Good afternoon, everybody. My name is Rhonda Sherriff, and as Chair of Promisia Healthcare, it's my pleasure to welcome you to the company's annual shareholder meeting for 2026. Thank you for taking the time to join us today. We appreciate your continued support and interest in Promisia, and look forward to updating you on the progress made over this past year, where the business stands today, and the next stage of our growth. But beforehand, a few housekeeping matters before we begin. For those joining us online, welcome. There will be an opportunity at the end of the presentations for shareholder questions. Online questions may be submitted at any time using the Teams chat function. If the fire alarm sounds during the meeting, please make your way calmly to the nearest exit and gather at the designated assembly point. Staff will be able to assist you if required. Today's meeting is being broadcast on Teams but is not being recorded. A copy of the presentation, together with the prepared speeches accompanying it, will be available through the NZX and Promisia websites. Please also ensure your mobile phones are on silent, and if you need to leave the meeting at any stage, please do so quietly. I am joined today by my fellow directors and members of our senior leadership team, whom I will introduce in a moment. But first, let me formally open the meeting. The company secretary has confirmed that the notice of meeting has been sent to all shareholders and that a quorum is present. In addition to the shareholders present, proxies have been appointed for the purposes of this meeting in respect of approximately 33.9 million shares, representing approximately 63.9% of the total shares on issue. The voting process includes any voting exclusions applying to particular resolutions, will be explained before we move into the formal business of the meeting. On that basis, I now declare the 2026 Annual Shareholders Meeting of Promisia Healthcare Limited open. Before we begin the presentation, I'd like to introduce my fellow board members, Thomas Brankin, Tony Mortensen, Jill Hatchwell, and Craig Percy. Also joining us from the senior leadership team today are priorities, care, quality, and occupancy, and the people behind our performance. We'll then spend some time on the proposed Chatswood acquisition, including what we are acquiring, why it fits Promisia, and the key terms of the transaction. After that, we'll open the floor for questions and discussion before moving into the formal resolutions set out in the notice of meeting. Over the past two years, much of the work at Promisia has been about getting the fundamentals right, stabilizing the business, strengthening the balance sheet, and putting the right leadership and operating disciplines in place. This year, we began to see the work translate into something more tangible. Stronger performance, greater consistency across the group, and a much clearer sense of what Promisia can now do next. So I want to spend a few minutes reflecting on what changed through this past financial year and why that matters for the next stage of the company. For the year ending 2026, it was the year that reset the translation into results. Occupancy improved materially, earnings and operating cash flow strengthened, and asset values increased across the portfolio. A significant part of that came from the operating platform we have now built. Graeme joined us in May last year and has brought strong operational discipline and a clear focus. Graeme and Francisco work very closely together, and that alignment between operations and finance has made a real difference across the business. We now have a much clearer operating model, and one that can be applied consistently across our homes and villages, and repeated as the group grows. None of this happens without our people. Our care teams, facility managers, and support office have been the ones delivering these improvements on the ground. They have continued to care for our residents while lifting standards, improving performance, and working through a significant amount of change. On behalf of the board, I would like to thank them for everything that they have contributed over this past year. All of that leaves Promisia in a much stronger position. We have a stronger balance sheet, a more stable and repeatable operating platform, and greater capacity to grow. It also means we can now begin returning cash to shareholders while continuing to reinvest in the business and pursue the right growth opportunities. That is the thinking behind the dividend policy we have adopted for year end 2027. The policy is deliberately simple and cash-based. Dividends will be assessed from operating free cash flow rather than accounting profit. In simple terms, we start with underlying EBITDAF and then deduct the cash costs the business needs to meet. That includes interest and required debt repayments, tax, and the capital expenditure needed to maintain our existing assets. What remains is our operating free cash flow, the policy provided for ordinary dividends of between 20% and 40% of that amount. We also expect these dividends to be fully imputed. The range gives the board some flexibility. It allows us to return cash to shareholders while continuing to invest in our existing home and villages, maintain a strong balance sheet, and pursue growth where it creates value. Each dividend will still be considered by the board based on the company's performance, financial position, funding requirements, and the opportunities available at the time. The important change is that shareholder returns are now a formal part of how we allocate capital alongside reinvestment