Okay, good morning, everyone. My name is Gary Weiss, and it is my pleasure as chairman of Estia Health Limited to welcome everyone joining us today for our annual general meeting. I would like to start by acknowledging the Gadigal people of the Eora Nation, the traditional custodians of this land, and pay my respects to the elders past, present, and emerging. It is now just past 9 A.M., the nominated time for the meeting, and I have been informed that a quorum is present. I note that the meeting has been validly constituted, and I declare the meeting open. The notice of meeting was made available to all registered shareholders within the notice period required. With your consent, I will take that document as read. I would now like to introduce your directors who are joining us today. Sean Bilton, to my left, Chief Executive Officer and Managing Director. Over on the far left, Norah Barlow, Non-Executive Director and Chair of the Property and Investment Committee. To my left, Paul Foster, Non-Executive Director and Chair of the Nomination and Remuneration Committee. Helen Kurincic, and Non-Executive Director and Chair of our Risk Management Committee. Karen Penrose, Non-Executive Director and Chair of the Audit Committee. Then over to the left, our new director, Professor Simon Willcock, Non-Executive Director and Chair of our Clinical Governance Committee. We also have Estia Health executives present today, including Steve Lemlin, our CFO, and Damian Hiser, our Chief Operating Officer. Also with us is our Company Secretary, Leanne Ralph, and representatives from the company's share register, Link Market Services. Unfortunately, our audit partner from EY, Mr Paul Gower, is unwell with COVID, so he's joining us on the phone rather than in person. There are four components to today's meeting. First, I will provide you with an update on the business from a strategic perspective. This will be followed by a detailed overview of the group's performance for the 2022 financial year by our Chief Executive, Sean Bilton. Following the general business questions, we will then move to the formal business of the meeting, where the items set out in the notice of meeting will be put to shareholders. The audio webcast of today's meeting will be made available on the company's website in the coming days. We are delighted to offer our shareholders a choice of participating in today's meeting in person or via our online webcast. Shareholders and proxy holders will have an opportunity to ask questions on each item of formal business. There will also be an opportunity for shareholders and proxy holders to ask general questions or make comments relating to the management of the company when we consider the financial report for the 2022 financial year. There are two ways to ask a question: via your attendance in person here today and by submitting a question on the online platform. I will outline each of those, these options, and I can indicate at this stage we did not receive any requests to submit questions by phone. Shareholders and proxy holders present in the room will be holding a yellow or blue card. If you need assistance, please ask one of the registry staff in the auditorium or the foyer. To ask a question, please raise your card, and when indicated by me, identify yourself and ask your questions. Turning to online participants, the information I'm about to provide is contained in the online meeting guide available in the Download section on your screen. You will see at the bottom of your screen three boxes, Ask a question, Get a voting card, and Downloads. To ask a question, click the Ask a question button. A box will appear with two sections as shown on the screen. Select from the dropdown menu the item of business to which your question relates, then type your question in the space provided. Online questions relevant to our business will be read aloud by our company secretary during the relevant item of business. To ensure you have enough time to type and submit your question, I encourage you to start typing now instead of waiting until later in the meeting. The order in which we will address questions for each item of business will be, first, questions from shareholders present in the room and then questions via the online platform. If we receive multiple questions on the same topic, we may choose to amalgamate them in the interest of time and clarity. Turning now to voting procedures. All items of business will be voted on by poll and a representative of the company share registry, Link Market Services, is Returning Officer for this meeting. I declare the polls now open. If you are eligible to vote, there are two ways you can cast your vote, in person or via the online platform. If you are present in the room, you will have a yellow voting card which you'll be asked to complete and hand to the registry staff at the appropriate time. I will advise you when it is time to complete your voting card. If you need assistance, please ask one of the registry staff in the room or in the foyer. If you have a yellow voting card and need to leave early, you may, if you wish, hand your completed voting card to the staff at the registration desk as you leave. To cast your vote using the online platform, please click the Get a voting card button and follow the prompts. You may cast your live vote at any time during the meeting. I will give you a five-minute warning before we close the online voting platform. You will see a red bar appear at the top of the online platform with a countdown timer of how long you have remaining to cast your vote. Where undirected proxies have been given to me as chair of the meeting, I confirm that as set out in the notice of meeting, I will vote the undirected proxies in favor of all resolutions. I've been advised that all proxies received for the meeting have been checked, and I declare them valid for voting. We will display on the screen the number of direct and proxy votes received prior to the meeting when each resolution is put to the meeting and prior to asking for questions or comments. The final results of voting will be released to the market as soon as they are available. While the 2022 financial