Shareholder Letter: Take No Action
Abano Healthcare Group has today sent a letter to its shareholders in regards to the notice of intention to make an unsolicited partial takeover offer from Healthcare Partners Holdings Limited.
This is a company associated with Peter and Anya Hutson and James Reeves, who have all been involved in previous attempts to gain control of Abano and to force changes to Abano’s Board. These prior attempts were unsuccessful and disruptive to Abano, and have cost Abano and its shareholders in excess of $1 million, not including management time.
The Abano Board also notes that, despite a formal request to Healthcare Partners, they have refused to allow Abano to declare its normal interim dividend and Dividend Reinvestment Plan in December 2016, which would have been paid in January 2017.
The Abano Board is advising shareholders to take no action in respect of the offer and wait for the Abano Target Company Statement, which will include the Abano Board’s recommendation in respect of the offer and the Independent Adviser’s Report. There is no benefit to shareholders in accepting early.
A full copy of the Shareholder Letter is attached to this announcement.