and growth. Promisia has come a long way over the past two years. There is still plenty to do, but the business is in a much stronger position, and the board is confident about the year ahead. Thank you. I will now hand over to Francisco. Thanks, Rhonda. Good afternoon, everyone. FY 2026 was a really strong year for Promisia, and we are really proud of the result we achieved. I will start with a quick overview of the key numbers that show that progress. As you can see on the slide, every one of those measures moved materially in the right direction. Revenue increased by 29% to NZD 40.1 million. That reflected a full year contribution from Cromwell, higher occupancy across the group, and the annual care funding increase from July 2025. That growth flowed through into underlying EBITDAF, which increased by 58% to NZD 6.6 million. We maintained good control over our costs, allowing more of that revenue to flow through to the bottom line. Importantly, it also translated into much stronger cash generation. Net operating cash flow increased by 87% to NZD 6.4 million. A particular lift came from the care suite sell-down at Ranfurly Manor, which generated strong ORA resale cash flows through the year. All of these results were underpinned by occupancy. Group care occupancy increased from 87%- 94% by year-end. It has continued to build since then, with occupancy now consistently above 95%. The improvement in operating cash flows also came through in the value of our homes and villages. NTA per share increased by 38% to NZD 1.09, with every one of our sites increasing in value by at least 10%. At the same time, we remained disciplined around debt and reduced our loan-to-value ratio from 42.9% 31.8%. We ended the year earning more, generating more cash with higher asset values and materially less leverage. That stronger financial position gives us much greater flexibility around reinvestment, growth, and shareholder returns. Getting to this point has required a deliberate balance sheet reset over the past three years. We have consolidated all of our bank debt with BNZ and then simplified that further into a single group facility. We have also put a much stabler interest rate profile in place. Our weighted average interest rate is now around 5.7%. 9% of our bank debt hedged over a staggered two to four-year period. That gives us much better certainty around interest costs and future cash flow. The improvement in operating cash flow has also allowed us to rebuild liquidity. We currently have around NZD 6 million available, and that continues to build as the business generates more cash. At the same time, our asset base has grown both through acquisitions and the increase in value across our existing portfolio. NTA per share has more than doubled, from NZD 0.46 to NZD 1.09. Importantly, we have achieved that while keeping bank debt drawn below where it was three years ago. The result is what you can see in the chart. Our loan-to-value ratio has reduced from 59.1% down to 31.8%. We now have a larger, more valuable asset base, a cleaner funding structure, stronger liquidity, and significantly lower leverage. That gives us the capacity to continue to invest in the existing portfolio, support ordinary dividends, and pursue growth in a disciplined way. Against that backdrop, we remain very confident in the outlook for FY 2027. We have reaffirmed our guidance for underlying EBITDA of at least NZD 8 million, representing growth of at least 20% on FY 2026. That guidance is based on our existing portfolio, and it does not include the proposed Chatswood acquisition or any other material capital activity. A key part of delivering that result will be maintaining group care occupancy at or above 95% throughout the year. We are already operating at that level, so the focus now is holding it there and continuing to improve performance across the group. We also expect operating free cash flow to improve materially through FY 2027. That will support ordinary dividends under the new policy, while still allowing us to reinvest in the business and maintain the financial flexibility we have worked hard to build. On that basis, we expect to pay an interim dividend following our half year results. The level of the dividend will be determined in line with the policy and the performance and cash generation of the business at that point. We will come back to Chatswood in more detail later in the presentation. Subject to shareholder approval and the acquisition completing as planned on the 1st of October, we expect to update the market at our half year results on its contribution to FY 2027 earnings and any resulting change in our underlying EBITDAF guidance. With that, I will pass over to Graeme. Thank you, Francisco. Good afternoon. This time last year, I had just got my feet under the desk and had undertaken what I called at the time a health check of each home, village, and our support office. Following this exercise, at last year's annual shareholders meeting, we set out five pretty simple areas of priority and focus. At this year's meeting, I want to start by covering each of those priorities and go through what we have achieved and where things sit now. Then I would like to talk about where we are focused in the current financial year and beyond. The results Francisco has taken you through do not happen on their own. They come from the work at the coal face of each of our homes and villages, keeping beds full, residents safe and well. So let me take you back through our five simple priorities. The first was every bed's a promise. Our product is care, and every time we welcome a resident, we make a promise to them and to their family. That