year was another challenging period, our strong culture, our focus on governance and care, and our organization's leadership have enabled us to navigate the demands that we faced. Throughout this period, our key focus continued to be the care, well-being, and safety of the 8,000 elderly and vulnerable who place their trust in us each year, and equally importantly, the 7,500 dedicated employees who make up the Estia Health family. The COVID-19 pandemic continued to acutely impact the sector for the majority of FY 2022 and created anxiety for our residents, their relatives, and our employees, all of whom have displayed remarkable resilience in working collaboratively to support each other, for which we are indeed grateful. At our annual general meeting last year, following the passage of the Delta variant wave in July and August 2021, the indications in the community were that the worst of the pandemic was behind us. Governments were adjusting health settings, and the operational impact on the homes was lessening. Sadly, the emergence of the Omicron variant, which then accelerated through Australia and the aged care sector from late 2021, caused immense strain on state and federal health systems, which were stretched to breaking point with the collapse of the PCR testing regime and supply chains, which affected the availability of PPE and rapid antigen tests. The residential aged care sector was particularly affected, with thousands of homes, residents, and staff impacted until the wave began to ease in February. Although many of Estia Health's homes experienced outbreaks, our vaccination programs, the availability of antiviral medications, and other infection prevention and control measures assisted in lowering the severity of illness, shortening recovery periods, and decreasing mortality rates. We expect the impact of COVID-19 to be significantly reduced in FY 20 23, but remain vigilant and are committed to ensuring our management strategies and practices reflect the underlying risk in order to support our residents and employees in remaining safe. While we appreciate that the government has undertaken to reimburse providers for the direct costs of outbreaks, the reimbursement of costs incurred by the group in FY 2022, along with the rest of the sector, has been delayed far beyond the time frames communicated by government. As a result, the financial performance of the group in FY 2022 was once again severely impacted by the pandemic. Sean will provide a further update on COVID-19 grants later in the meeting. Our net loss of AUD 52.4 million, compared to a profit after tax in FY 2021 of AUD 5.6 million, has been particularly impacted by the first year of the bed license amortization charge of AUD 42.7 million after tax, resulting from the abolition of the restricted bed licensing regime, a change which the group fully supports. Our profit after tax before this amortization charge, referred to as NPATA, was a loss of AUD 9.6 million, primarily due to COVID-19 incremental costs of AUD 50.4 million, which were only partially offset by the small number of grants confirmed by the end of FY 2022, with a total value received of only AUD 7.1 million. Grant applications submitted and pending review and approval by government, which relate to costs incurred during FY 2022, total AUD 29.3 million as of 23 August 2022, but could not be recognized as income of the period. A speedier and more comprehensive resolution of costs appropriately incurred by providers in preventing and responding to COVID-19 is clearly required. Notwithstanding these pressures, the group remains in a sound financial position with net bank debt of AUD 79.6 million at year-end, with total debt facilities of AUD 330 million, representing significant undrawn capacity. As a result of the financial performance caused by COVID-19 in the second half of FY 2022, the directors determined that there would be no final dividend declared, and accordingly, the fully franked interim dividend of AUD 0.0235 remained the full dividend distributed for the year. Our intention remains, subject to conditions prevailing at the time, for dividend distributions to remain within our existing guidelines of 70%-100% of NPATA. During the last 12 months, we have seen board renewal and management succession, with several key changes previously announced. In March, the Honorable Warwick Smith, AO, resigned as a non-executive director of the company. During his almost five year tenure, Warwick made a significant contribution to the group as chair of the Property and Investment Committee, as well as a member of the Audit Committee and the Royal Commission and Regulatory Committee. On 1 September, we welcomed Professor Simon Willcock as a non-executive director, following his ongoing involvement as the independent chair of Estia Health's Clinical Governance Committee, a role he has held since 2019. Simon Willcock's extensive professional and academic experience will further strengthen our capability in the critical area of clinical governance and best practice resident care. Former Chief Executive Officer and Managing Director, Ian Thorley, retired in July 2022 after joining Estia Health in 2016 as Chief Operating Officer. Ian served in the role of Chief Executive Officer and Managing Director of Estia Health since October 2018. The board is indeed grateful for the incredible contribution Ian delivered during his tenure with the group, including successfully guiding the group through the significant challenges presented by the COVID-19 pandemic, the Aged Care Royal Commission, and the ongoing operational and financial pressures facing Australia's aged care sector. Following Ian's retirement, the board was delighted to appoint Sean Bilton, former Chief Operating Officer and Deputy Chief Executive Officer, as our new Chief Executive Officer and Managing Director. Sean has almost two decades of experience in healthcare and finance prior to joining the group in October 2018, and his appointment has ensured a seamless transition. Stable leadership, smooth transition, and renewal with such high caliber and credential leaders at board and executive level is critical to the enduring