and
Hospital in Cromwell on 29 August 2024
• Refinancing with BNZ with improved terms and tenure, and repayment of second-tier debt
and Senior Trust loans
• Successful capital raise, share/warrant consolidation and sale of Eileen Mary facility enabling
growth and delivering improvement in key debt and liquidity measures
• Record first half operating revenue and a positive uplift in operating profit
1
compared to
prior comparative period (pcp)
• Significant uplift in Net Tangible Assets (NTA) to 72 cents per share, up 57% on pcp
• FY25 guidance of significant uplift in revenue with EBITDAF
2
expected to be upwards of
$4.2m (FY24: $3.8m)

Promisia Healthcare Limited (NZX: PHL, "Promisia") has announced its unaudited results for the six
months ended 30 September 2024 (HY25).
The first half of the FY25 financial year has delivered a step change in Promisia’s strategic growth,
with a successful $4.7m capital raising and share/warrant consolidation, the acquisition of two
facilities in Cromwell, and the sale of the Eileen Mary village in Dannevirke.
In addition, the Board announced several changes with the appointment of Tony Mortensen as a
non-independent director, and Jill Hatchwell being reappointed while the Board undertakes a
considered recruitment process. Director Craig Percy’s role has been expanded to provide
operational support to Promisia, with a particular emphasis on integrating the newly acquired
Cromwell facilities into the group.
Chair Rhonda Sherriff said: “It has been a very busy six months, as we have expanded our network in
line with our strategy to acquire larger scale aged care facilities in regions with growth populations.
“We are incredibly excited about the addition of two Cromwell facilities to our portfolio, which have
been value accretive since day one. These are in a region with high demand and a strong resales
pipeline. We are moving quickly to integrate the facilities into our group and realise synergies. This
will allow Promisia to realise its future growth aspirations for the Central Otago region.
“We were also pleased to recently conclude the sale of the Eileen Mary facility in Dannevirke for
$6.1m, which allowed capital to be recycled into our Cromwell acquisitions through bridge financing
with BNZ. The Masonic Villages Trust is a very experienced aged care provider and will be a quality
owner for staff and residents.

1
From continuing operations and excluding gain on bargain purchase
2
EBITDAF is operating earnings before interest, tax, depreciation, amortisation and fair value adjustments on investment
properties and is a non-GAAP number.

“We have made strong progress on our other strategic pathways – building a stronger business,
diversifying revenue streams, and maximising occupancy. Our growth strategy is delivering on its
potential, with significant value uplifts across our Ranfurly Manor and Aldwins Road facilities as at 31
March 2024. With a continued operating efficiency focus, we can unlock further value.
“There is no doubt that the landscape for seniors in New Zealand is changing and under funding by
Health NZ is presenting the aged care sector with serious challenges. Promisia is not alone in
needing to ensure its business model is sustainable. We remain committed to delivering quality,
personalised care and have continued to invest in our people, clinical training, systems and
processes as we continue to enhance our care delivery.”

HY25 Results
The HY25 results include one month contribution from the Cromwell facilities and have been
restated to exclude Eileen Mary, which was being held for sale and has since sold. A $5.2m gain has
been realised on the purchase of the Cromwell facilities and is treated as revenue in the HY results.
For the six month period, operating revenue (excluding the gain on purchase) grew 18% to $13.0m.
This was driven by an improvement in bed occupancy across the group as a result of continuously
improving clinical standards and quality of care, as well as achievement of Young Persons Disability
(YPD) certification in early 2024 for Aldwins House. All new villas at Ranfurly Manor have now been
sold, completing the payback of initial ORA proceeds to the developer. All future resales of these
villas will contribute to Promisia’s cashflows.

Total costs increased 12% on pcp to $12.8m, mainly as a result of increased occupancy across the
group. Administration costs have decreased significantly in the period, down 20%, with a continued
focus on disciplined cost management.
Excluding the gain on purchase, EBITDAF of $1.9m was a pleasing 56% increase compared to pcp.
Net profit before tax also returned to positive territory, with a $0.7m improvement on pcp to $0.3m
for the six months.
Including the gain on purchase, profit before tax was $5.5m for the six months with a profit after tax
of $5.8m (HY24: $(0.2)m).
Net assets including the new Cromwell facilities and Eileen Mary were $35.2m at period end (up 77%
on pcp), with borrowings increasing to $46.8m as a result of the Cromwell transaction. Liquidity has
improved, with cash and undrawn facilities of $1.5m at period end. Net Tangible Assets per share
increased to 72 cents per share, up 57% year on year. The share register was strengthened following
the capital raise in July 2024 and a 500:1 share/warrant consolidation in September.

Outlook
The priority focus for 2H25 is integration of the two Cromwell facilities into the group, with
efficiencies and cost savings expected as synergies are realised.
Promisia expects a significant uplift in earnings in 2H25, with double digital earnings growth from
existing operations and further gains from the addition of the Cromwell facilities. The Group is
expecting EBITDAF to be upwards of $4.2m for FY25 (FY24: $3.8m).
ENDS

Authority for this announcement:
Rhonda Sherriff, Chair, Promisia Healthcare Limited

For more information, please contact:
Francisco Rodriguez Ferrere, General Manager – Finance, Promisia Healthcare Limited
Phone: +64 21 245 1801 or email: Francisco.rf@promisia.co.nz

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). www.promisia.com

---

Interim Report
FOR THE SIX MONTHS
ENDED 30 SEPTEMBER 2024

Half Year At A Glance 4
Chair’s Report 5
Unaudited Consolidated Interim Financial Statements
Condensed Consolidated Statement of Comprehensive Income 8
Condensed Consolidated Statement of Financial Position 9
Condensed Consolidated Statement of Changes in Equity 11
Condensed Consolidated Statement of Cash Flows 12
Notes to the Condensed Consolidated Statements 13
Directory 31
23
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

