Acquisition of shares under buyback offer

Company Announcement

Abano Healthcare Group Limited (the Company) gives notice under Rule 7.12.1 of the NZX Listing Rules that it has acquired a total of 4,525,572 shares in the Company at $2.20 per share.

The shares:

  • Are ordinary shares(ISIN NZNPEE0001S8);
  • Have been acquired through an offer by the Company to each shareholder, implemented to return capital of the Company;
  • Were acquired for cash;
  • Represent 16.7% percent of the total number of ordinary shares at the beginning of today;
  • Are not to be held as Treasury Stock; and
  • Were acquired under the specific authority of a resolution of the board of directors of the Company, passed on 22 July 2005.

The shares were acquired through three separate offers by the Company to all shareholders:

  • 2,559,328 shares were acquired through the off market, pro-rata, voluntary 1:6 share buyback offered by the Company, which closed on 26 August 2005.
  • 1,958,205 shares were acquired as additional shares offered to the Company under the buyback offer, which the Company accepted on a rateable scale of 38.86% to ensure the aggregate of shares acquired under the buyback offer did not exceed 4,517,572 shares.
  • 8,039 shares were acquired, separately to the buyback offer, through a voluntary offer to shareholders to purchase unmarketable parcels of 200 shares or less, at a price of $2.20 per share.

The total number of issued ordinary shares following the acquisition of shares by the Company is 22,579,868.

Name: Richard Keys
Position: Chief Financial Officer
Date: 30 August 2005