Abano alerts market to approach by Bernard Whimp

Abano Healthcare Group wishes to advise its shareholders and the market that a request to provide a copy of Abano’s share register has been made by, or on behalf of, Bernard Whimp, the individual who has been previously linked with making unsolicited, “low ball” offers to buy securities for well below their market value.

Chair of Abano, Alison Paterson, has strongly cautioned shareholders against accepting any unsolicited share offer without first seeking professional financial or legal advice.

“We understand we are one of several companies to have been approached by Whimp. These requests may be a preliminary step by him or associated interests to making a low ball offer to Abano shareholders and we have therefore informed the Securities Commission.

“We have not yet provided a copy of the Abano share register and are seeking legal advice on our options, so as to ensure the protection of our shareholders. However, Abano will comply with its obligations under the Securities Act to the extent required.

“Entities associated with Whimp have recently made a number of low ball, unsolicited offers for shares and the offer documents often look like official company documents with no discernible connection to Whimp.

“Abano warns shareholders to treat with caution any unsolicited offers they may receive and wishes to assure shareholders that the board would always communicate directly with them in respect of any offers brought to the attention of the board.”

Mr Whimp was banned from being a company director for five years in September 2007.

Shareholders who have any concerns in regards to unsolicited offers they receive are encouraged to contact Abano’s share registrar, Computershare

Guidance for investors on unsolicited offers was issued by the Securities Commission in August 2010 and can be viewed at http://www.seccom.govt.nz/invest/articles/270810.shtml.

ENDS

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