Half Year At A Glance
For the six months ending 30 September 2024
The first half of the FY25 financial year has
delivered a step change in Promisia’s strategic
growth and momentum is continuing.
Strategic Progress
• Acquisition of Golden View Lifestyle Village and
Ripponburn Home and Hospital in Cromwell on
29 August 2024
• Sale of Eileen Mary care facility and village
(settled in November 2024)
• Refinancing with BNZ with improved terms and
tenure, and repayment of second-tier debt and
Senior Trust loans
• Successful capital raise, share/warrant
consolidation enabling growth and delivering
improvement in key debt and liquidity measures
Financial Snapshot
• Record first half operating revenue of $13.0m,
▲ 18% on pcp
• Gain on purchase of Cromwell facilities of $5.2m
• Significant uplift in Net Tangible Assets (NTA)
to 72 cents per share, ▲ 57% on pcp
• Profit after tax of $5.8m
FY25 guidance of a significant uplift in revenue,
with earnings (EBITDAF
1
) expected to be upwards
of $4.2m (FY24: $3.8m)
Promisia is a New Zealand based
aged care and retirement living
provider, with a focus on delivering
care that makes a difference.
Our operational and financial
performance is framed by our
four strategic pathways: Creating
a stronger business; Maximise
occupancy; Diverse revenue
streams; Network expansion.
1
EBITDAF is operating earnings before interest, tax, depreciation,
amortisation and fair value adjustments and is a non-GAAP number.
Chair’s Report
Dear Shareholder
I am pleased to report to you on Promisia’s strategic and
financial performance over the first six months of the
FY25 financial year.
It has been a very busy period, as we have continued
to deliver on our strategic pathways. In particular, we
have achieved a step change in our growth plans, with
the expansion of our network in line with our strategy to
acquire larger scale aged care facilities in regions with
growth populations.
We are incredibly excited about the addition of two
Cromwell facilities to our portfolio, which have been
value accretive since day one. These are in a region with
high demand and a strong resales pipeline is in place.
We are moving quickly to integrate the facilities into our
group and realise synergies. This will allow Promisia
to realise its future growth aspirations for the Central
Otago region.
We were also pleased to recently conclude the sale
of the Eileen Mary facility in Dannevirke for $6.1m,
which allowed capital to be recycled into our Cromwell
acquisitions through bridge financing with BNZ. The
Masonic Villages Trust is a very experienced aged
care provider and will be a quality owner for staff and
residents.
We have made strong progress on our other strategic
pathways – building a stronger business, diversifying
revenue streams, and maximising occupancy. Our
growth strategy is delivering on its potential, with
significant value uplifts across our Ranfurly Manor and
Aldwins Road facilities as at 31 March 2024. With a
continued focus on operating efficiency, we can unlock
further value.
All new villas at Ranfurly Manor have now been sold,
completing the payback of initial ORA proceeds to
the developer. All future resales of these villas will
contribute to Promisia’s cashflows.
The share register was strengthened following the
capital raise in July 2024 and a 500:1 share/warrant
consolidation in September. This has benefited
shareholders, with the introduction of a strategic
investor to our register and increased market liquidity.
Delivering Quality Care
There is no doubt that the landscape for seniors in New
Zealand is changing and under-funding by Health NZ is
presenting the aged care sector with serious challenges.
Promisia is not alone in needing to ensure its business
model is sustainable.
We remain committed to delivering quality, personalised
care to meet the needs of our clients. We have continued
to invest in our people, clinical training, systems and
processes as we prioritise the ongoing enhancement of
our care delivery.
Financial Performance
The HY25 results include one month contribution
from the Cromwell facilities and have been restated
to exclude Eileen Mary, which was being held for sale
and has since sold. A $5.2m gain was realised on the
purchase of the Cromwell facilities and is treated as
revenue in the HY results.
For the six month period, operating revenue (excluding
the gain on purchase) grew 18% to $13.0m. This was
driven by an improvement in bed occupancy across
the group as a result of continuously improving clinical
standards and quality of care, as well as achievement
of Young Persons Disability (YPD) certification in early
2024 for Aldwins House.
Total costs increased 12% on prior comparative period
(pcp) to $12.8m, mainly as a result of increased
occupancy across the group. Administration costs have
decreased significantly in the period, down 20%, with a
continued focus on disciplined cost management.
Excluding the gain on purchase, EBITDAF of $1.9m
was a pleasing 56% increase compared to pcp. Net
profit before tax also returned to positive territory,
with a $0.7m improvement on pcp to $0.3m for the six
months.
Including the gain on purchase, profit before tax was
$5.5m for the six months with a profit after tax of $5.8m
(HY24: $(0.2)m).
45
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

We will continue to focus on bed occupancy, particularly
at Aldwins House as we build on the strong base
established over the last 12 months.
To this end, we expect a significant uplift in earnings in
2H25, with double digital earnings growth from existing
operations and further gains from the addition of the
Cromwell facilities. Group EBITDAF is expected to be
upwards of $4.2m for FY25 (FY24: $3.8m).
Shareholders will also benefit from operational
improvements underway which are expected to have a
positive impact on valuations.

Ngā mihi
Rhonda Sherriff
Chair
Net assets including the new Cromwell facilities and
Eileen Mary were $35.2m at period end (up 77% on
pcp), with borrowings increasing to $46.8m as a result
of the Cromwell transaction. Liquidity has improved,
with cash and undrawn facilities of $1.5m at period end.
Net Tangible Assets per share increased to 72 cents
per share, up 57% year on year. The share register was
strengthened following the capital raise in July 2024
and a 500:1 share/warrant consolidation in September.
Governance
There have been several changes to the Board with the
appointment of Tony Mortensen as a non-independent
director, and Jill Hatchwell being reappointed while your
Board undertakes a considered recruitment process.
Our view is that five directors, with a diverse range of
skills that will best enable execution of PHL’s growth
strategy, is appropriate. Director Craig Percy’s role
has been expanded to provide operational support to
Promisia, with a particular emphasis on integrating the
newly acquired Cromwell facilities into the Group.
Outlook
The priority focus for the second half of our financial
year is integration of the two Cromwell facilities
into the group. Efficiencies and cost savings are
expected as synergies are realised. There is strong
demand in the wider Central Otago region and we are
currently assessing future growth and development
opportunities.
Unaudited Consolidated Interim
Financial Statements
FOR THE SIX MONTHS ENDED
30 SEPTEMBER 2024
67
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

The accompanying notes form part of these condensed consolidated financial statements.

Compiled without undertaking an audit or review, refer to the Compilation Report on page 2
- 3 -



CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024


Note
30 September
2024
UNAUDITED
30 September
2023
(Re-presented)*
UNAUDITED
$ '000 $ '000


Revenue and other income
Revenue



13,046


11,059
Gain on a bargain purchase

5,181 -

18,227 11,059
Less: expenses
Administration expenses



(1,466)


(1,832)
Operational expenses

(9,727) (8,036)
Depreciation

(156) (379)
Finance costs

(1,431) (1,199)

(12,780) (11,446)
Profit / (loss) before income tax expense / (benefit)

5,447 (387)
Income tax expense

(97 ) (13 )
Net profit / (loss) from continuing operations

5,350 (400)
Net profit from discontinued operations 12(a) 435 248
Profit / (loss) for the period

5,785 (152 )
Other comprehensive income

- -
Total comprehensive income / (loss)

5,785 (152 )


Earnings per share (cents per share)


Basic earnings per share from continuing operations

8

23.4810

(1.8610)
Diluted earnings per share from continuing operations

8

22.4137

(1.8610)

Basic earnings per share from discontinued operations 8 1.9092 1.1538
Diluted earnings per share from discontinued operations

8

1.8224

1.1538



*Comparative information has been re-presented due to a discontinued operation and the earnings per
share has been restated due to a share consolidation of 500 to 1.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 30 September 2024
The accompanying notes form part of these condensed consolidated financial statements.
















 





 







!


#


PROMISIA HEALTHCARE LIMITED

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2024
30 September

2024
Note UNAUDITED
$ '000
30 September

2023
UNAUDITED
$ '000
31 March

2024
AUDITED

$ '000




Assets
Cash and cash equivalents



61


364


118
Trade receivables and other assets

2,573 2,279 1,890
Related party advances 10 - 145 -
Current tax assets

8 7 6
Assets classified as held for sale 12(c) 10,046 - -
Property, plant and equipment 2 22,262 17,701 21,319
Investment properties 3 158,392 52,646 61,012
Deferred tax assets

- 472 -
Total assets

193,342 73,614 84,345

Liabilities

Trade and other payables

4,603 3,453 3,584
Revenue received in advance

2,728 1,649 2,288
Related Party Payables 10 175 175 175
Liabilities directly associated with assets
classified as held for sale

12(c)

8,352

-

-
Borrowings 4 46,810 30,431 29,155
Deferred tax liabilities

2,433 - 2,251
Occupation right agreements 5 87,004 17,970 22,012
Convertible notes 6 6,000 - -
Total liabilities

158,105 53,678 59,465
Net assets

35,237 19,936 24,880
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 September 2024
The accompanying notes form part of these condensed consolidated financial statements.
89
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 September 2024
PROMISIA HEALTHCARE LIMITED
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023
Note
30 September
2023
UNAUDITED
30 September
2022
UNAUDITED
31 March
2023
AUDITED
$ '000$ '000$ '000
Assets
Cash and cash equivalents3642,2162,059
Trade receivables and other assets2,2792,2051,827
Related party advances8145538145
Current tax assets7-6
Property, plant and equipment217,70117,25117,910
Investment properties352,64643,27549,320
Deferred tax assets472394494
Total assets73,61465,87971,761
Liabilities
Trade and other payables3,4533,2353,695
Revenue received in advance1,6491,1131,472
Current tax liabilities-169-
Related party payables8175-175
Borrowings430,43129,84730,872
Occupancy rights agreements17,97012,55415,459
Total liabilities53,67846,91851,673
Net assets
19,93618,96120,088
Equity
Share capital577,42677,27677,426
Reserves6(50)(717)(50)
Accumulated losses(57,440)(57,598)(57,288)
Total equity
19,93618,96120,088
Net tangible asset backing per share (cents) 0.0910.0870.092
Signed
on behalf of the board of directors, dated
Director:
Rhonda Sherriff
Director:
Thomas Brankin
The accompanying notes form part of these condensed consolidated financial statements.
- 3 -
Signed on behalf of the board of directors, dated 25 November 2024
The accompanying notes form part of these condensed consolidated financial statements.
















