News

Acquisition of shares under buyback offer

Company Announcement
ACQUISITION OF SHARES UNDER BUYBACK OFFER

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

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