commitment sits at the foundation of everything we do. It is the standard we hold ourselves to. The second priority is lift and hold occupancy. Occupancy in our business is our oxygen. Group care occupancy started FY 2026 at 87%. By the 31st of March 2026, we had managed to lift this number to 94%. This number has kept building, and we are now consistently sitting above 95%. Underneath that group number, the site level results are strong. Nelson Street is full following the dementia and hospital conversion. Ranfurly, Aldwins, Golden View all sit consistently between 95% and 100%. In addition, as at today, 100% of our care suites are all sold. Lifting it is the hard part, but holding it there is now our challenge. The third priority was perfecting the recipe. Each of our homes and villages are quite unique and different, but great performance has similar settings and key ingredients that can be shared. Innovation can also be shared, and the clearest example of that for us is Ran-fit, our ACC-accredited strength and balance program, which started at Ranfurly, and now every one of our sites has been approved and accredited by ACC to run Ran-fit. Often, the best ideas come from the people closest to the work. Our job is to spot them, back the teams behind them, and then spread them across the group. The fourth priority was what we call operational excellence. This is the less visible work, a shared resident management system across every site, a new time and attendance system, and better buying and preferred supplier arrangements. These aren't headline changes, but they are the disciplines that sit behind a well-run business, and they're what allowed more of our revenue growth to flow through to our bottom line. The fifth priority was being positioned for growth. We spent the year strengthening our fundamentals, getting occupancy up, care quality improving, systems and teams working well. That's the foundation you need before you look at anything bigger. We've entered FY 2027 with some real momentum behind us. Last year, these were our five key areas of focus. This year, they're delivering. I also want to be clear about one thing. Commercial progress isn't ever intended to be achieved at the cost of care. We see the two going very much hand in hand. A well-run home tends to perform strongly commercially, operationally, and clinically. Ranfurly Manor passed its certification audit in September, with auditors noting the quality of the team, the satisfaction of staff, residents, and families. Golden View Lifestyle Village's audit told a similar story. Being part of the community, that matters just as much. At Ranfurly Manor, residents packed first aid kits for local food pantries, staff dropped baking off at the local fire brigade, and the home sponsors local sports teams and school events. It's more than providing a service. It's opening our homes up and being part of the communities around them. Behind every number on these slides are the people who make it happen. Our managers and leaders are central to that. Darren McKean at Ranfurly, Debbie McCusker at Aldwins House, Hayley McKean in Nelson Street, Kate Little, Jo Shepherd in Cromwell. Their leadership is probably the single greatest reason each site performs the way it does. Families don't just choose a building. They make a choice based on how people are treated and how they're made to feel. The work we do is tough. It's not for everyone. In our business, attitude is everything. We find there are generally two types of people, those who love the challenge of going out for a wonderful walk in the rain and those who just get wet. Success for us is all about nous, the mindset our teams have, the approach, and we recognize our best people through what we call the Promisian Badge. The highest honor awarded to those who are masters of their craft and who lift up those around them. At the heart of it's simple. We hire for heads and hearts, not just arms and legs. We're looking to people who are willing to walk with us rather than just work for us. Get that right and everything else follows. Occupancy, care, quality, and ultimately results. The same standard and focus on residents. Great people doing the right thing at the right time in the right way is exactly what we look for in Chatswood. Chatswood is an opportunity that we think fits very naturally with the business we've built. It is a high-quality home and village with a strong reputation for care, a good operating team, and a model that is very complementary to what we already have in Christchurch. Let me give you a quick overview of Chatswood and what Chatswood is and what we're acquiring. Chatswood is a modern, purpose-built retirement village and care home located in Ōpawa in southeast Christchurch. It currently has 100 operational beds and units across a mix of rest home and hospital-level care suites, and service departments. This includes 28 hospital-level rooms, all with full en suite, 42 care suites, and 29 service departments ranging from studios to one and two-bedroom apartments. What that gives Chatswood is a really broad continuum of care. Residents can move from assisted living through to rest home and then hospital-level care as their needs change. There is also the old 25-bed rest home wing, together with adjoining land and properties which provide some future development opportunities. This is not the immediate priority, but it does provide an additional opportunity for growth over the long term. For us, the strategic fit is particularly strong. We already have Aldwins House operating in East Christchurch, and our support office is also based here in Christchurch. Chatswood gives us much