26 Oct 2011

Review outcome due in 10 days

7:18 am on 26 October 2011

Metlifecare expects to reach a decision on the outcome of a strategic review in the next 10 days.

The retirement village operator appointed Goldman Sachs to come up with options for the company's future about three weeks ago.

Chairman Greg Flood says the board wants to increase trading in the company's stock and find a way to return to dividend as soon as possible.

Metlifecare is 82%-owned by Retirement Villages New Zealand and Mr Flood says there are many investors who would not be interested in buying shares in a company with such a majority stake.

He says the company can't influence the major shareholder, but it can put the result of the review to them if it suggests a smaller stake by the majority owner.

Mr Flood says Metlifecare will also update shareholders on the company's opportunities for growth, as part of the outcome of the strategic review.

Shares in Metlifecare fell 10 cents to $2 on Tuesday.