The Board of Abano Healthcare Group Limited (NZX: ABA) has advised
shareholders to reject the revised partial takeover offer price from
Healthcare Partners Holdings Limited, which was yesterday increased by 16
cents per share (an increase of 1.6%).
The Board still considers that the risks of the partial nature of the offer
continue to substantially outweigh the revised offer price, given that
shareholders are likely to be left as minority shareholders in a company
controlled by Healthcare Partners, which has its own agenda with an unclear
and unspecified strategy.
Chairman of Abano, Mr Trevor Janes, said: "Our advice to shareholders is to
reject the revised offer. To do this, shareholders should simply ignore the
offer documents from Healthcare Partners and do nothing.
"The Board is not soliciting bids for Abano and therefore unanimously rejects
the suggestion from Peter Hutson, Anya Hutson and James Reeves that Abano
should open up the company to allow due diligence by Healthcare Partners and
other unspecified and as yet unidentified ''interested parties'' to ''explore
the possibility of making a 100% offer''."
Abano''s Board and management continue to be focused on the business, growing
shareholder value and delivering full year results in line with the FY17
financial forecasts detailed in the Grant Samuel Independent Adviser''s
report.
ENDS
End CA:00296883 For:ABA Type:TAKEOVER Time:2017-02-17 08:30:08