 





 







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$


PROMISIA HEALTHCARE LIMITED

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2024
30 September

2024
Note UNAUDITED
$ '000
30 September

2023
UNAUDITED
$ '000
31 March

2024
AUDITED

$ '000




Equity

Share capital 7 82,039 77,426 77,467
Reserves

3,066 (50) 3,066
Accumulated losses

(49,868) (57,440) (55,653)
Total equity

35,237 19,936 24,880



Net tangible asset backing per share (dollars) 0.72 0.46* 0.63*



*Comparative information has been restated due to a share consolidation of 500 to 1.





Signed on behalf of the board of directors, dated






Director:


Rhonda Sherriff
Director:


Thomas Brankin
















 





 







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%


PROMISIA HEALTHCARE LIMITED

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024




Contributed

Accumulated

Note

equity

$ '000
Reserves

$ '000
Losses

$ '000
Total equity

$ '000


Consolidated

Balance as at 1 April 2023



77,426



(50)



(57,288)



20,088
Loss for the period - - (152) (152)
Other comprehensive income for

the period

-

-

-

-

Total comprehensive income for

the period

-

-

(152)

(152)

Balance as at 30 September 2023
(UNAUDITED)


77,426


(50 )


(57,440)


19,936




Balance as at 1 April 2024

77,467 3,066 (55,653) 24,880
Profit for the period

- - 5,785 5,785
Other comprehensive income for

the period


-

-

-

-

Total comprehensive income for

the period

-

-

5,785

5,785


Transactions with owners in their

capacity as owners:


Contributions 7 4,572 - - 4,572
Total transactions with owners in

their capacity as owners


4,572

-

-

4,572

Balance as at 30 September 2024
(UNAUDITED)



82,039


3,066


(49,868)


35,237
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended 30 September 2024
The accompanying notes form part of these condensed consolidated financial statements.
1011
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
For the six months ended 30 September 2024
The accompanying notes form part of these condensed consolidated financial statements.

Compiled without undertaking an audit or review, refer to the Compilation Report on page 2
- 7 -
PROMISIA HEALTHCARE LIMITED

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2024





Note
30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
$ '000 $ '000


Cash flow from operating activities
Receipts from residents for care fees and services 14,559 12,512
Receipts of residents' loans from new sales 1,186 4,033
Payments to suppliers and employees (12,851) (12,247)
Repayments of residents' loans (161 ) (883)
Interest paid (1,318) (1,339)
Income tax received / (paid) 67 (2)
Net cash provided by operating activities 1,482 2,074


Cash flow from investing activities
Payment for property, plant and equipment (193 ) (177)
Payment for investment property (978 ) (3,326)
Payment for acquisition of subsidiaries, net of cash acquired (13,778) -
Net cash used in investing activities (14,949) (3,503)


Cash flow from financing activities
Net proceeds from share issue 7 4,572 -
Net proceeds from / (repayment of) borrowings 8,838 (266 )
Net cash provided by / (used in) financing activities 13,410 (266 )


Reconciliation of cash
Cash at beginning of the financial period 118 2,059
Net decrease in cash held (57 ) (1,695)
Cash at end of financial period
61 364
The accompanying notes form part of these condensed consolidated financial statements.



 






 
  
 


 

 


 
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Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 8 -




NOTE 1: STATEMENT OF MATERIAL ACCOUNTING POLICIES

The condensed consolidated financial statements presented are those of Promisia Healthcare Limited (the
Company), and its subsidiaries (the Group). Promisia Healthcare Limited is a profit-oriented entity
incorporated in New Zealand. Promisia Healthcare Limited’s principal activities are the ownership and
operation of retirement villages, rest homes, and hospitals for the elderly within New Zealand.

Promisia Healthcare Limited is a Financial Markets Conduct Act reporting entity under the Financial
Reporting Act 2013 and the Financial Markets Conduct Act 2013.

These condensed consolidated financial statements have been approved for issue by the Board of Directors
on 25 November 2024.



(a) Basis of preparation of the condensed financial report

The condensed consolidated financial statements comprise the following: condensed consolidated
statement of comprehensive income, condensed consolidated statement of financial position, condensed
consolidated statement of changes in equity, condensed consolidated statement of cash flows, and
condensed accounting policies and notes to the condensed consolidated financial statements.

These condensed consolidated financial statements have been prepared in accordance with NZ IAS 34
Interim Financial Reporting, and should be read in conjunction with the Groups' last consolidated financial
statements as at and for the year ended 31 March 2024 (‘last annual financial statements’). These do not
include all of the information required for a complete set of NZ IFRS financial statements. However,
selected explanatory notes are included to explain events and transactions that are significant to an
understanding of changes in the Groups' financial position and performance since the last consolidated
financial statements.

The Group's accounting policies have been applied consistently to all periods presented in these condensed
financial statements.

The information is presented in New Zealand dollars, the Group’s functional and presentation currency, and
rounded to the nearest thousand dollars unless stated otherwise.

There is no seasonality or cyclically of the operations.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
1213
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 9 -




NOTE 1: STATEMENT OF MATERIAL ACCOUNTING POLICIES (CONTINUED)
(b) Going concern
The consolidated financial statements have been prepared on a going concern basis, which contemplates
continuity of normal business activities and the realisation of assets and the settlement of liabilities in the
ordinary course of business.

The Directors are comfortable that based on the historic performance, detailed cash flow projections, and
the support provided by shareholders, the Group will be able to meet its cash flow requirements as they fall
due.

It is the continuing opinion of the board of directors that there are reasonable grounds to believe that its
operational and financial plans in place are achievable, and accordingly the Group is able to continue as a
going concern and meet its debts as and when they fall due. Accordingly, use of the going concern
assumption remains appropriate in these circumstances.



(c ) Business combinations

A business combination is a transaction or other event in which an acquirer obtains control of one or more
businesses and results in the consolidation of the assets and liabilities acquired. Business combinations are
accounted for by applying the acquisition method.

The consideration transferred is the sum of the acquisition date fair values of the assets transferred, equity
instruments issued or liabilities incurred by the acquirer to former owners of the acquiree. Deferred
consideration payable is measured at its acquisition date fair value. Contingent consideration to be
transferred by the acquirer is recognised at the acquisition date fair value. At each reporting date
subsequent to the acquisition, contingent consideration payable is measured at its fair value with any
changes in the fair value recognised in profit or loss unless the contingent consideration is classified as
equity, in which case the contingent consideration is measured at its acquisition date fair value.

Goodwill is initially recognised at an amount equal to the excess of: (a) the aggregate of the consideration
transferred, the amount of any non-controlling interest, and the acquisition date fair value of the acquirer’s
previously held equity interest (in the case of a step acquisition); over (b) the net fair value of the
identifiable assets acquired and liabilities assumed. For accounting purposes, such measurement is treated
as the cost of goodwill at that date.

If the net fair value of the acquirer's interest in the identifiable assets acquired and liabilities assumed is
greater than the aggregate of the consideration transferred, the amount of any non-controlling interest,
and the acquisition date fair value of the acquirer’s previously held equity interest, the difference is
immediately recognised as a gain in profit or loss.

Acquisition related costs are expensed as incurred.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 10 -




NOTE 1: STATEMENT OF MATERIAL ACCOUNTING POLICIES (CONTINUED)
(d) Assets & liabilities of disposal group held for sale
Non -current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is
highly probably that they will be recovered primarily through sale rather than through continuing use.

