2014 Annual Report

  • Successful oversubscribed $18.5m capital raising through placement and Share Purchase Plan.

  • Acquisition of 19 dental practices providing $28.1m in additional annualised gross revenue.

  • Aotea Pathology signed $26m contract extension to end-October 2015.

  • Closure of the three Bay Audio Hong Kong stores due to lack of scale and high retail rental costs.

  • Relocation of regional support office from Hong Kong toTaiwan.

  • Received and rejected unsolicited, indicative proposal from Archer/Hutson/Reeves consortium. Proposal withdrawn on 28 November 2013.

  • Resignation of Peter Hutson as Director.

  • Grant Samuel independent valuation provided value per share of between $8.30 to $10.05 for 100% of the business.

  • Response to ongoing Hutson/Reeves campaign and special meeting requisition.

  • Finalist at 2014 INFINZ Awards for Emerging Leader Best Corporate Communicator category and M&A Transaction of the Year category.