Heartland Group Holdings Limited (NZX: HGH) 2020 Annual Shareholder Meeting

Monday 30th November 2020

The Annual Shareholder Meeting of Heartland Group Holdings Limited (NZX/ASX: HGH) (Heartland) will be held today online at www.virtualmeeting.co.nz/hgh20 and in person at Eden Park, Reimers Avenue, Kingsland, Auckland, commencing at 2pm (New Zealand time).

Chair’s Address

The Group remains capable of declaring an interim dividend at half year in line with previous ‘usual’ dividends, should performance and conditions be supportive. Once the RBNZ restrictions are removed, subject to the usual prudential considerations, a return to historical pay-out ratios is expected.

The Board is confident in Heartland’s ability to continue achieving strong growth and profitability, while continuing to support our customers through any future COVID-19 related uncertainties. Heartland expects its NPAT for the year ending 30 June 2021 to be in the range of $83 million to $85 million.

Group Chief Executive Officer’s Report

As at the end of October, which is the first four months of FY21, NPAT is tracking at $29.9 million (versus full year guidance of $83 million - $85 million).

More recently, Harmoney successfully concluded an Initial Public Offering (IPO) in Australia. The listing and subsequent trading prices are at a material premium to the book value of our holding. Heartland will re-assess the fair value of its equity investment in Harmoney as part of the preparation of its financial results for the half year. If so, this may impact on guidance range.

See the links below for more details:

2020 Annual Shareholder Meeting Announcement

ASM Presentation - 2020

Chair's speech - ASM 2020

Chief Executive's speech - ASM 2020

Group Chief of Staff's speech - ASM 2020

Virtual Annual Meeting Online Guide - ASM 2020

Source: Heartland Group Holdings Limited

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