success of the group, particularly during a period of unprecedented challenges, and will serve the company well in the future. I would like to particularly acknowledge the resilience, dedication, and empathy shown by my board colleagues and the entire executive leadership team over the past two years. COVID-19 and the pace of reform following the Royal Commission and change of government have had an enormous impact on the aged care environment, and these traits in our leadership team will stand Estia Health in good stead as the sector returns to more normal operating conditions. Estia Health is committed to a robust and effective corporate governance framework, which underpins our management approach and supports the organization in creating value. Our approach to corporate governance is set out on our website, including our annual corporate governance statement and key governance policies. Our care model is underpinned by our clinical governance framework, which is vital given the high care needs of our residents, including those with a diagnosis of dementia. Our Clinical Governance Committee has been independently chaired by Professor Simon Willcock, who, as I said earlier, has now joined the company's board as a non-executive director. Our sustainability strategy showcases the group's commitment to environmental, social, and governance issues. We believe that integrating sustainability into our overall strategy, procedures, and practices is imperative to creating value for all stakeholders. Our modern slavery statement highlights our commitment and efforts to support the United Nations goals of eradicating forced labor, child labor, modern slavery, and human trafficking. Diversity plays a key role in fostering compassionate and welcoming communities. In line with industry norms, our overall workforce is predominantly female. Our commitment to diversity is demonstrated in the elimination of any material gender pay gap and the strong representation of females in senior management roles, 56% in the reporting period. I'm pleased to report that our non-executive directors and executive both reflect gender parity. Our comprehensive financial reporting, provision of information, and transparency of performance to the investor community continues to lead the sector. The company's remuneration framework, policies, and FY 202 2 remuneration outcomes, as set out in the remuneration report, continue to be focused on achieving an alignment between resident, shareholder, and employee interests with a resident-focused quality performance gateway remaining a predetermining factor to the award and payment of short-term incentive entitlements, irrespective of operational and financial performance. With recruitment hampered by reduced immigration and competition from the broader economy, the group implemented additional strategies to attract and retain staff, and have invested in increasing training and development programs, career pathways, a sector leading graduate nurse program, and more broadly, in recruitment strategies, systems, and resources. The sector has faced a high degree of uncertainty in recent years following on from the Royal Commission, which was called more than four years ago, but only reported its final findings in March 2021. The majority of the 148 recommendations were accepted by the former and current government, and the current reform agenda very much reflects the Royal Commission's recommendations. We remain highly supportive of the reform agenda. However, the breadth and speed of the program is creating pressure on the sector. Large providers like Estia Health are better placed than most in the sector, which remains highly fragmented to meet the required time frames and adapt their market offerings. We consider it likely that these reforms will lead to further sector exits and home closures. We see the role of the newly expanded Independent Health and Aged Care Pricing Authority as being the single most important reform to ensure the sustainability of the sector in establishing a reasonable margin to sustain and encourage new capacity. The authority recently released its first consultation paper, to which we have made a submission in support of its far-reaching agenda. The pricing authority will have responsibility from July 2023 for making recommendations to government in relation to the costs of providing care, which will replace the current system, which has traditionally delivered increases in funding below the level of input cost inflation. While responsibility will still lie with government to implement funding outcomes that reflect the pricing authority's recommendations, we believe the framework is now in place to end historic margin erosion and support the provision of services which deliver good resident outcomes, the financial viability of efficient providers, and investment returns that are sufficient to attract the capital required to meet the increase in expected demand and quality. Estia Health is well capitalized as a result of our disciplined and prudent approach to the operation of our business and the preservation of capital during the challenging and uncertain times over the last few years. At last year's annual general meeting, we commenced an on-market share buyback as part of the company's capital management strategy and reflecting the board's view of the inherent value of the company's shares. Operating within ASX guidelines, we were only able to acquire 3.6 million shares at a cost of AUD 8 million. While uncertainties remain, we retain confidence in the ability of high-quality homes with modern amenities and efficiencies to generate acceptable returns ahead of the sector average, underpinned by sustainable RAD cash flows to reduce the level of invested capital. To that end, we committed last week to an investment of approximately AUD 62 million of cash to increase the group's capacity by more than 400 high-quality single ensuite rooms and four homes that align closely with our current operating clusters. The acquisition is expected to be earnings per share accretive to FY 2023 earnings and will be funded from the group's existing debt facilities. Net debt levels are not expected