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EUREKA GROUP HOLDINGS

Eureka Group Holdings (EGH) is an expanding specialist provider of seniors’ accommodation, with operations in Queensland, New South Wales, Victoria and South Australia. The company holds a mix of both freehold ownership of, and management rights to those seniors’ accommodation villages.

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Robin Levison was appointed as the group’s Chairman in December 2013and resigned from the Board in March 2017. The Ignition Group of Companies continues to hold a 6 % interest in the company.

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On taking leadership he implemented a clearly articulated long-term growth strategy designed to capitalise on the strong underlying fundamentals of the Australian seniors’ accommodation sector by:

  • identifying and divesting lower value/underperforming management rights agreements; and

  • using these proceeds, combined with a balanced mix of equity and debt, to invest in higher yielding ‘bricks and mortar’ village assets and additional management rights.

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The strategy pursued by Robin and carried on by the current Board and management has delivered discernible value to shareholders, with the company’s results for FY2019 seeing:

  • Forecast EBITDA of $7.7-8.3M

  • Total Assets at 31 December 2018 of $131M

  • 2,138 units under management

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