Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Abano dissidents seek delay to special meeting

Abano dissidents seek delay to special meeting

By Paul McBeth

May. 30 (BusinessDesk) - Abano Healthcare's dissident shareholders Peter Hutson and James Reeves have filed papers in the High Court in Auckland in a bid to delay the special meeting they called, where they're seeking to dump the medical investor's chairman, Trevor Janes.

The Abano shareholders, whose interests own about 19 percent of the company, want to delay the June 13 meeting by three to four weeks, saying the timeframe was "inadequate" and "impracticable" to call and conduct the meeting, according to papers filed in the High Court. Hutson and Reeves have called the vote on dumping Janes, an established professional director.

In a supporting affidavit, Reeves said the 13 working days given to shareholders wasn't enough time because the "important and controversial nature of the business to be conducted at the meeting, the biased and misleading content of the notice, the complexity of the underlying issues and the volume of biased and misleading information which the Abano board has recently made available to shareholders."

Reeves said the short timeframe will be most acute for retail shareholders who own about 50 percent of Abano.

The company issued the notice of meeting last Friday, with the board recommending shareholders oppose the vote to dump the chairman. Janes abstained from endorsing the directors' recommendation.

Shares in Abano slipped 0.3 percent to $6.75 today, and have gained 6.3 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news