to exceed the target range of 1.5-1.9 x EBITDA as a result of the acquisitions. Subject to prevailing circumstances at the time, the board anticipates that future dividends will be consistent with its objective of distributing 70%-100% of NPATA as fully franked dividends. The company's current on-market buyback is due to complete on 11 November 2022. The board will consider whether to continue the buyback after the first half FY 2023 financial results are released in February 2023. Our financial and operational results for FY 2022 reflected the challenging market and operating conditions, not least of which was the ongoing COVID-19 pandemic. As a result, we've remained focused on keeping our residents and employees safe and to continue to advocate for a sustainable aged care sector which will meet the expectations of current and future generations. Our board of directors and leadership team are confident we have the operational capabilities and the financial capacity to deliver on our ambition to respond to the projected increase in demand for residential aged care into the future, and to further develop our service offering to ensure the sector continues to build trust with our varied stakeholders. Handing now to our Chief Executive, Sean Bilton, I would like to again acknowledge and thank our employees, our residents, and their families. Their resilience, understanding, and commitment has been truly extraordinary and has enabled Estia Health to continue to move forward in difficult circumstances. Sean? Good morning, everyone, and thank you, Gary. From a personal perspective, before I have the pleasure of presenting my first report to shareholders as CEO, I would like to add to Gary's comments and acknowledge the incredible commitment and contribution made by my predecessor as CEO, Ian Thorley, who has retired after a long and distinguished career in healthcare, particularly the last six years here at Estia Health. When Ian assumed the CEO role, no one would have envisaged the Royal Commission and a global pandemic were circumstances that would simultaneously impact the sector. Through this period, Ian led the group with extraordinary energy, determination, and a steady hand. He's left a legacy with our management team he's proud to build on. As Gary has said, the 2022 financial year was another difficult period for the aged care sector. With the continued impact of COVID-19, workforce challenges, and the ongoing government reform agenda affecting sentiment towards the sector. The cornerstone of our strategy remains to put residents at the center of everything we do. This is possible through the dedication of our 7,500 employees and healthcare partners, working with residents and families to deliver on our purpose to enrich and celebrate life together. Registered nurses are rostered at all Estia Health homes 24 hours a day, seven days a week, facilitating strong care outcomes for our residents. There remains close surveillance across the sector from the Aged Care Quality and Safety Commission, and we are pleased that all of our homes remained accredited during the period, with a strong record of compliance across the group. Our employees are integral to everything we do. In a challenging environment for workforce, exacerbated by COVID-19 and record low unemployment, our priority has been to invest in career pathways, development opportunities via the Estia Academy, central support for local teams, and enhanced recruitment and onboarding systems. Despite remaining above pre-pandemic levels, it was pleasing to see our employee turnover levels stabilize during the second half of FY 2022, where it remains at present. Average occupancy for mature homes across the Estia Health portfolio for the year was 91.6%. We achieved net accommodation deposit, RAD inflows, of AUD 22.8 million during the year, bringing RAD balances to AUD 884.1 million at the end of the reporting period. RAD flows have improved further in quarter one, FY 2023, with an uplift in the current resident inflows, offset by a reduction in the probate balance for departed residents. The new AN-ACC funding model commenced on 1 October, and our project team ensured we were well-placed for the change. Funding levels are expected to increase in FY 2023, ahead of the introduction of mandated care minutes in FY 2024. Our new home in Blakehurst, in New South Wales, 105 places, which opened in February 2021, reached operational maturity ahead of expectations and continues to operate at near full occupancy. We are pleased with the success of the innovative service models implemented at Blakehurst, including our first wellness center, providing reablement services to residents as well as the broader community, and look forward to further expanding this offering across the portfolio. Moving on to the reform agenda. Following the Royal Commission, the new government's aged care sector reform agenda continues at pace, with ongoing clarification and refinement as proposals are advanced. The reforms will drive greater transparency, governance, and competition, which is designed to lead to better resident outcomes and more efficient use of taxpayer-funded subsidies to the sector. Estia Health has a robust operational platform, a strong financial position, and is well-placed to take advantage of growth opportunities likely to occur as a result of the reforms. The key reforms which remain outstanding include star ratings, due to commence from December 2022, which will provide an overall rating based on four criteria, compliance, performance, customer experience, quality indicators, and average staff minutes. The sector is awaiting further detail on the specific inputs and calculation methodology to better understand likely outcomes. The Independent Health and Aged Care Pricing Authority, IHACPA, which will have responsibility for making recommendations to government in relation to the costs of providing care from July 2023, replacing the current indexation system, and mandated care minutes, with a requirement for 200 average care minutes per resident per day by October 2023, increasing to 215 minutes in October 2024. The net outcome to providers will become clearer