Such assets, or disposal groups, are generally measured at the lower of their carrying amount and the fair
value less cost to sell. Any impairment loss on a disposal group is allocated first to goodwill and then to the
remaining assets and liabilities on a pro rata basis, except that no loss is allocated to inventories, financial
assets, deferred tax assets, employee benefit assets and investment property which continue to be
measured in accordance with the Group's other accounting policies. Impairment losses on initial
classification as held for sale or held for distribution and subsequent gains and losses on remeasurement
are recognised in profit or loss.

Once classified as held for sale, intangible assets and property, plant and equipment are no longer
amortised or depreciated.



(e) Discontinued operations

A discontinued operation is a component of the Group that has been disposed of in the current, or prior,
reporting period or is classified as held for sale at the reporting date, and that represents a separate major
line of business or geographical area of operations, is part of a single coordinated plan to dispose of such a
line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The
results of discontinued operations are disclosed separately in the condensed consolidated statement of
comprehensive income.



(f) Segment reporting

The Group operates a number of rest homes and retirement villages. These facilities all provide a similar
product to a similar customer in the same regulatory environment.

The Group operates in one operating segment being the provision of aged care in New Zealand. The chief
operating decision maker, the Board of Directors, reviews the operating results on a regular basis and
makes decisions on resource allocation based on the review of Group results and cash flows as a whole.

Therefore, it is appropriate to report solely on the Group performance.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
1415
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- -





Note
30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
31 March
2024
AUDITED
$ '000 $ '000 $ '000


NOTE 2: PROPERTY, PLANT AND EQUIPMENT


Land and buildings
At fair value 21,209 17,262 21,185
Accumulated depreciation (1,135) (927 ) (1,135)
20,074 16,335 20,050


Plant and equipment

At cost 3,188 1,901 2,013
Accumulated depreciation (1,000) (535 ) (744 )
2,188 1,366 1,269
Total property, plant and equipment
22,262 17,701 21,319


(a) Reconciliations

Reconciliation of the carrying amounts of property, plant
and equipment at the beginning and end of the current
financial period


Land and buildings at fair value
Opening carrying amount 20,050 16,547 16,547
Additions 24 5 25
Net amount of revaluation increments less
decrements - - 3,899
Depreciation expense - (217 ) (421 )
Closing carrying amount
20,074 16,335 20,050



Plant and equipment at cost
Opening carrying amount 1,269 1,363 1,363
Additions 169 172 300
Disposals - - (13)
Acquisitions through business combinations 979 - -
Depreciation expense (156 ) (169 ) (381)
Reclassified as held for sale or held in disposal 12 (73 ) - -
Closing carrying amount
2,188 1,366 1,269
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- -





Note
30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
31 March
2024
AUDITED
$ '000 $ '000 $ '000


NOTE 2: PROPERTY, PLANT AND EQUIPMENT


Land and buildings
At fair value 21,209 17,262 21,185
Accumulated depreciation (1,135) (927 ) (1,135)
20,074 16,335 20,050


Plant and equipment

At cost 3,188 1,901 2,013
Accumulated depreciation (1,000) (535 ) (744 )
2,188 1,366 1,269
Total property, plant and equipment
22,262 17,701 21,319


(a) Reconciliations

Reconciliation of the carrying amounts of property, plant
and equipment at the beginning and end of the current
financial period


Land and buildings at fair value
Opening carrying amount 20,050 16,547 16,547
Additions 24 5 25
Net amount of revaluation increments less
decrements - - 3,899
Depreciation expense - (217 ) (421 )
Closing carrying amount
20,074 16,335 20,050



Plant and equipment at cost
Opening carrying amount 1,269 1,363 1,363
Additions 169 172 300
Disposals - - (13)
Acquisitions through business combinations 979 - -
Depreciation expense (156 ) (169 ) (381)
Reclassified as held for sale or held in disposal 12 (73 ) - -
Closing carrying amount
2,188 1,366 1,269
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- -





Note
30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
31 March
2024
AUDITED
$ '000 $ '000 $ '000


NOTE 2: PROPERTY, PLANT AND EQUIPMENT


Land and buildings
At fair value 21,209 17,262 21,185
Accumulated depreciation (1,135) (927 ) (1,135)
20,074 16,335 20,050


Plant and equipment

At cost 3,188 1,901 2,013
Accumulated depreciation (1,000) (535 ) (744 )
2,188 1,366 1,269
Total property, plant and equipment
22,262 17,701 21,319


(a) Reconciliations

Reconciliation of the carrying amounts of property, plant
and equipment at the beginning and end of the current
financial period


Land and buildings at fair value
Opening carrying amount 20,050 16,547 16,547
Additions 24 5 25
Net amount of revaluation increments less
decrements - - 3,899
Depreciation expense - (217 ) (421 )
Closing carrying amount
20,074 16,335 20,050



Plant and equipment at cost
Opening carrying amount 1,269 1,363 1,363
Additions 169 172 300
Disposals - - (13)
Acquisitions through business combinations 979 - -
Depreciation expense (156 ) (169 ) (381)
Reclassified as held for sale or held in disposal 12 (73 ) - -
Closing carrying amount
2,188 1,366 1,269
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 2 -







NOTE 3: INVESTMENT PROPERTIES

During the period, investment properties have increased from $61.012m at 31 March 2024 to $158.392m
at 30 September 2024 being an increase of $97.380m (2024: Increased from $49.320m at 31 March 2023 to
$52.646m at 30 September 2023 being an increase of $3.326m). This movement relates to the Cromwell
acquisitions (refer note 11), assets classified held for sale (refer note 12).


30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
31 March
2024
AUDITED


NOTE 4: BORROWINGS
$ '000 $ '000 $ '000

Current
Unsecured liabilities
Other loans 2,400 1,430 6,613
Secured liabilities
Bank loans 8,233 9,500 11,015
10,633 10,930 17,628

Non- current
Secured liabilities
Bank loans 21,321 9,001 7,527
Other loans 14,856 10,500 4,000

36,177 19,501 11,527
46,810 30,431 29,155

BNZ Loans
Term loans are secured by first mortgage security over the aged care facilities. BNZ loans consist of the
following facilities:
Maturity date Interest rate Facility
($'000)
Drawn
($'000)
Undrawn
($'000)
As at 30 September 2024

31 March 2025 8.62% 7,500 7,500 -
30 October 2025 2.29% 784 784 -
9 March 2026 8.57% 700 700 -
14 August 2026 8.28% 1,170 1,170 -
14 August 2026 7.13% 7,500 7,500 -
20 August 2026 7.59% 11,900 11,900 -

29,554 29,554 -
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
1617
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 13 -




NOTE 4: BORROWINGS (CONTINUED)


Maturity date

Interest rate Facility Drawn Undrawn

($'000)

($'000)

($'000)

As at 30 September 2023

20 October 2023

9.79%

9,500

9,500

-
31 March 2025 9.25% 7,500 7,500 -
30 October 2025 2.29% 1,501 1,501 -

18,501 18,501 -

Maturity date Interest rate Facility Drawn Undrawn
($'000) ($'000) ($'000)
As at 31 March 2024

18 October 2024 9.77% 9,500 9,135 365
31 March 2025 9.25% 7,500 7,500 -
30 October 2025 2.29% 1,207 1,207 -
9 March 2026 9.17% 700 700 -

18,907 18,542 365

There is an all obligations unlimited interlocking company guarantee between the following entities in the
Group; Eileen Mary Age Care Limited, Promisia Healthcare Limited, Aged Care Holdings Limited, Ranfurly
Manor Limited, Nelson Street Resthome Limited, Aldwins House Limited and Aldwins Retirement Village
Limited, Golden View Care Limited, Thyme Care Limited and Thyme Care Properties Limited.

