Continuing Interest in Abano
The Board of Abano Healthcare Group Limited (NZX: ABA) met over the weekend to consider two credible proposals from third parties to invest in a cornerstone shareholding in the company and support an accompanying pro rata rights offer to shareholders. Following its determination to progress one of those proposals, Abano received last evening a further revised non-binding, indicative offer to acquire all of the Abano shares by way of Scheme of Arrangement from one of the parties. The Board will consider this proposal in good faith and is taking further advice from its legal and financial advisers on the proposals received.
The Board reiterates its previous expectations that any Scheme proposal would need to satisfactorily address the Company’s underlying value and to provide sufficient certainty of execution and price to Abano shareholders.
Any person considering trading in Abano shares may wish to seek financial advice.