‘Don’t Sell’ Advice following Masthead extension
Abano Healthcare Group Limited (NZX: ABA) advises that this morning it received a variation notice from Masthead Portfolios Limited to extend the closing date of its partial takeover offer.
Abano Healthcare Group directors again reiterated their “Don’t Sell” advice and will be communicating with shareholders in regards to this notice.
Chairman, Alison Paterson said today: “We repeat our earlier advice to shareholders which is to not sell their shares and to reject the offer.
“We remind shareholders that this is a partial offer, and that there is no certainty that shareholders will be able to sell all of their shares. This may result in shareholders only being able to sell 38.85% of their shares and be left with the balance of their shares, at potentially a much lower share price given control of Abano will have passed to Masthead.”
The Board also note that if shareholders accept the Masthead offer they cannot withdraw that acceptance to consider other offers, should they emerge.