Other Loans consists of:

Insurance premium funding
Funding was provided by Hunter Premium Funding for the payment of insurance premiums.

Vendor loan
On acquisition of Golden View Care and Golden View Lifestyle Village, a term loan of $13.350m was entered
into with the vendor. The loan is interest free and comprises a non-refundable deposit of $8.640m to be paid
in 48 monthly installments of $0.180m and a final payment of $4.710m to be paid on completion date (refer
note 11). On the acquisition date, $0.180m of the loan was repaid. The balance of the loan at 30 Sept
2024 was $12.990m.

Senior Trust Retirement Village Income Generator Limited
A term loan of $6.500m held with Senior Trust Retirement Village Income Generator Limited was repaid in
full during the period.

Teltower Limited Loan
A term loan of $3.900m (30 Sept 2023: $4.000m, 31 March 2024: $4.000m) is held with Teltower Limited.
This loan has an interest rate of 6.0% p.a. (30 Sept 2023: 6.0% p.a, 31 March 2024: 6.0% p.a). Principal
repayments are effective from 1 April 2024 at $20,000 per month, with full repayment of the residual
balance on 1 April 2027. The loan is secured by the present properties at 56 McPhee Street, Dannevirke and
62 Aldwins Road, Phillipstown.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 13 -




NOTE 4: BORROWINGS (CONTINUED)


Maturity date

Interest rate Facility Drawn Undrawn

($'000)

($'000)

($'000)

As at 30 September 2023

20 October 2023

9.79%

9,500

9,500

-
31 March 2025 9.25% 7,500 7,500 -
30 October 2025 2.29% 1,501 1,501 -

18,501 18,501 -

Maturity date Interest rate Facility Drawn Undrawn
($'000) ($'000) ($'000)
As at 31 March 2024

18 October 2024 9.77% 9,500 9,135 365
31 March 2025 9.25% 7,500 7,500 -
30 October 2025 2.29% 1,207 1,207 -
9 March 2026 9.17% 700 700 -

18,907 18,542 365

There is an all obligations unlimited interlocking company guarantee between the following entities in the
Group; Eileen Mary Age Care Limited, Promisia Healthcare Limited, Aged Care Holdings Limited, Ranfurly
Manor Limited, Nelson Street Resthome Limited, Aldwins House Limited and Aldwins Retirement Village
Limited, Golden View Care Limited, Thyme Care Limited and Thyme Care Properties Limited.

Other Loans consists of:

Insurance premium funding
Funding was provided by Hunter Premium Funding for the payment of insurance premiums.

Vendor loan
On acquisition of Golden View Care and Golden View Lifestyle Village, a term loan of $13.350m was entered
into with the vendor. The loan is interest free and comprises a non-refundable deposit of $8.640m to be paid
in 48 monthly installments of $0.180m and a final payment of $4.710m to be paid on completion date (refer
note 11). On the acquisition date, $0.180m of the loan was repaid. The balance of the loan at 30 Sept
2024 was $12.990m.

Senior Trust Retirement Village Income Generator Limited
A term loan of $6.500m held with Senior Trust Retirement Village Income Generator Limited was repaid in
full during the period.

Teltower Limited Loan
A term loan of $3.900m (30 Sept 2023: $4.000m, 31 March 2024: $4.000m) is held with Teltower Limited.
This loan has an interest rate of 6.0% p.a. (30 Sept 2023: 6.0% p.a, 31 March 2024: 6.0% p.a). Principal
repayments are effective from 1 April 2024 at $20,000 per month, with full repayment of the residual
balance on 1 April 2027. The loan is secured by the present properties at 56 McPhee Street, Dannevirke and
62 Aldwins Road, Phillipstown.
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 13 -




NOTE 4: BORROWINGS (CONTINUED)


Maturity date

Interest rate Facility Drawn Undrawn

($'000)

($'000)

($'000)

As at 30 September 2023

20 October 2023

9.79%

9,500

9,500

-
31 March 2025 9.25% 7,500 7,500 -
30 October 2025 2.29% 1,501 1,501 -

18,501 18,501 -

Maturity date Interest rate Facility Drawn Undrawn
($'000) ($'000) ($'000)
As at 31 March 2024

18 October 2024 9.77% 9,500 9,135 365
31 March 2025 9.25% 7,500 7,500 -
30 October 2025 2.29% 1,207 1,207 -
9 March 2026 9.17% 700 700 -

18,907 18,542 365

There is an all obligations unlimited interlocking company guarantee between the following entities in the
Group; Eileen Mary Age Care Limited, Promisia Healthcare Limited, Aged Care Holdings Limited, Ranfurly
Manor Limited, Nelson Street Resthome Limited, Aldwins House Limited and Aldwins Retirement Village
Limited, Golden View Care Limited, Thyme Care Limited and Thyme Care Properties Limited.

Other Loans consists of:

Insurance premium funding
Funding was provided by Hunter Premium Funding for the payment of insurance premiums.

Vendor loan
On acquisition of Golden View Care and Golden View Lifestyle Village, a term loan of $13.350m was entered
into with the vendor. The loan is interest free and comprises a non-refundable deposit of $8.640m to be paid
in 48 monthly installments of $0.180m and a final payment of $4.710m to be paid on completion date (refer
note 11). On the acquisition date, $0.180m of the loan was repaid. The balance of the loan at 30 Sept
2024 was $12.990m.

Senior Trust Retirement Village Income Generator Limited
A term loan of $6.500m held with Senior Trust Retirement Village Income Generator Limited was repaid in
full during the period.

Teltower Limited Loan
A term loan of $3.900m (30 Sept 2023: $4.000m, 31 March 2024: $4.000m) is held with Teltower Limited.
This loan has an interest rate of 6.0% p.a. (30 Sept 2023: 6.0% p.a, 31 March 2024: 6.0% p.a). Principal
repayments are effective from 1 April 2024 at $20,000 per month, with full repayment of the residual
balance on 1 April 2027. The loan is secured by the present properties at 56 McPhee Street, Dannevirke and
62 Aldwins Road, Phillipstown.
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 14 -






Note
30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
31 March
2024
AUDITED


NOTE 5: OCCUPATION RIGHT AGREEMENTS
$ '000 $ '000 $ '000

Opening 22,012 15,459 15,459
New occupation right agreements issued 2,300 3,815 10,215
Occupation right agreements exited (1,114) (930 ) (1,798)
Deferred management fees (per contract) (788 ) (374 ) (1,864)
Occupation right agreements acquired in business
combinations 11 67,413 - -

Occupation right agreements held for sale 12 (2,819) - -
At reporting date
87,004 17,970 22,012




NOTE 6: CONVERTIBLE NOTES


Number on issue
(000's)
Nominal value
$'000
Opening balance at 1 April 2024
28 August 2024 - Tranche 1
-
2,500
-
2,500
28 August 2024 - Tranche 2 3,500 3,500
Closing balance at 30 September 2024
6,000 6,000


As part of the consideration for the Cromwell Acquisition (and approved by Promisia shareholders on 31
July 2024), Promisia Healthcare Limited has issued 6 million unquoted convertible notes to Rivercrest
Cromwell Limited, the vendor of the Golden View Lifestyle Village. The Unquoted Convertible Notes (the
'Notes') were issued in part payment of the purchase price under the Sale and Purchase Agreement with
Rivercrest Cromwell Limited for the acquisition of Golden View Lifestyle Village.

Conversion

The Notes are convertible into ordinary shares at an initial conversion price of $0.001 per share at issuance.
Following the share consolidation of 500:1, the conversion price has been adjusted to $0.50 per share.

