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Abano confirms interim dividend as Crescent takeover offer fails

On expiry of its takeover offer at 5pm on 14 March 2008, Crescent Capital Partners had received valid acceptances in respect of 18.3% of shares in Abano on issue, sufficient to take its holding to 38.0%.

Accordingly, the Crescent takeover offer for Abano has failed and now lapsed.

Crescent Capital Partners shareholding now reverts to 19.7%, and all shareholders who placed shares into the offer retain ownership of their shares.

The Abano Board has today declared a fully imputed dividend of 13 cents per share. The record date for the dividend is 2 April 2008 and payment is expected to be made on 9 April 2008.

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