Update on Capital Structure Process
Abano Healthcare Group Limited (NZX: ABA) advises that following the receipt of updated proposals from interested parties over the weekend, it does not currently intend to progress a sale of Abano by way of a Scheme of Arrangement option or a “take private” transaction.
The Abano Board continues to evaluate alternative options received to address the capital structure needs and support the future growth of the company. In evaluating the options, the Board’s criteria includes consideration of Abano’s underlying value and sufficient certainty of completion.
Abano is one of the largest dental groups in Australasia, and the investments made into systems and people provide a strong platform for recovery and future growth. Initial performance since reopening the networks has been ahead of expectations. While the Board is cognisant of the near term impact of Covid-19 and the uncertainty over the coming months, it expects the business to make a full recovery over time.
The Company will keep shareholders informed as matters progress.