greater regional scale. Together with Aldwins, Chatswood would give us two of the largest care-focused sites in East Christchurch. Importantly, they are also very complementary. Aldwins is a large care-only home, while Chatswood adds the retirement village care suite service department offering. It gives residents greater choice and allows us to offer a much broader range of care within the same part of Christchurch. There are also some obvious operating benefits from having the two homes close together. Admissions, local marketing, staffing support, training, and procurement can all be supported across the two sites. Being close to our support office should also make the integration a lot easier. From an operational perspective, we think Chatswood fits very naturally with what we are already doing. Francisco will now take you through the transaction itself and what it means financially. Thanks, Graeme. The agreed purchase price for Chatswood is NZD 25 million. Majority of that is cash, with NZD 24 million payable on completion. The remaining NZD 1 million is split between NZD 500,000 of Promisia ordinary shares issued at NZD 0.50 per share, and a NZD 500,000 convertible note with a 12-month term, no interest, and a conversion price of NZD 0.50 per share. The transaction is fully funded. BNZ has committed NZD 20 million of new facilities, comprising a NZD 15 million two-year term facility and a NZD 5 million nine-month bridging facility. The balance will be funded from our existing liquidity. The transaction remains subject to shareholder approval today. Once that approval is obtained and the transaction becomes unconditional, completion is scheduled for the 1st of October. The important point for shareholders is that we expect Chatswood to be immediately accretive to both underlying earnings and operating free cash flow. Based on its current operating performance on a standalone annualized basis, Chatswood is expected to generate around NZD 7 million of care fee revenue, together with around NZD 1.5 million of deferred management fee income. Operating free cash flow is expected to be between NZD 2.5 million and NZD 3.5 million annually, depending mainly on the timing and level of ORA resale activity. The acquisition is also expected to be NTA accretive. Based on our 31st of March balance sheet, we expect NTA per share to increase by around NZD 1.1 or approximately 1%. Immediately following completion, we expect our bank loan-to-value ratio to be around 42%. We would then expect that to reduce further from there as the group continues to generate surplus operating free cash flow and use that cash to continue reducing debt. Any proceeds received from the exercise of our existing warrants would provide further capacity to reduce bank debt. As I mentioned earlier, our current FY 2027 guidance does not include any contribution from Chatswood. Subject to shareholders approving the transaction and the completion occurring as planned, we will incorporate Chatswood into our forecasts and provide updated FY 2027 guidance at our half-year results. The last point I want to cover is the process we have followed given the related party nature of the transaction. As shareholders will be aware, our Chair, Rhonda Sherriff, is one of the vendors of Chatswood. That means the acquisition is a related party transaction under the NZX Listing Rules. From the outset, we created a subcommittee of the non-interested directors, and that was established to oversee the process. Rhonda has not participated in any board discussions, decisions, or negotiations regarding the acquisition. The due diligence and commercial negotiations have been led by Graeme and I and supported by our external legal and valuation advisors. The transaction has been negotiated on a commercial arm's length basis. As part of that process, we commissioned CBRE to independently value Chatswood. CBRE's valuation came in at NZD 26.2 million, providing an independent benchmark of the non-interested director subcommittee in assessing the commercial terms of the transaction. There's also been independent scrutiny around the equity component of the transaction. The NZD 0.20 share issue price was agreed in April, when Promisia shares were trading below that level, and it is also consistent with the existing price of our warrants. NZX has granted Promisia a waiver from the requirement to provide shareholders with a separate appraisal report. The waiver was granted alongside the independent valuation, the disclosures provided to shareholders, and a formal certificate from the non-interested directors. Those directors have certified that the acquisition is fair and reasonable in the best interest of Promisia and its non-associated shareholders, and that Promisia was not influenced to enter into the transaction by Rhonda. Ultimately, though, resolution relating to the acquisition remains subject to shareholder approval today. The non-interested directors unanimously recommend that the shareholders vote in favor of the transaction. The two largest shareholders in Promisia have also confirmed their intent to vote in favor. That gives you the background to both the transaction and the process we have followed. Rhonda, I'll pass back to you, and we can open the floor for shareholder questions. Thank you, Francisco and Graeme. Before we move into the formal business of the meeting, we will now give shareholders the opportunity to ask questions. For shareholders present in the room, please raise your hand, wait for the microphone, and state your name before asking your question. For shareholders joining online, questions may be submitted through the chat function on Microsoft