お知らせ • Jan 09
Geo Announces Intention to Delist from NZX Main Board Geo Limited announced its intention, subject to shareholder approval, to delist from the NZX Main Board. This proposed change forms part of an ongoing cost reduction program with the goal to achieve EBITDA profitability and cashflow breakeven within 2H FY24. The primary rationale for delisting includes: 1. Infrequent trading and low liquidity: While the Company has a wide shareholder base, the trading of shares is infrequent and occurs at very low volumes (i.e., the Company's shares have very low liquidity). As such being listed on the NZX Main Board provides little benefit to shareholders from a liquidity perspective. 2. High ongoing compliance and governance costs: Maintaining the Company's listing on the NZX Main Board incurs substantial ongoing compliance and governance costs. These costs have increased over time, including, particularly, as corporate governance requirements and reporting have become more involved. In addition, the Company has incurred significant cost in recent years to undertake capital raisings and other transactions in compliance with the NZX Listing Rules. As announced on 29th August 2023, and subsequently 9th November 2023, the Company announced a cost reduction program of which compliance and governance costs forms a substantial part. Given the Company continues to operate at a loss, delisting from the NZX will reduce ongoing costs, including significant compliance and governance costs and help the Company reach a breakeven position, lessening its reliance on further capital raisings. 3. More time to focus on core business activities: Delisting will enable management to devote more time to core business activities, as management will no longer be required to allocate significant resources to compliance activities associated with maintaining a listing on the NZX. 4. Strategic review and interest from potential buyers: As part of the already announced strategic review GEO is actively seeking interest from potential buyers. The Board is of the view that an unlisted company may widen the pool of potential buyers and help create additional shareholder value. Accordingly, the GEO Board considers that delisting from the NZX Main Board is in the best interest of GEO shareholders. The Company intends to obtain shareholder approval by way of ordinary resolution of Non-Affiliated Shareholders (essentially, shareholders with a holding less than 10%) at a General Meeting online on 23 January 2024 at 1pm NZT. Indicative timetable: Trading halt commences on shares at close of business: 8 February 2024; Shares delisted from the NZX Main Board: 12 February 2024. お知らせ • Oct 17
Geo Limited, Annual General Meeting, Nov 14, 2023 Geo Limited, Annual General Meeting, Nov 14, 2023, at 13:00 NZST - New Zealand Standard. Reported Earnings • Aug 30
Full year 2023 earnings released: NZ$0.032 loss per share (vs NZ$0.021 loss in FY 2022) Full year 2023 results: NZ$0.032 loss per share (further deteriorated from NZ$0.021 loss in FY 2022). Revenue: NZ$3.50m (up 13% from FY 2022). Net loss: NZ$6.12m (loss widened 93% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 06
First half 2023 earnings released: NZ$0.019 loss per share (vs NZ$0.012 loss in 1H 2022) First half 2023 results: NZ$0.019 loss per share (further deteriorated from NZ$0.012 loss in 1H 2022). Revenue: NZ$1.63m (up 5.7% from 1H 2022). Net loss: NZ$3.38m (loss widened 119% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. お知らせ • Nov 07
Geo Limited, Annual General Meeting, Nov 22, 2022 Geo Limited, Annual General Meeting, Nov 22, 2022, at 11:00 NZST - New Zealand Standard. Agenda: To consider and, if thought fit, to pass the following ordinary resolutions; to consider election of Shailesh Manga; to consider election of Ana Wight; to consider Re-appointment of Auditor and Auditor's Fees; and to consider any other matters that may lawfully be considered at the Annual Meeting. Reported Earnings • Aug 23
Full year 2022 earnings released: NZ$0.021 loss per share (vs NZ$0.02 loss in FY 2021) Full year 2022 results: NZ$0.021 loss per share (down from NZ$0.02 loss in FY 2021). Revenue: NZ$3.51m (up 14% from FY 2021). Net loss: NZ$3.18m (loss widened 60% from FY 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. お知らせ • Aug 23
Geo Limited to Report Fiscal Year 2022 Final Results between Sep 19, 2022 and Sep 23, 2022 Geo Limited announced that they will report fiscal year 2022 final results on between Sep 19, 2022 and Sep 23, 2022 Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Director Sal Manga was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 05
Full year 2021 earnings released: NZ$0.02 loss per share (vs NZ$0.025 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: NZ$3.07m (down 23% from FY 2020). Net loss: NZ$1.98m (loss narrowed 3.5% from FY 2020). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Full year 2021 earnings released: NZ$0.02 loss per share (vs NZ$0.025 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: NZ$3.70m (down 7.8% from FY 2020). Net loss: NZ$1.98m (loss narrowed 3.5% from FY 2020). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings.