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- Release Date: 12/09/13 11:09
- Summary: S/HOLDER: ABA: Abano Announces Mailing of Share Purchase Plan
- Price Sensitive: No
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ABA
12/09/2013 09:09
S/HOLDER
REL: 0909 HRS Abano Healthcare Group Limited
S/HOLDER: ABA: Abano Announces Mailing of Share Purchase Plan
Abano Healthcare Group Limited (NZX:ABA) has today mailed Share Purchase Plan
documents to eligible shareholders.
The Share Purchase Plan (SPP) is the second stage of the equity capital
raising programme announced to the market on 28 August 2013, and follows the
successful placement of $9.25 million of new shares at $5.95 per share to
institutions and other eligible investors.
Chairman of Abano, Mr Trevor Janes, said: "Overall, the capital raising has
been structured so as to provide for substantially pro rata participation by
all existing shareholders. The share placement was oversubscribed and we are
now pleased to be offering this Share Purchase Plan to our shareholders.
"The funds raised will be utilised to continue our investment into dental,
where we see significant opportunities in both Australia and New Zealand, and
our other businesses. It will provide Abano with the flexibility to fund
other opportunities as they arise."
The SPP is intended to raise up to a further $9.25 million of new equity
capital, and eligible shareholders will be invited to subscribe for up to
$15,000 of new ordinary shares each, with a minimum subscription of $500 (and
multiples of $500 above that level).
The subscription price will be the lower of the placement price of $5.95 per
share and the average end of day market price of Abano shares on the NZX Main
Board market over the final five business days of the offer period.
Underwriting and scaling
The Board has resolved to partially underwrite the SPP, which has been
underwritten by Forsyth Barr Group Limited to the extent of $5.75 million.
The underwritten amount is not a cap. Abano will accept subscriptions of up
to a total $9.25 million under the SPP. Above that, subscriptions will be
scaled on a proportionate basis relative to the number of shares held by a
subscriber on the record date, which was the 10th of September 2013.
Key dates
The SPP offer opens on 13 September 2013. Completed application forms and
payment must be received by the share registrar, Computershare Investor
Services Limited, by 5.00pm on 1 October 2013 (unless the closing date is
extended in accordance with the Listing Rules).
ENDS
End CA:00241024 For:ABA Type:S/HOLDER Time:2013-09-12 09:09:42