once the requirement is fully legislated and IHACPA consider the implications for requisite funding levels, which will be important to ensure the financial sustainability of the sector. Estia Health continues to believe that limiting the definition of care minutes to that provided by registered nurses, enrolled nurses, and carers, does not suitably recognize that there are other activities in the home that have a direct positive impact on the health, safety, and well-being of a resident, such as allied health, lifestyle, and recreational activities, psychosocial services, and some food services. Workforce has replaced COVID-19 as the biggest challenge being faced by the sector at this time. The intersection of mandated care minutes and workforce shortages continue to create concern in the sector. While larger providers have a relative advantage, the availability of labor is proving difficult to solve. The commitment and loyalty of the aged care workforce has been exceptional, notwithstanding the fact that rates of pay typically lag at comparable sectors. The shortage of staff across the sector, coming so soon after the pandemic, is resulting in acute pressure. As a consequence, staff costs have increased, even with lower levels of direct COVID-19 impact, with persistent higher levels of overtime and agency. The supply of labor via migration, particularly student visas, is improving, but is not expected to result in material improvement for some time. We are working hard to attract on board and retain staff, and to do so, we have invested in increased training and development programs, a sector leading graduate nurse program, and more broadly in recruitment systems, strategies, and resources. In FY 2022, over 17,700 training hours were delivered in clinical development, understanding dementia, and behavior management, and we hosted 1,936 student placements. We've also focused heavily on employee well-being in order to provide a safe and supportive environment through investment in our employee assistance programs, including the introduction of psychological first aid training across the group. A standout result in FY 2022 has been in our employee safety metrics, which have allowed us to implement self-insurance for workers' compensation in New South Wales and South Australia, with flow-on benefits to costs and improved recovery and re-return to work rates. As a result, we saw the LTIFR in FY 2022 reduce to 8.8 from 11.9 in FY 2021, a figure less than half the sector average. Pleasingly, the figure has continued to trend downwards in quarter one, FY 2023. The proportion of our workforce on enterprise agreements increased during FY 2022 to 96%, with a new EA being implemented for our SA non-nursing staff. We also renewed two other EAs in the last 12 months at an average increase of 2%-3%. Looking forward, the Fair Work Commission work value case, which is considering a request for a 25% increase in aged care wage levels, will likely be critical to increase the attractiveness of the sector to new staff, retain current staff, and potentially motivate staff to return who have left the sector. The government have supported the claim and committed to fund the outcome. Moving on to growth. Growth remains a focus of the group, albeit in a highly disciplined manner. We have ensured that we are well-placed to expand as industry dynamics result in opportunities for strong, well-funded providers. Our greenfield projects at St Ives and Aberglasslyn, both in New South Wales, are well underway and due for completion quarter one, FY 2024. Our first brownfield development for some time at Burton in South Australia is virtually complete and is beginning to welcome new residents. Together with the Premier Health Care acquisition that I will discuss shortly, operational places are expected to increase by more than 10% over the coming 12 months. These new homes and rooms will be commissioned in a manner consistent with the successful approach taken to our most recent builds. Our refurbishment program executed over recent years sees 62 homes now qualifying for the higher accommodation supplement. We will continue our rolling program of home upgrades and asset lifecycle replacements to ensure our homes remain competitive in their markets. In relation to diversification, due to sector challenges, increased regulation and low returns, it is considered unlikely at this time that we would seek to enter the home care market at any significant scale. The current acute inflationary and supply pressures in the construction industry have had an impact on building costs, with new supply remaining suppressed. I had said at the time of our full year results release that the difficult operating environment for aged care may result in some providers, particularly at a smaller scale, seeking to exit the sector, that it was likely that the investment cycle may be tilted more towards acquisition growth for the short to medium term, and that we were continuing to review opportunities in the ordinary course. It was as a result of those factors which last week led us to announce the acquisition of four homes from the Premier Health Care Group. Our confidence in making the acquisition is due to the ongoing strong performance of new high-quality homes with good amenity. Our most recently opened homes at Southport, Maroochydore, and Blakehurst, all built, commissioned, and opened by the group during the last three years, consistently operate at high levels of occupancy and each reached 95% occupancy in less than 18 months, with strong RADs exceeding 15%, 50% of the capital costs. Each home generates annualized EBITDA in excess of AUD 20,000 per bed when adjusting for the temporary cost of COVID-19. More broadly, we are also focused on adding value by optimizing our substantial freehold property portfolio. Moving on to the Premier Health Care acquisitions. The acquisition of the Premier Health Care assets represents an attractive opportunity to add 409 resident places in high-quality assets, three of which are less than five years old. The agreement is subject to regulatory approvals in relation to the transfer of resident places and is expected to complete