The Notes can be converted into ordinary shares at the discretion of the noteholder from the date of the
issue of the notes (the "grant date') on the following terms:
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
1819
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 1$ -




Opening balance
(000's)

21,475,642
$ '000

77,467
(000's)

21,434,975
$ '000

77,426
Shares issued and paid 4,796,166 4,796 - -
Share consolidation of 500:1 (26,219,264) - - -
Transaction costs relating to shares
issued, net of tax

-

(224 )

-

-

(21,423,098) 4,572 - -
At reporting date
52,544 82,039 21,434,975 77,426




NOTE 6: CONVERTIBLE NOTES (CONTINUED)


Terms Exercise period Maturity Date
Tranche 1 Any time before the one-year anniversary
date of the Grant Date
28 August 2025
Tranche 2 Any time before the four-year anniversary
of the Grant Date
28 August 2028
Any shares in Promisia Healthcare Limited issued on the conversion of the Notes will rank equally in all
respects with all other shares in Promisia Healthcare Limited.

Any Notes not converted prior to the respective maturity date will be redeemed by Promisia Healthcare
Limited at the issue price and those Notes will be cancelled.
There is no nominal interest on the Notes.



NOTE 7: SHARE CAPITAL

30 September 2024
UNAUDITED
Number
30 September 2023
UNAUDITED
Number














The Group's share capital includes fully paid shares.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 16 -




NOTE 7: SHARE CAPITAL (CONTINUED)

Capital raise

In July 2024, the Group undertook a capital raise to raise funds to finance the acquisition of Golden View
Lifestyle Village and Ripponburn Home and Hospital. The capital raise consisted of a combination of
placements and a share purchase plan to all existing shareholders at an offer price of $0.001 per share in
Promisia Healthcare Limited, raising a total of $4.725 million. For every one share allotted under the capital
raise one Warrant was allotted for no additional consideration.

Share based payments

On 9 April 2024, 40.667m shares were issued upon the conversion of restricted share units in Promisia
Healthcare Limited issued under the 2023 Promisia Healthcare Limited Senior Executive Restricted Share
Plan Rules. The shares were satisfied with non-cash consideration provided in the form of services rendered
by the senior executives of Promisia Healthcare Limited at a value of $0.001 per share which equates to
$0.041m, which is recognised as employee benefit expense in the profit and loss.

On 15 August 2024, 30.500m shares were issued upon the conversion of restricted share units in Promisia
Healthcare Limited issued under the 2023 Promisia Healthcare Limited Senior Executive Restricted Share
Plan Rules. The shares were satisfied with non-cash consideration provided in the form of services rendered
by the senior executives of Promisia Healthcare Limited at a value of $0.001 per share which equates to
$0.031m, which is recognised as employee benefit expense in the profit and loss.

Share consolidation

During the period the board resolved to consolidate Promisia Healthcare Limited's shares and warrants on
26 September 2024. Under the consolidation every 500 shares became 1 share.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
2021
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 17 -



30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
(Re -presented)*


NOTE 8: EARNINGS PER SHARE
$ '000 $ '000


Profit/(loss) attributable to ordinary shareholders (basic & dilutive)
Profit/ (loss) from continuing operations 5,350 (400)
Profit from discontinued operations 435 248





Cents per share

Basic earnings per share
Cents Cents
per share per share
(re -presented)*
Basic earnings per share from continuing operations 23.4810 (1.8610)
Basic earnings per share from discontinued operations 1.9092 1.1538

Diluted earnings per share
Diluted earnings per share from continuing operations 22.4137 (1.8610)
Diluted earnings per share from discontinued operations 1.8224 1.1538


Number of Number of
shares shares
000's 000's
(re -presented)*


Weighted average number of shares for basic EPS 22,784 21,494
Effect of conversion of convertible notes 1,085 -
Weighted average number of shares (diluted) 23,869 21,494

*Comparative information has been re-presented due to a discontinued operation and the earnings per
share has been restated due to a share consolidation of 500 to 1.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 18 -




NOTE 8: EARNINGS PER SHARE (CONTINUED)
The calculation of basic earnings per share is based on the gain/(loss) from continuing/discontinued
operations attributable to ordinary shareholders and the weighted average of total ordinary shares on issue
during the period. The calculation of diluted earnings per share has been based on the profit attributable to
ordinary shareholders and weighted-average number of ordinary shares outstanding after adjustment for
the effects of all dilutive potential ordinary shares.

At 30 September 2024, 28,350 warrants were excluded from the diluted weighted-average number of
ordinary shares calculation because their effect would have been anti-dilutive. The average market value of
the Group's shares for the purpose of calculating the dilutive effect of warrants was based on quoted
market prices for the period during which the warrants were outstanding.



NOTE 9: WARRANTS

Number on issue Number converted
30 September to ordinary shares
2024
UNAUDITED
(000's)

Opening balance at 1 April 2024 - -
5 August 2024- allotment 4,000,000 -
30 August 2024- allotment 725,000 -
26 September 2024 - allotment 9,450,000 -
27 September 2024 Consolidation 500:1 (14,146,650) -
Closing balance at 30 September 2024
28,350 -


Warrants were issued during the period ended 30 September 2024 (30 September 2023: nil, 31 March
2024: nil).

Capital raise

In July 2024, the Group undertook a capital raise to raise funds to finance the acquisition of Golden View
Lifestyle Village and Ripponburn Home and Hospital. The capital raise consisted of a combination of
placements and a share purchase plan to all existing shareholders at an offer price of $0.001 per share in
Promisia, raising a total of $4.725 million. For every one share allotted under the capital raise one warrant
was allotted for no additional consideration.

The warrants are classified as equity instruments under NZ IAS 32, as they meet the "fixed-for -fixed"
criterion (fixed number of shares for a fixed price). As such, they were recorded in equity at fair value on
initial recognition with no subsequent re-mea surement. The fair value of the warrants was assessed as
immaterial, given that the exercise price aligned with the share price, resulting in limited intrinsic value at
issuance.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 17 -



30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
(Re -presented)*


NOTE 8: EARNINGS PER SHARE
$ '000 $ '000


Profit/(loss) attributable to ordinary shareholders (basic & dilutive)
Profit/ (loss) from continuing operations 5,350 (400)
Profit from discontinued operations 435 248





Cents per share

Basic earnings per share
Cents Cents
per share per share
(re -presented)*
Basic earnings per share from continuing operations 23.4810 (1.8610)
Basic earnings per share from discontinued operations 1.9092 1.1538

Diluted earnings per share
Diluted earnings per share from continuing operations 22.4137 (1.8610)
Diluted earnings per share from discontinued operations 1.8224 1.1538


Number of Number of
shares shares
000's 000's
(re -presented)*


Weighted average number of shares for basic EPS 22,784 21,494
Effect of conversion of convertible notes 1,085 -
Weighted average number of shares (diluted) 23,869 21,494

*Comparative information has been re-presented due to a discontinued operation and the earnings per
share has been restated due to a share consolidation of 500 to 1.
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 17 -



30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
(Re -presented)*


NOTE 8: EARNINGS PER SHARE
$ '000 $ '000


Profit/(loss) attributable to ordinary shareholders (basic & dilutive)
Profit/ (loss) from continuing operations 5,350 (400)
Profit from discontinued operations 435 248





Cents per share

Basic earnings per share
Cents Cents
per share per share
(re -presented)*
Basic earnings per share from continuing operations 23.4810 (1.8610)
Basic earnings per share from discontinued operations 1.9092 1.1538

Diluted earnings per share
Diluted earnings per share from continuing operations 22.4137 (1.8610)
Diluted earnings per share from discontinued operations 1.8224 1.1538


Number of Number of
shares shares
000's 000's
(re -presented)*


Weighted average number of shares for basic EPS 22,784 21,494
Effect of conversion of convertible notes 1,085 -
Weighted average number of shares (diluted) 23,869 21,494

*Comparative information has been re-presented due to a discontinued operation and the earnings per
share has been restated due to a share consolidation of 500 to 1.
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 17 -



30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
(Re -presented)*


NOTE 8: EARNINGS PER SHARE
$ '000 $ '000


Profit/(loss) attributable to ordinary shareholders (basic & dilutive)
Profit/ (loss) from continuing operations 5,350 (400)
Profit from discontinued operations 435 248





Cents per share

Basic earnings per share
Cents Cents
per share per share
(re -presented)*
Basic earnings per share from continuing operations 23.4810 (1.8610)
Basic earnings per share from discontinued operations 1.9092 1.1538

Diluted earnings per share
Diluted earnings per share from continuing operations 22.4137 (1.8610)
Diluted earnings per share from discontinued operations 1.8224 1.1538


Number of Number of
shares shares
000's 000's
(re -presented)*


Weighted average number of shares for basic EPS 22,784 21,494
Effect of conversion of convertible notes 1,085 -
Weighted average number of shares (diluted) 23,869 21,494

*Comparative information has been re-presented due to a discontinued operation and the earnings per
share has been restated due to a share consolidation of 500 to 1.
2223
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 19 -





NOTE 9: WARRANTS (CONTINUED)

Warrant consolidation

During the period the board resolved to consolidate Promisia Healthcare Limited's shares and warrants on
26 September 2024. Under the consolidation every 500 warrants became 1 warrant.