Teams. Matt will read online questions. Given my interest in the Chatswood transaction, I will refer any questions regarding that transaction to Francisco in the first instance. Open the floor for questions. Yeah. I have a question. My name is Frank Stewart. I'm the South Island chairman of New Zealand Shareholders' Association. One question we always ask is how many Okay, you count how many shareholders are in the room, but how many are online? I can see there's 25, I think. [audio distortion] 23. Yeah. Thank you. The other comment I could make is that this company appears to have done very well compared to other companies in the sector. I came along here, I'm not a shareholder, but I'm wondering why that is the case. I'm just listening to find out why. It's a good question to be asked. I'd imagine that, I think the majority of it's to do with what we've said in the presentation. We've worked really hard over the last three years to reset the company, strengthen our balance sheet, reshape the portfolio, and ultimately having Graeme on board to really focus on operations and getting occupancy up above 95%, 96%, has dramatically changed our financial results, our cash flows, and we're trying our best to make sure that shareholders can see that through market announcements and try to be as transparent as possible. I think the share price is a reflection of all that hard work, really. It would certainly be fair to say that the company has acquired good assets over the last couple of years, particularly down in Cromwell, and has looked at the existing assets that it has in its portfolio and looked at the ways that they can maximize the opportunities available within those existing assets. I think that has been due to a lot of the work of, obviously Graeme and Francisco, with the support of the board and thinking more about what the demands are in the regions where those assets are placed, as opposed to building assets and then hope that they will come. Mm. Well done. Thank you. Thanks, Percy. [audio distortion] I visited your Cromwell properties and talked to the staff and spoke to the occupancies, and I was very proud to be a shareholder. The remarks that came from them were absolutely excellent. It was a credit to you. I would just like to thank you all and endorse Frank's remarks. From the article I read in 2023, in that Shoeshine article in the NBR, it was saying you had a lot to mature or words to those effect. It is a credit to what you have done and to the company, Graeme. So thank you for that. Appreciate it. Thank you. Thank you. Anyone else in the room? Matt, is there any questions online? Great. All right. Thank you. If there are no further questions, we will move to the resolutions. There will also be an opportunity to ask questions on each resolution before voting closes. Before we begin, shareholders voting in the room should have received a voting card. If you do not have one, please raise your hand and we will arrange one for you. Sorry, Ma'am. A question has just come up online. Sure. Do you want to jump that? Yep. Sure. The first question is, sorry, this is from Greg. Given the leadership team has performed exceptionally well over the past year, I am interested to know, has the board given any thought to introducing expanding staff ownership initiatives better aligned with the long-term staff incentives with those of shareholders? I will admit, I couldn't hear that question. Have we got a microphone? We do not. We have microphones that are picking up online. I think- Can you just repeat the question, please? Yeah. Specifically, what thought is being given to staff long-term incentive equity programs? I think if we're thinking about from an executive level or from staff across the board? It talks to the leadership team, to speak. It's probably not best if Graeme and I. It's not a question we should answer. Rhonda or Tony, would you want to make a comment? Well, we do have a scheme in place for the senior team. Straight down, don't have place at this stage. I think it is an interesting consideration as we move forward as a company, as we grow up a little bit, and it would be nice to see that not just our senior team have some scheme in the game, but everyone gets an opportunity to partake in what is a really fantastic business and a growing and continuing opportunity for everyone. It has been discussed. It's been discussed at very early stages. It's very well-pointed and something that we will add to discussion and certainly coming meetings. Thank you for raising it. The second question from Greg was, given the expected capital headroom from the expected warrant conversion, is there any further acquisitions in the pipeline? We will need to wait and see how many of the warrants are actually exercised. We're in a nice position where our share price is well above the exercise price, so we would assume that a number would be exercised. I think it's good timing for us. We've got Chatswood, like I said in my remarks. LTV would move up to 42% immediately on completion. We ultimately would like to see our leverage mid-30s. So any kind of warrants exercise will help with that. I think we'll be focused on implementing Chatswood into the group, and that does take some time, so three, six months. Ultimately, yes, we're always scanning the markets. We've always said that we are looking for large-scale, care-focused facilities that have some sort of integration with a village aspect, whether that's villas, care suites, or apartments. So yes, we're constantly scanning the market. I would say that it needs to make strategic sense. Yes, you can continue to see Promisia grow ultimately over the next five years. Okay. Thank