by early December 2022. Two homes are in Adelaide, South Australia, and two are in Southeast Queensland, and all are aligned to our existing successful operating clusters. All four homes are fully operational and have demonstrated good operating performance despite the challenges arising from COVID-19. These homes are of the highest quality and provide us with an opportunity to apply our proven commissioning skills in finalizing the ramp-up of the two operating assets in Queensland, with 80 new vacant single ensuite rooms available for occupation. Together with the optimization of the resident mix in the South Australian homes, we are confident that the homes will deliver additional RAD inflows of approximately AUD 10 million, reducing the effective net cash consideration for the acquisition. Our plans are expected to see earnings from the four homes to increase to be in line with the performance of our own recently commissioned homes once ramp-up is complete, which we are aiming to largely achieve by the end of FY 2023. The acquisitions are expected to be EPS accretive from FY 2023. Moving on to a trading update. I'll now provide an update on operational performance for the first quarter of this financial year. Spot occupancy on our mature home portfolio of 6,163 places, excluding the Burton expansion of 24 places, was 92.3% at 31 October 2022. Average occupancy for the first quarter was 91.7% compared to the second half of FY 2022, which was 90.6%. The 24-room extension at Burton in South Australia will fully complete this month, with eight new residents already admitted. The impact of COVID-19 has continued to decline during the first quarter of FY 2023. Total estimated incremental costs associated with prevention and response were AUD 8.9 million for the quarter, compared to AUD 13.4 million in the prior quarter. The number, severity, and duration of outbreaks has, in general, reduced, though we are cautious around the small increase in aged care infections reported by the Department of Health and Aged Care in recent weeks. Our grant applications in relation to costs incurred in FY 2022 continue to be processed by the government with ongoing delays. The final total for grants submitted relating to FY 2022 costs was AUD 41.9 million, of which AUD 19.1 million has now been either paid or confirmed. We have seen minimal adjustments post-submission and expect further confirmations and receipts before 31 December 2022. The group's average AN-ACC funding for October, the first month of operation, was AUD 223 per day. There remains a large number of reassessment applications lodged which are not reflected in that figure, and we continue to anticipate AN-ACC for FY 2023 to be broadly in line with the expected sector average of AUD 225 per day published by the government. Total RAD balances have increased by AUD 6.5 million since 30 June 2022. RADs held on behalf of current residents have increased by AUD 8.9 million in the first quarter, and the probate balance has reduced by AUD 2.4 million. Net debt at 31 October, excluding the impact of the Premier Health Care acquisitions, was AUD 75.9 million. In conclusion, for the first time in four years, the sector is nearing a point where we have a significant degree of certainty surrounding the regulatory framework, albeit there remains key elements to be determined over the coming 12 months, including mandated care minutes and the operation of IHACPA. It is imperative that the final framework supports the provision of services which deliver good resident outcomes, ensures the sustainability of our critical sector, and encourages further investment to meet the needs and expectations of future generations. More broadly, we expect to see the industry benefit from higher occupancy as the impact of COVID-19 lessens and a reduction in new supply intersects with the aging population, which will see the number of people over 85 increase by 60% in the next decade. I'm grateful for the extraordinary commitment, dedication, passion, and care shown by all of our employees at Estia Health. They care for our residents at a time of great challenge, and their support and dedication is the key reason for the ongoing success of Estia Health. Thank you very much. Thank you, Sean. I would now like to open the meeting to general business questions. You will have the opportunity to ask questions pertaining to each resolution when we get to the formal business of the meeting. A reminder that this is a shareholder meeting, and therefore, only shareholders or proxy holders are able to ask questions or make comments at this meeting. I now invite questions or comments from shareholders or proxy holders present in the room. I ask that you please state your name and then ask your question. Are there any questions? I'll now take general business questions received through the online platform. Leanne, are there any questions? Yes, Gary. The first question is Peter Aird from the Australian Shareholders' Association, representing retail shareholders. You note concern about your high employee turnover in FY 2022, and you report significant increases in professional development and training per employee. What other actions are you taking to reduce staff turnover? Thank you. I'll perhaps just initially respond to that question by directing attention to page 13 of our annual report, which illustrates that our employee turnover, which is high, 29.6%, would be well below turnover experienced by other players in the sector. Also would draw shareholders' attention to the statistics in relation to professional development. You know, professional development programs completed in FY 2022 for our team members comprised 38,823. By comparison, in FY 2019, that number was 4,959. We invest very heavily in resourcing our team and empowering them to contribute to the sector. Sean, perhaps I might ask you to provide more granularity. Yeah. Thank you, Gary. I think we take a holistic approach to the retention of our employees. We look at employee well-being in a very broad sense. One of the things we do is really have an active listening program to our employees, and we've recently completed an employee pulse survey