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Removal of Trevor Janes - Abano Special Meeting

Removal of Trevor Janes - Abano Special Meeting

Activist shareholders Peter Hutson of Healthcare Industry Limited (HIL) and James Reeves (Steamboat Capital Limited) welcome today’s announcement by Abano Healthcare Limited (Abano) that it is proceeding with convening a special meeting to vote on the Chairman, Trevor Janes.

“We see this as a demonstration of shareholder democracy at work. Abano has acquiesced and shareholders will finally be able to participate in a democratic process. We now ask that the company promptly sets a meeting date, allowing sufficient time for all shareholders to adequately consider information available regarding both the governance and performance issues of the company,” Mr Hutson said.

Based on the established convention of a two-week approval process involving the NZX, and in line with the general meeting timelines of leading companies, such as The Warehouse Group and Mighty River Power, HIL and Steamboat have proposed the Abano Special Meeting be held on or around 26 June 2014.

“We look forward to receiving confirmation of the proposed special meeting date when Abano submits the draft Notice of Meeting to NZX for review. In our view, this should take place in the next couple of days,” Mr Hutson said.

As previously indicated, HIL and Steamboat trust the full and correct career profile of Mr Janes will be contained in the Notice of Meeting.

ENDS

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