The ASX-listed provider of affordable accommodation in residential communities, retirement villages and holiday parks has been unsuccessful in its bid to buy the ASX-listed only pure-play over 55s rental community operator.
However, it is now Eureka Group Holdings’ largest shareholder with a 36% stake, valued around $58 million.
“Aspen will seek to obtain representation on Eureka‘s Board to help improve performance and returns for shareholders. Aspen’s view on the initial steps is through Board renewal and recruitment of a high-quality CEO,” the Sydney-based company told the ASX.
Eureka’s past CEO Cameron Taylor resigned in July 2023. Executive Chairman Murray Boyte has been acting CEO subsequently.
24 hours after Aspen's statement, Eureka said it is “committed to pursuing a growth strategy for Eureka in the best interests of all shareholders, including acquisitions, organic growth opportunities, greenfield and infill development, as well as asset recycling.”
"The Eureka Board is prioritising the appointment of a new CEO and will update shareholders in due course.”
In an Earnings Upgrade to the ASX, Aspen said its residential and lifestyle portfolios are “essentially full”.
“Rents are growing strongly yet remain affordable and competitive at an average of about $365 a week for residential dwellings and $190 per week for lifestyle land sites,” said Aspen Group Joint CEOs John Carter and David Dixon (main picture).
Browse villages.com.au for the latest on Seniors Living including availability.
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