across the entire organization, which we were really pleased with the results, which actually indicated our level of engagement of our teams out on the ground actually went up over the last 12 months despite everything they've gone through. We think that's a good marker of the sort of programs we have in place. We're very focused on the orientation and onboarding phase as well. It's one thing to recruit employees. When you look at the numbers across the sector, a lot of employees bounce out of the sector very quickly, because they don't get the experience they thought they were going to get. We invest heavily in our orientation and onboarding of new employees into our homes, and our central services. I probably think the other thing I'd say, Gary, is particularly around our regional support structures. We talk a lot about our operating clusters. I talked about that in reference to the acquisition we made and the importance of those acquisitions matching up to our regional support structures. That's something we've invested heavily over the last few years. We have resources on the ground in all of the key functional expertise and all of the key areas. To make sure that our teams on the ground have support, you know, each day in all of the key areas, be it safety, in human resources, in business development, and particularly in clinical and quality areas. I think they're probably the key things, Gary, we're really focused on from an employee retention perspective. Thank you, Sean. Any other questions, Leanne? Yes. We have another question from Peter Aird. I note that the directors' skills matrix is once again published in the Corporate Governance report rather than the directors' report to the annual meeting. Are you concerned that your skills in ESG seem to have reduced in 2022, and that your technology and innovation skills are only rated medium by half your directors? Thank you. I might ask Paul to respond to that question. Paul, as chair of our Nomination and Remuneration Committee. Thanks, Gary, and thanks for the question, Peter. I will say that, across the organization at board, executive, and indeed at all levels of staff, the focus on ESG continues to rise. You'll see that our levels of disclosure and reporting with respect to ESG continue to go up. It's very clear, back to the last question in terms of sort of Sean's response, that our employees are expecting more from us as an employer, with respect to our levels of engagement, around sort of ESG matters. There is a commitment at the board level for all directors to continue to, develop focus and skills. You know, we continue to constantly evaluate as a board where our skills diversity and our skill set lies, and certainly look at continuing to build that both with existing and over time, you know, potentially sort of new director appointments. The second part of the question, Leanne, was technology. Yeah. You know, again, it's very clear when we look at you know what's occurring broadly in corporate Australia, that certainly with respect to cyber security, privacy, et cetera, the bar continues to rise. Certainly as a board, we're spending increasing amounts of time discussing both our existing levels of protection, our existing levels of IT resilience, but also the program of future investment that is sort of required to make sure that we keep developing in line with that. Again, I would say to you, if there's any perception looking at the skills matrix of sort of, you know, this year versus last year, it's probably more a reflection of the environment and the demands being posed by that environment than any fundamental change, you know, in sort of skills at the actual board level. The bar continues to rise, no doubt. Thank you, Paul. Leanne, any other questions? We have no more- Thank you. General business questions, Gary. Thank you. We'll now proceed to the formal business of the meeting. Item one, financial statements and reports. The first item of notified business is to receive and consider the financial report, the directors' report, and the auditors' report for the year ended 30 June 2022. There is no formal resolution required for this item, but I invite shareholders to ask questions or make a comment on the financial report or the reports of the directors and auditors. Ask questions or make a comment on the management of the company. Ask any questions of the auditor relevant to the conduct of the audit, the preparation and content of the auditors' report, the accounting policies adopted by the company in relation to the preparation of the financial statements, or the independence of the auditor in relation to the conduct of the audit. I will now take questions on this item of business. Are there any questions from anyone in the room? Leanne, are there any online questions? We have no questions on this item. Thank you. I will now move to item two, the remuneration report. I will put the resolution to the meeting as displayed on the screen. The direct and proxy votes for this item received prior to the meeting are now shown on the screen. I will now take questions on this item of business. Any questions from anyone in the room? Leanne, are there any online questions? We have two questions online, both from Peter Aird of the Australian Shareholders' Association. The first question, I note that the STI financial measure is net profit after tax in FY 2022, which was not met due in part to the bed license write-offs. Do you intend to change this measure to something more within management's control in FY 2023? Shareholders would appreciate notice of any change to performance measures ahead of them actually being implemented. Thank you. Again, I might ask Paul to respond. Thanks again for the question, Peter. As you've noted, there were a number of factors that impacted on the net profit after tax result in FY 2022, particularly around the decision made accounting-wise with respect to bed licenses, as well as COVID costs. The reason we have a balanced scorecard is to make sure that we're spreading our, if you like, KPIs against which management is measured across a range of different financial and non-financial measures. We do believe that having