OCA - Oceania Healthcare

[winner (n)]

Great news imo

[Basil]

Mixed feelings about this.  With Brent's background as director of investment banking at Jarden, you would think if anyone could understand the need to drive eps growth it would be him.  This company a bit of a meat grinder, chewed through two CEO's in less than 7 years.

With him going some of the promises he made (which always looked unattainable to me) are annulled.  One of them was transitioning the business from 60% care units to 45% within 2 years.  I called that a load of the proverbial at the time and stand by that view.

I guess he misses his days of cut and thrust with investment banking at Jarden's ?  Maybe the ocean of unsold stock and the very poor rate at which its selling means he can see there's no real growth in the business in the foreseeable future and he just wants to shift somewhere which will be more rewarding.  If they promote the CFO to CEO that's really a run for the hill's moment if you haven't already.

This announcement means I'm really losing interest in buying some on the index exit.  Too many fleas on this dog...why's he really going, terrible news ahead ?

Liz Coutts, Chair says, "It has been an absolute pleasure having Brent at the helm and he has demonstrated resilience and tenacity in the execution of the strategy, including leading the sector to deliver new forms of innovation. Brent has always had the residents at the heart of everything he does".
"Brent has set the business up well to benefit from the positive momentum in the market and for his successor to build upon this success and Oceania's continued growth".

She needs to go too.  Obviously, she does not understand the very simple fact that earnings per share have not grown at all in her time with the company.
Shareholders deserve honest talk from their CEO and Chair.  What the heck is the point of building new units with cost blowouts when you could buy your own shares back for well under half NTA ?  Are the whole board so thick they can't do some soul searching and work this out ?  Well...I guess its just easier to keep talking B.S.

To those friends I had out on my boat recently and suggested this could be a profitable trade to buy on index exit on Thursday and resell before late May when results announced...my updated position is this. OCA now has FAR more risk.  Could be very poor sales to be announced for the year to March 31 2024 and a capital raise now looks FAR more likely to me.
CEO not leaving without being for a VERY good reason.  Probably bad news coming.

[Greekwatchdog]

Why does Brent need a good reason to leave. Looks to me is that we will continue to do the job until the Board announce a successor. Maybe he is just taking a break, who knows but your making a lot of assumptions there.

[Basil]

I have learned to read between the lines with OCA. It's what they don't say you need to be concerned about.

[Greekwatchdog]

Or you could say no news is good news? I mean lets face it they are by the the worse of the RV's at giving shareholders and updates outside HY and FY. Even in Earls time we got nothing. Certainly they get no points on charming is shareholders with news.

I would like to see some board changes as well as a new the CEO coming on.

Until then can't wait till May for FY. Not holding my breath for an update from them

[winner (n)]

I have learned to read between the lines with OCA. It's what they don't say you need to be concerned about.

Maybe Liz playing out the 'Believe in Better' bit ......looking for somebody better

[winner (n)]

Or you could say no news is good news? I mean lets face it they are by the the worse of the RV's at giving shareholders and updates outside HY and FY. Even in Earls time we got nothing. Certainly they get no points on charming is shareholders with news.

I would like to see some board changes as well as a new the CEO coming on.

Until then can't wait till May for FY. Not holding my breath for an update from them

Time for Dame Kerry ans Alan Isaac to move on....done their bit occupying a seat for too long. Suppose Greg decides when to leave but I reckon he's pretty grumpy at the moment.

[Poet]

Time for Dame Kerry ans Alan Isaac to move on....done their bit occupying a seat for too long. Suppose Greg decides when to leave but I reckon he's pretty grumpy at the moment.

The rot starts at the top.
Chair should go asap and shareholders should appoint someone who gives a flying fig about shareholder interests.
Jeez, lost 30% value in under a month plus ceo resigns and not a single word from the board about what the he'll is going on. Unbelievable!!

[winner (n)]

The rot starts at the top.
Chair should go asap and shareholders should appoint someone who gives a flying fig about shareholder interests.
Jeez, lost 30% value in under a month plus ceo resigns and not a single word from the board about what the he'll is going on. Unbelievable!!

I didn't want to offend anybody by suggesting Liz goes ......Our Liz is so admired by so many

[Poet]

And...
Suspended dividends and then spaff $40m on land that the market instantly discounts by more than 50% because the market doesn't believe the company can
Use it profitably

Next we will have a cap raise when the shareprice is under 50% of nav.
What brilliant leadership!

[Basil]

Hey Winner, I think Greg backed up the truck @$1.40 when I was selling most of mine down.  Almost as much fun as selling WHS shares to Nick at $4.11.  I bet he is very grumpy.  Needs to start throwing his weight around a bit more eh.  Maybe he told Brent to buck up his game or shift on ?

GWD - Shareholder communication from OCA is truly appalling, we absolutely agree on that.  Even when they do say something the amount of deliberate obfuscation they engage in is mind boggling. (For example, for years they would never disclose to analysts what their unsold stock was despite every other company in this sector being completely transparent about it).

Buying heaps more land in front of the Helier at top prices, spending many, many millions like a drunken sailor when they have the highest gearing in the sector, shareholder dividends are suspended for who knows how long, the share price is less than half theoretical NTA, and they have an absolute ocean of unsold stock makes no sense to me whatsoever.  WTF ?

[Perky]

Greg will be grumpy all right... not having a good trot with OCA or HGH

I think his personal market cap is still more than oca lol

[winner (n)]

Greg didn't participate in recent DRP ....prob saving cash for capital raise

His horses doing OK

[Perky]

Horses and wine seem much more interesting than banking and housing for the oldies eh

What odds you put on this cap raise...you been calling it for a while?

[Buzz]

I didn't want to offend anybody by suggesting Liz goes ......Our Liz is so admired by so many

And a bit disingenuous some people suggest she doesn't care about shareholders, when she hold million or more of shares. The other guy even way more. Maybe they do care, enough to get rid of the CEO who only got a few shares by comparison and most (all) of them as incentives and DRP's.