Exercise of warrants

The warrants are transferrable, with each warrant giving the warrant holder the right, but not the
obligation, to subscribe for one additional share at any time before the expiry date of 24 March 2027 for an
exercise price of $0.50 post consolidation ($0.001 pre-consolidation).




NOTE 10: RELATED PARTY TRANSACTIONS

Related Party Relationship

Brankin Family Interest Trust Related to a shareholder and a director of the Group
Design Care Group Limited Related by common directors
Crafted Solutions Limited Related by common directors

(a) Transactions with related parties


30 September
2024
UNAUDITED


30 September
2023
UNAUDITED
$ '000 $ '000

Directors fees (143) (100)
Consultancy fees paid to Design Care Group Limited (176) -
Consultancy fees paid to Crafted Solutions Limited (17) -

(b) Balances with related parties

At reporting date $nil was receivable from Brankin Family Interest Trust (30 September 2023: $0.145m and
31 March 2024: $nil).

During the year ended 31 March 2023 the Brankin Family Interest Trust paid taxes on behalf of the group
amounting to $0.175m. At reporting date $0.175m was payable (30 September 2023: $0.175m and 31
March 2024: $0.175m).
No balances with related parties were written off or forgiven in the period (30 September 2023: $nil and 31
March 2024: $nil) .
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 2 -




NOTE 11: BUSINESS COMBINATIONS

Golden View Care and Golden View Lifestyle Village

On 28 August 2024, the Group acquired 100% of the assets and liabilities of Golden View Care and Golden
View Lifestyle Village, a provider of rest home and hospital care for the elderly and a retirement village in
Cromwell.

Since the acquisition took place one month before reporting date, the initial accounting for the business
combination is yet to be finalised and the amounts reported are provisional.

The primary reason for the business combination was to expand Promisia’s network, with an additional 60
care beds, including a specialist dementia unit, and 121 independent living villas and apartments.

Details of the purchase consideration
Note $ '000
Cash paid 9,820
Deferred consideration - vendor loan 4 13,350
Convertible notes issued 6,000
Total purchase consideration
29,170


Assets and liabilities acquired
Assets and liabilities acquired as a result of the business combination were:





Note


Recognised on
acquisition at
fair value
$ '000
Assets and liabilities held at acquisition date:
- Property, plant and equipment 825
- Investment properties 95,604
- Intercompany loan payable (825)
- Occupation right agreements 5 (62,254)
Net identifiable assets acquired 33,350
Add: Bargain purchase (4,180)
Total purchase consideration
29,170


Currently the Golden View Lifestyle Village and recreational facilities are being leased from Rivercrest
Cromwell Limited (the Vendor). The Vendor currently receives 40% of the occupation right agreements net
proceeds from Golden View Lifestyle Village in lieu of rent. This right of use asset is deemed to be an
investment property.

Transfer of ownership of these investment properties is expected to be in August 2028 on completion of
the repayment of the Vendor loan of $13.350m and the conversion of the $6.000m capital notes to shares.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
2425
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 2 -




NOTE 11: BUSINESS COMBINATIONS (CONTINUED)
Contribution since acquisition
Since the acquisition date, of Golden View Care Limited and Golden View Lifestyle Village, they have

contributed revenue of $0.485m and operating profit before tax of $0.189m.

Bargain purchase

The business combination resulted in a gain on business acquisition as the fair value of assets acquired and
liabilities assumed exceeded the total of the fair value of consideration paid. Golden View Care facility &
village were acquired from Rivercrest Cromwell Limited for a $29.170m purchase price. The latest valuation
as at 31 March 2024 recorded a fair value of $33.350m which resulted in a $4.180m gain.

Rippon Hom e and Hospital

On 28 August 2024, the Group acquired 100% of the share capital of Ripponburn Home and Hospital
Limited, a provider of rest home and hospital care for the elderly in Cromwell.

Since the acquisition was one month before reporting date, the initial accounting for the business
combination is yet to be finalised and the amounts reported are provisional.

The primary reason for the business combination was to expand Promisia Healthcare Limited's network,
with an additional 46 care beds, including a specialist dementia unit, and 16 independent living villas.

Details of the purchase consideration
$ '000
Cash paid 4,000
Total consideration
4,000
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 22 -




NOTE 11: BUSINESS COMBINATIONS (CONTINUED)

Assets and liabilities acquired
Assets and liabilities acquired as a result of the business combination were:





Note


Recognised on
acquisition at
fair value
$ '000
Assets and liabilities held at acquisition date:
- Cash & cash equivalents 42
- Accounts receivable 366
- Property, plant and equipment 154
- Investment properties 10,450
- Deferred tax liability (4)
- Intercompany loan receivable 101
- Accounts payable (117)
- Provisions (581)
- Occupation right agreements 5 (5,159)
- Deferred management fee (251 )
Net identifiable assets acquired 5,001
Add: Bargain purchase (1,001)
Total purchase consideration
4,000





Contribution since acquisition

Since the acquisition date Ripponburn Home and Hospital Limited has contributed revenue of $4.423m and
operating profit before tax of $0.350m.

Bargain purchase

The business combination resulted in a gain on business acquisition as the fair value of assets acquired and
liabilities assumed exceeded the total of the fair value of consideration paid. The shares for the companies
that own Ripponburn facility & village (i.e. Thyme Care & Thyme Care Properties Limited) were acquired for
$4.000m. The latest valuation as at 31 March 2024 recorded a fair value of $5.001m which resulted in a
$1.001m gain.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
2627
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 23 -




NOTE 12: ASSETS AND LIABILITIES OF DISPOSAL GROUP HELD FOR SALE AND DISCONTINUED OPERATION

In September 2024, Promisia Healthcare Limited entered into a conditional sales and purchase agreement
with The Masonic Village Trust to sell its Eileen Mary care facility and village in Dannevirk. The purchase
price for the business is $6.100 million. The assets and directly associated liabilities have accordingly been
presented as held for sale and Eileen Mary care facility and village has been classified as a discontinued
operation.

No impairment losses have been recognised as the expected sale price of the care facility and village is in
excess of the current carrying value of the care home assets.


Discontinued operations

See accounting policy in Note 1(e) for discontinued operations.

The Eileen Mary care facility and village was not previously classified as held-for -sale or as a discontinued
operation. The comparative condensed consolidated statement of comprehensive income has been
represented to show the discontinued operation separately from continuing operation.

