Sharechat Logo

Abano Healthcare Group Limited (NZX: ABA) Scheme Receives Final Court Approval

Wednesday 9th December 2020

Text too small?

Abano Healthcare Group Limited, advises that it has received final orders from the High Court approving the Scheme of Arrangement with Adams NZ Bidco Limited. Abano has also requested that NZX suspend trading in its shares ahead of the record date for the Scheme and de-list the company from the closing of trading on the implementation date.

Subject to remaining customary completion conditions being satisfied or waived, the Scheme timetable is:

• 14 December 2020, close of trading: Last day of trading in Abano shares on the NZX

• 5.00pm on 16 December 2020: Record date for determining entitlements to participate in the Scheme

• 8.00am on 22 December 2020: Cut-off time for an Adjustment Event to occur

• 9.00am on 22 December 2020: Last time an Adjustment Event can be notified by Bidco to Abano

• 22 December 2020: Implementation date – Bidco acquires all of the shares in Abano and pays for those shares

• 22 December 2020, close of trading: Cessation of quotation of Abano shares and de-listing of Abano from NZX

Holders of Abano shares at 5.00 pm (NZ time) on the record date will be entitled to receive the Scheme consideration in cash, which will be paid on the implementation date (expected to occur on 22 December 2020). The Scheme consideration is NZ$5.20 per share, unless an Adjustment Event occurs prior to 8.00am on the implementation date (in which case the Scheme consideration will be reduced, as described in the Scheme Booklet). There has been no Adjustment Event to date.

Existing Abano shareholders who wish to participate in the Scheme do not need to take any further action. Abano shareholders who do not wish to participate in the Scheme must sell their shares before the close of trading on 14 December 2020.

See the links below for more details:

REL - Abano Scheme Receives Final Court Approval

Final Court Orders

Source: Abano Healthcare Group Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report