you. Each of today's resolutions is an ordinary resolution. That means it must be approved by more than 50% of the votes cast by shareholders entitled to vote on that resolution. Resolutions 1 concerning the remuneration of Promisia's auditor, William Buck, New Zealand remains the company's auditor, and shareholders are being asked to authorize the directors to fix the remuneration for the coming year. Are there any questions regarding Resolution 1? If not, thank you. Please record your vote for, against, or abstain. Resolution 2 concerns the re-election of Craig Percy. Craig has more than 20 years' experience across the aged care and retirement village sectors in both New Zealand and the United Kingdom. That includes senior operational roles with LifeCare Residences in London and Eldercare in New Zealand. Craig also provides Promisia with temporary executive support while we recruited a permanent Chief Operating Officer. The board now considers Craig to be an independent director and unanimously supports his re-election. Are there any questions regarding Resolution 2? Thank you. Please record your vote for, against, or abstain. As my re-election and the Chatswood transaction are the subjects of the next two resolutions, I will ask Tony as our Chair of Audit and Risk to call these resolutions. Thank you, Rhonda. Resolution 3 concerns the re-election of Rhonda Sherriff, current Chair. Rhonda has worked in the aged care sector for more than 30 years across governance, senior leadership, clinical care, quality, and operational management. She is also a valued board member of the New Zealand Aged Care Association and continues to provide advice and support to participants across the sector. The board considers Rhonda to be an independent director and unanimously supports her election. On a personal note, I have appreciated working with Rhonda, and I have learned a lot about what it means to provide high-quality care to residents and support their families. Her professionalism and her leadership, both at the board level and the executive team, has been exemplary. Thank you. Are there any questions on Resolution 3? Thank you. Could you please record your vote for, against, or abstain? Resolution 4. Resolution 4 concerns the post-acquisition- Excuse me, Tony. An online question just came in. How many shares does Rhonda own? Which proves us that at present, Rhonda does not own any shares in the company but will be receiving shares under the transaction as set out in the notice of meeting. Thank you. Resolution 4 concerns the post-acquisition of Chatswood Retirement Village. As outlined earlier, Promisia has agreed to acquire Chatswood for a total consideration of NZD 25 million. The resolution also covers the related party nature of the acquisition, the scope of the acquisition in the context of our market capitalization, the proposed issue of Promisia shares, and the convertible notes forming part of the purchase price. Shareholder approval is required under the applicable NZX Listing Rules covering major transactions, related party transactions, and the issue of new equity. Rhonda and her associated persons are excluded from voting on this resolution. The non-interested directors unanimously recommend that eligible shareholders vote in favor of Resolution 4. As Chair of the Audit and Risk Committee, I would like to commend Rhonda on her integrity and the way that she has personally and professionally managed the obvious conflict of interest during this process. Rhonda. Are there any questions on Resolution 4? Jim, one question. Who approached who in relation to the sale? It was me. It was Graeme and I. Like I said previously, we are always looking at care facilities in the market. We knew that one quite intimately well through the relationship with Rhonda, and we ultimately saw that it was a really good strategic fit specifically with Aldwins House, and so we approached Rhonda and her JV partner. Any other questions? Thank you. Would eligible shareholders please record their votes now. For, against, or abstain. Thank you. I will now hand back to Rhonda for the final resolution. Thanks, Tony. Resolution 5 concerns the aggregate annual amount that may be paid to Promisia's directors. Shareholders are being asked to approve an increase from the amount originally approved in 2020 to a new maximum annual pool of NZD 350,000. If approved, the new fee pool will take effect from the 5th of September 2022. The increase reflects the growth in the scale and complexity of Promisia, the increased workload across the board and its committees, and the need to attract and retain directors with the experience required for the next stage of the company's growth. The proposed allocation is set out in the notice of meeting and includes fees for the chair, the non-executive directors, and the chair of the Risk, Audit, and Assurance Committee. All directors and their associated persons are excluded from voting for this resolution. Are there any questions on Resolution 5? [audio distortion] Nothing online. Thank you. Eligible shareholders should now record their vote for, against, or abstain. That completes the resolutions and the formal business of today's meeting. Thank you to everyone who has joined us here today, both here in person and online. The voting results will be released to the NZX as soon as they have been formally confirmed. I would like to open the opportunity at this point for any further questions from the floor before we close. [audio distorion] Duncan Priest. Not a question, but an observation. Following Mr. Penman's visit, or at least the remarks he got. He asked, gone a long way in a short period of