Healthcare Partners Ready And Waiting to Pay Abano

Healthcare Partners Ready And Waiting to Pay Abano

New Zealand, 20 April 2017: Healthcare Partners Ltd is committed to paying the appropriate share of costs incurred by Abano in its response to Healthcare’s bid for a 50.01% shareholding in the company.

Peter Huston, on behalf of Healthcare Partners, said today that “since the end of the offer process, we have been trying to obtain from Abano a break-down of their costs in the legally appropriate format.

“The truth is that, contrary to what Abano is claiming, it has declined to provide detailed cost information in the appropriate form and detail. It is a reasonable request to be given the detail that we are entitled to so that Healthcare Partners can be satisfied with the costs we are responsible for reimbursing Abano for.

“Last week, we again wrote requesting the information, and indicated that if Abano did not comply, Healthcare Partners would take legal action against its unprecedented action of unilaterally withholding the interim dividend payment part-way through the offer process. They have never provided Healthcare Partners with the detailed information on the make-up of their cost claims.

“Abano’s action is an attempt to slur Healthcare Partners and to avoid dealing with us directly. Given that Abano has refused to work cooperatively with us, the Court is now the best forum to resolve the issue of costs. We are ready and want to pay the appropriate amount. We have been trying to get clarification from Abano but to no avail.

“The feedback and research on our Offer indicated that a full takeover at the price offered would have been preferable to the partial offer. We know that shareholders want to see Abano perform better than it has been doing. We know shareholders were comfortable with the price we offered which was within the Grant Samuel independent price range but they wanted to see us in full control, not partial,” concluded Peter Hutson.

ENDS

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