Offeror(s): Healthcare Partners Holdings Limited

Independent Adviser(s): Grant Samuel & Associates Limited

Offer Date: 06/12/2016

Closing Date: 06/03/2017

Offer Type: Partial

Healthcare Partners Holdings Limited (“Healthcare Partners”)  held or controlled 19.02% of the voting rights in Abano Healthcare Group Limited (“Abano”), a company operating in the healthcare sector in Australia and New Zealand, and listed on the NZX.

On 24 November 2016, Healthcare Partners gave notice of its intention to make a partial takeover offer for 30.99% of the fully paid ordinary voting securities on issue in Abano, in order to take its total holding of Abano voting rights to 50.01%.

On 9 December 2016, Healthcare Partners sent their partial offer for 50.01% of the voting securities in Abano (the “Offer”). Abano released a target company statement in relation to the Offer on 14 December 2016, in which Abano’s Board of Directors recommended to shareholders not to accept the Offer.

The Offer price was originally $10 per voting security, less any dividend paid out to shareholders prior to the close of the Offer period on 6 March 2017 (the “Closing Date”). However, it was later varied to $10, plus any dividend paid out to shareholders prior to the Closing Date.

At the Closing Date, Healthcare Partners had received acceptances of 2.35%, and the Offer lapsed.

We have not received consent to publish other documents in relation to this transaction on our website. However, copies of these documents are available upon request to the Panel under the Official Information Act 1982. Please send your written Official Information requests to takeovers.panel@takeovers.govt.nz

Key Documents

Target Company Statement: