ABA
07/05/2015 10:45
GENERAL
NOT PRICE SENSITIVE
REL: 1045 HRS Abano Healthcare Group Limited
GENERAL: ABA: Renewal of Directors' Share Plan
The Board of Abano Healthcare Group (ABA:NZX) has approved the renewal of the
existing Directors' Share Plan (the Plan) for a further three years.
Under this Plan, 50% of the annual after tax fees for non-executive directors
are paid in shares, which are acquired on the market on a quarterly basis.
Chairman of Abano, Mr Trevor Janes, said: "The Plan was put in place in 2012
as the Board believes that directors should own an appropriate number of
shares in the Company, which further aligns directors' interests with those
of other shareholders.
"This policy is in line with NZX Corporate Governance Best Practice Code,
whereby directors are encouraged to invest a portion of their cash directors'
remuneration in purchasing the Issuer's shares."
The ability for public company directors to purchase shares on market is
constrained by Insider Trading regulations. Therefore, the Plan provides
Abano's directors with access to Abano shares, with purchases made on-market
by Craigs Investment Partners according to a predetermined, fixed timetable.
Fifty percent of participating directors acquire shares in one quarter and
the other 50% of directors acquire shares in the next quarter, to avoid large
numbers of shares being acquired all at once.
ENDS
End CA:00264037 For:ABA Type:GENERAL Time:2015-05-07 10:45:10
