News Video | Policy | GPs | Hospitals | Medical | Mental Health | Welfare | Search


Settlement of National Hearing Care Sale

Settlement of National Hearing Care Sale

Abano Healthcare Group has today confirmed settlement of the sale of its investment in NHC Group Pty Limited for approximately NZ$28 million.

This means that, subject to High Court approval, the capital return of $27.3 million to shareholders by way of a compulsory, pro rata 1 in 4 cancellation of shares, as approved by shareholders at the annual meeting on 30 November 2010, will proceed.

High Court approval has been sought, and Abano anticipates an outcome by late December 2010, with a view to the share cancellation and payment to shareholders taking place by the end of January 2011.

Chair of Abano, Alison Paterson, commented: “The cash receipts from the sale of our investment in NHC Group are effectively the same as the amount proposed to be returned to shareholders.

“The share cancellation represents a tax effective return of capital to shareholders, and is an efficient use of Abano’s balance sheet. It will also reduce the number of shares on issue and therefore improve earnings per share going forward.”


© Scoop Media

Culture Headlines | Health Headlines | Education Headlines


Howard Davis: Emerald Fennell's Promising Young Woman'

The Guardian needed not one, but three reviews to do justice to Fennell's unsettling approach, which indicates exactly how ambiguous and controversial its message really is. More>>

Howard Davis: Jill Trevelyan's Rita Angus

Although Angus has become one of Aotearoa’s best-loved painters, the story of her life remained little known and poorly understood before Jill Trevelyan's acclaimed and revelatory biography, which won the Non Fiction Award at the Montana New Zealand Book Awards in 2009, and has now been republished by Te Papa press. More>>

Howard Davis: The Back of the Painting

Painting conservators are the forensic pathologists of the art world. While they cannot bring their subjects back to life, they do provide fascinating insights into the precise circumstances of a painting's creation, its material authenticity, and constructive methodology. More>>

Howard Davis: Black Panthers on the Prowl

A passionate and gripping political drama from Shaka King, this is an informative and instructive tale of human frailty that centers around the charismatic Chicago Black Panther leader Fred Hampton, who was murdered at the age of twenty-one during a police raid. More>>

Howard Davis: Controlling the High Ground

Stephen Johnson's raw and angry film not only poses important questions with scrupulous authenticity, but also provides a timely reminder of the genocidal consequences of casual bigotry and xenophobia. More>>

Howard Davis: Dryzabone - Robert Conolly's The Dry

After the terrible devastation caused by last year’s bushfires, which prompted hundreds of Australians to shelter in the ocean to escape incineration and destroyed uncountable amounts of wildlife, The Dry has been released during a totally different kind of dry spell. More>>

Howard Davis: Hit the Road, Jack - Chloé Zhao's Nomadland

Nomadland is perhaps the ultimately 'road' movie as it follows a group of dispossessed and disenfranchised vagabonds who find a form of communal refuge in camp sites and trailer parks after the economic contraction of 2008. More>>



  • Wellington
  • Christchurch
  • Auckland