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


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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Auckland Port To Recapture Gas: Union Calls On Ports To Stop Spewing Methyl Bromide

The Maritime Union of New Zealand welcomes the decision by Ports of Auckland to stop releasing methyl bromide emissions into the air. The move to fully recapture the toxic gas after fumigation sets a new benchmark for industry best practice. More>>


Retail: Banks Shoes Calls In Receiver

Banks Group, which runs 14 stores across the country under the brands including Banks Shoes and Shoe Connection, has been tipped into receivership at the request of director John Bank. More>>


NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>



Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>


Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...