time. The press always seems to want to go backwards. You talk about the 10 iterations that this company used to be. I suggest that if you, management, have interviews with the press in the future, just underline that this company, that's nothing to do with the 10 iterations that it's had seen since 1982. Yet, guys like Tim Hunter seem to wonder well on past problems, as if this company has still got a problem. I'd just like you to keep that in mind. We would. Thank you. Thank you. Yeah. No worries. Thank you. Just two more questions have come in. One, is a dividend contemplated this financial year? Yes. The dividend policy that we've adopted is from the 1st of April, 2026. As I said in my remarks, we're now in a position where we expect to pay a dividend at our half-year results, which will be mid-November. We'll be able to disclose more once we release our results. The other question is from Brian. I noticed an article about the difficulty of attracting nurses into the area of aged care. Is this seen as an issue for PHL? Yeah. I think we saw the same article. I think it's across every sector, attracting staff, retaining staff, is an issue. Particularly for aged care, when we're sometimes competing against the government. Some of our staff could work for us or in the hospital sector. There's a lot of work going on with the association to continue lifting the profile of the sector and how it's perceived. We ourselves try and do a lot of that as well. I think part of it is, as a company, how we treat our nurses, how we can look after our nurses, how we can retain our nurses. But equally, how we can give people prospects. We've got a huge number of staff that come from overseas, and we're very grateful for the work they do. I think it's always going to be on our radar. It's something that we always need to be focused on. One thing I talk about is I don't think residents are going to be our constraint. Our constraint is going to be having good people to look after them. Very much on our radar. Maybe a board trip. What's that? Maybe a board trip to the Philippines might be the answer. Yeah. That is a reality. People come to New Zealand and we have staff whose kids are in the Philippines. It is just how can we look after them? Yep. Is there anything you want to comment about the taxes that have been thrown about, how it might affect the company going forward? Are there any concerns there that any of those taxes, like capital gains and wealth, et cetera, that they are talking about that might affect the company? No, I would not have thought that would have a material impact on Promisia. No, not a concern. Again, in reality, I do not think there would be a material impact on us really. We are HCF focused. Thank you. Any further questions? Okay. Chair, Humphry Rolleston. I am a shareholder. Thank you very much for everything you have done this year. A big thank you, Graeme, to you and your team. Thank you. To Francisco and your team. I would like to just say, I know I have a vested interest in saying this, but I would like to thank too. I have been involved in quite a few public companies over my time, I know the amount of work that you can and cannot do as a director of a public company. I have observed the amount of work he has done, and thank you, Tony. I think you two are a big part of getting Promisia moving from being a sort of baby nothing company to being a small, competent, growing company. My observations are that you will continue to exceed your forecasts. You will exceed NZD 9 million EBITDAF for this coming year, and you will exceed NZD 12 million followers. I say that because I do my own calculations, I sort of know how it works. Well done, and it's a pleasure to be part of this company. I do hope that the warrant holders front up and trust you with another NZD 14 million of capital cash. You will actually be able to do something with that that is seriously meaningful, and that should see both dividend growth and share price growth. Finally, Graeme, our thanks to your 470 staff throughout our five facilities. Clearly, they're doing a brilliant job because your occupancy rates are what you say they are, and I think that's marvelous. As a family, we're very proud to be involved. Thank you. Thank you, Humphry. Thank you, Humphry. One other question that came in, would a land tax have any impact? Yes, it would. I imagine they are talking about The Opportunity Party's land tax, and I think in the reality, even if they were to come into government in a coalition, that would not be a case that actually comes to fruition. Yes, a land tax would, but the reality is that is not going to happen. Okay. I would just like to make a final observation of my own. I know there was a question came up earlier about what we believe sets Promisia apart from the larger corporate companies. We are a smaller company at this stage, and whilst we care for a significant number of residents nationally, and we have some fantastic staff, without Graeme's guidance, and the thought that we are still small enough to care, and it is not just caring about our residents, but it is caring about our staff as well, I believe is what actually sets us apart. I want to endorse to both of you how much respect I hold for both of you. I do believe that with you both at the helm, this has led to some outstanding results this year, and I am very proud to be involved. Thank you. Thank you, Rhonda. Appreciate it. Same to my fellow board members. All right. I am now going to declare the 2026 Annual Shareholders Meeting of Promisia Healthcare Limited closed. We encourage you to stay around to join the board and management for light refreshments. Thank you.