a financial measure that is comprehensive that does take into account in the normal course of events all the things that management has the ability to influence is important, and therefore it will remain a key part of the scorecard. With respect to the specifics of the measure, we will fully disclose those when it comes to reporting at the annual report next year. Thank you, Paul. The next question from Peter Aird is: I note your policy of directors holding shares in the company, but that the shareholding requirement is only 50% of the director's base fee. Many Australian companies require directors to hold shares equal to the value of their base director's fees. Although some use the net after-tax amount rather than the gross amount. Will you consider a change to your policy to bring it in line with Australian business practice? Again, I'll ask Paul to respond. Thanks again for the question, Peter. There is a variety of different policies out there with respect to management and board shareholdings, and we believe we have a comprehensive policy. We note that all directors are in accordance and in compliance with our policy, and we believe it provides an appropriate and substantial alignment of interest between shareholders and the board. Thank you, Paul. Any other questions, Leanne? We have no more questions on that item, Gary. Thank you. We'll now move on to item three, which relates to my re-election as a director, and I'll ask Paul to assume the chair for this item. Thank you, Gary. This item is for the re-election of Dr Gary Weiss AM as a non-executive director of the board of Estia Health Limited. I put the resolution to the meeting as displayed on the screen. That Dr Gary Weiss AM, being a director who is retiring in accordance with clause 10.3 of the company's constitution and ASX listing rule 14.4, and being eligible, offers himself for re-election, be re-elected as a director of the company. The direct and proxy votes for this item received prior to the meeting are now shown on the screen. I will now take questions on this item of business and invite questions or comments from shareholders or proxy holders present in the room. Leanne, are there any online questions? We have no questions on this item. Are there any other questions on this item at all? Thank you, and I'll now hand the meeting back to Gary. Thank you, Paul, and thank you, everyone. Item four relates to the re-election of Paul Foster as a director of the company. I put the resolution to the meeting as shown on the screen. The direct and proxy votes for this item received prior to the meeting are now shown on the screen. I will now take questions on this item of business. Any questions from anyone in the room? Leanne, are there any online questions? We have no online questions in relation to Paul's re-election, but we've just received one from Peter Aird that's come through on your re-election, Gary, if I may read that one out now. Yep. His comment and question is: I note Dr. Weiss's clear passion and energy for Estia. His workload continues to be of concern and exceeds ASA guidelines. You are asking for a further three-year term. When will you start succession planning for the board chair? Succession planning in Estia is very much part of our ordinary course of business, and I think one can see from both board succession generally as well as particularly executive succession, that has been something which I believe the company has done very well, and I would see chair succession being similarly dealt with appropriately by the board in due course. Any other questions now? No. No other questions. Okay. Item five relates to the election of Professor Simon Willcock as a director of the company. I put the resolution to the meeting as shown on the screen. The direct and proxy votes for this item received prior to the meeting are now shown on the screen. Are there any questions relating to this resolution from anyone in the room? Leanne, are there any online questions? No questions, Gary. Thank you. The next item of business relates to long-term incentive grant to Sean Bilton. Details underpinning this resolution is outlined in considerable detail in the explanatory memorandum to the notice of meeting. I now put the resolution six of the meeting as shown on the screen. The direct and proxy votes for this item received prior to the meeting are now shown on the screen. Are there any questions from anyone in the room relating to this resolution? Leanne, are there any online questions? We have no online questions. Okay. Thank you. Item seven, amendments to the constitution. That's the last item of business. I put the resolution to the meeting as shown on the screen. The direct and proxy votes for this item received prior to the meeting are now shown on the screen. Are there any questions in the room relating to this resolution? If not, Leanne, any online questions? No online questions for this item. Thank you. Ladies and gentlemen, this concludes the formalities of the meeting. I ask that you now complete your voting card if you've not already done so, and Link will collect these. For those attending online, you should now submit your votes. The poll will remain open for a further five minutes to allow you to complete your voting on your electronic voting card, with the poll closing after that time. As I mentioned earlier, the results of this meeting will be announced to the ASX as soon as they've been counted and verified. Before closing the meeting, I want to once again on behalf of my board colleagues extend our sincere thanks to Sean and all the executive team and all our team members at Estia for their extraordinary contribution during what has truly been the most challenging of times. Sean, please convey to everyone how, you know, not only our support for everything that you've done, but also, I believe, on behalf of shareholders for the extraordinary commitment that and dedication that our team makes to looking after the approximately 8,000 residents who rely on us for care. I'd also like to thank shareholders for your support and participation today, and I look forward to meeting you again at next year's annual general meeting. Thank you.