Abano Healthcare Group Limited
Transaction Type: Company meeting (Acquisition)
Acquirer: Peter Hutson, Anya Hutson, and Scott Wright
Independent Adviser(s): KordaMentha (Rule 18)
Date of meeting: 8/10/2009
Exemption: Abano Healthcare Group Limited – Exemption Notice 2009
On 28 August 2009 Abano Healthcare Group Limited (Abano) together with Mr Peter Hutson, Mrs Anya Hutson, and Mr Scott Wright (the Hutson Interests) announced their intention to sell 100% of the shares in Bay Audiology Limited (Bay).
As part of the security for any advance made under a loan agreement between the purchaser and the vendors, a nominee company of the Huston Interests would acquire shares in Abano.
At the time of publishing the notice of meeting, Abano and the Hutson Interests would be uncertain as to how many shares in Abano the nominee company would acquire, and what potential increase in voting control may occur as a result of the loan agreement and the security arrangements. The Panel granted an exemption for Abano from rule 15(b) of the Code, to the extent that the notice of meeting did not comply with the Code.
At the shareholder meeting on 8 October 2009, Abano shareholders approved the resolution for the sale of Bay.
KordaMentha were approved to provide an independent adviser’s report under rule 18 of the Code.