The results of the discontinued operation for the period are:
30 September
2024
UNAUDITED
30 September
2023
UNAUDITED


(a) Financial performance information
$ '000 $ '000
Revenue 1,967 1,867
Expenses 1,520 1,610
Profit before income tax 447 257
Income tax expense on discontinued operation 12 9
Operating profit from discontinued operations
435 248



30 September
2024
UNAUDITED
30 September
2023
UNAUDITED


(b) Cash flow information
$ '000 $ '000
Net cash (used in) operating activities 232 268
Net cash (used in) investing activities (2,050) (780)
Net cash provided by financing activities 1,810 -
Net cash flow
(8) (512 )
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 24 -




NOTE 12: ASSETS AND LIABILITIES OF DISPOSAL GROUP HELD FOR SALE AND DISCONTINUED OPERATION
(CONTINUED)


30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
Note $ '000 $ '000

(c ) Carrying amounts of assets and liabilities of disposal group held for sale

Assets held for sale
Receivables



252


-
Deferred tax assets

69 -
Property, plant and equipment 2 73 -
Investment properties

9,652 -

10,046 -
Liabilities directly associated with assets classified
as held for sale

Bank overdraft

1,700 -
Payables

641 -
Revenue received in advance

246 -
Borrowings

2,946 -
Occupation right agreements 5 2,819 -

8,352 -


NOTE 13: CAPITAL COMMITMENTS

Ranfurly Residential Development

The Group had entered into a fixed price agreement for the development land surrounding the Ranfurly
Residential Care Centre. The agreement, initially for 7 years was amended by a contract deed of variation on
6 December 2022, to a period of two years for the development of eight internal units, three 1-bedroom
villas and twenty two 2-bedroom villas to be completed at a fixed price of $12.060m to be paid from ORA
sale proceeds from individual units. The commitment as 30 September 2024 is $1.330m (30 September
2023: $6.290m and 31 March 2024: $2.200m).

As at 30 September 2024, all 1-bedroom villas and 2-bedroom villas had been completed and sold. One of
the internal units has been sold.



NOTE 14: CONTINGENT LIABILITIES

There are no contingent liabilities at 30 September 2024 (30 September 2023: $Nil).
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 24 -




NOTE 12: ASSETS AND LIABILITIES OF DISPOSAL GROUP HELD FOR SALE AND DISCONTINUED OPERATION
(CONTINUED)


30 September
2024
UNAUDITED
30 September
2023
UNAUDITED
Note $ '000 $ '000

(c ) Carrying amounts of assets and liabilities of disposal group held for sale

Assets held for sale
Receivables



252


-
Deferred tax assets

69 -
Property, plant and equipment 2 73 -
Investment properties

9,652 -

10,046 -
Liabilities directly associated with assets classified
as held for sale

Bank overdraft

1,700 -
Payables

641 -
Revenue received in advance

246 -
Borrowings

2,946 -
Occupation right agreements 5 2,819 -

8,352 -


NOTE 13: CAPITAL COMMITMENTS

Ranfurly Residential Development

The Group had entered into a fixed price agreement for the development land surrounding the Ranfurly
Residential Care Centre. The agreement, initially for 7 years was amended by a contract deed of variation on
6 December 2022, to a period of two years for the development of eight internal units, three 1-bedroom
villas and twenty two 2-bedroom villas to be completed at a fixed price of $12.060m to be paid from ORA
sale proceeds from individual units. The commitment as 30 September 2024 is $1.330m (30 September
2023: $6.290m and 31 March 2024: $2.200m).

As at 30 September 2024, all 1-bedroom villas and 2-bedroom villas had been completed and sold. One of
the internal units has been sold.



NOTE 14: CONTINGENT LIABILITIES

There are no contingent liabilities at 30 September 2024 (30 September 2023: $Nil).
(()
)
)
)((
PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 23 -




NOTE 12: ASSETS AND LIABILITIES OF DISPOSAL GROUP HELD FOR SALE AND DISCONTINUED OPERATION

In September 2024, Promisia Healthcare Limited entered into a conditional sales and purchase agreement
with The Masonic Village Trust to sell its Eileen Mary care facility and village in Dannevirk. The purchase
price for the business is $6.100 million. The assets and directly associated liabilities have accordingly been
presented as held for sale and Eileen Mary care facility and village has been classified as a discontinued
operation.

No impairment losses have been recognised as the expected sale price of the care facility and village is in
excess of the current carrying value of the care home assets.


Discontinued operations

See accounting policy in Note 1(e) for discontinued operations.

The Eileen Mary care facility and village was not previously classified as held-for -sale or as a discontinued
operation. The comparative condensed consolidated statement of comprehensive income has been
represented to show the discontinued operation separately from continuing operation.

The results of the discontinued operation for the period are:
30 September
2024
UNAUDITED
30 September
2023
UNAUDITED


(a) Financial performance information
$ '000 $ '000
Revenue 1,967 1,867
Expenses 1,520 1,610
Profit before income tax 447 257
Income tax expense on discontinued operation 12 9
Operating profit from discontinued operations
435 248



30 September
2024
UNAUDITED
30 September
2023
UNAUDITED


(b) Cash flow information
$ '000 $ '000
Net cash (used in) operating activities 232 268
Net cash (used in) investing activities (2,050) (780)
Net cash provided by financing activities 1,810 -
Net cash flow
(8) (512 )
2829
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

PROMISIA HEALTHCARE LIMITED

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 6 MONTHS ENDED 30 SEPTEMBER 2024
Compiled without undertaking an audit or review, refer to the Compilation Report on page 2

- 2$ -




NOTE 15: EVENTS SUBSEQUENT TO REPORTING DATE

Eileen Mary Facility

he Group entered a sale and purchase agreement to sell its ileen ar2 care facilit2 and village in
Dannevir$e on 13 eptember 2024.

ileen ar2 is non-core to romisia8s portfolio, as romisia is see$ing larger scale facilities in regions 0ith a
gro0ing population as part of its strateg2.

he selling price for the business and assets is B6.100 million plus G (if an2). he sale and purchase
agreement is conditional on regulator2 approval and consent to transfer a material contract. he sale and
purchase 0as completed on 12 November 2024.

Other

here have been no other matters or circumstances, 0hich have arisen since 30 eptember 2024 that have
significantl2 affected or ma2 significantl2 affect5

(a) the operations, in financial period subse*uent to 30 eptember 2024, of the Group, or
(b) the results of those operations, or
(c) the state of affairs, in financial period subse*uent to 30 eptember 2024, of the Group.
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the six months ended 30 September 2024
PROMISIA HEALTHCARE LIMITED

-
1
-




DIRECTORY


Registered office Duncan Cotterill
Level 5, 50 Customhouse Quay
Wellington, 6011


Directors Thomas Brankin
Craig Percy
Rhonda Sherriff
Jill Hatchwell (ceased 25 September 2024, reappointed 6 November 2024)
Tony Mortensen (appointed 30 August 2024)


Auditor William Buck Audit (NZ) Limited


Bank Bank of New Zealand
Kiwibank


Solicitors Duncan Cotterill, Wellington
DIRECTORY
3031
INTERIM REPORT HY25PROMISIA HEALTHCARE LIMITED

www.promisia.co.nz

---

Results announcement



Results for announcement to the market
Name of issuer Promisia Healthcare Limited
Reporting Period 6 months to 30 September 2024
Previous Reporting Period 6 months to 30 September 2023
Currency NZD
Amount (000s) Percentage change
Revenue from continuing
operations
$18,227 64.8%
Total Revenue $20,194 56.2%
Net profit/(loss) from
continuing operations
$5,350 1,437.5%
Total net profit/(loss) $5,785 3,905.9%
Interim/Final Dividend
Amount per Quoted Equity
Security
No dividend is proposed
Imputed amount per Quoted
Equity Security
Not Applicable
Record Date Not Applicable
Dividend Payment Date Not Applicable
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$0.72 $0.46
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
Please refer to attached documents (consolidated financial
Statements and results announcement).
Authority for this announcement
Name of person

authorised
to make this announcement
Rhonda Sherriff, Chair
Contact person for this
announcement
Francisco Rodriguez Ferrere, General Manager Finance
Contact phone number 021 245 1801
Contact email address Francisco.rf@promisia.co.nz
Date of release through MAP

25 November 2024

Unaudited financial statements accompany this announcement.