On expiry of its takeover offer at 5pm on 14 March 2008, Crescent Capital Partners had received valid acceptances in respect of 18.3% of shares in Abano on issue, sufficient to take its holding to 38.0%.
Accordingly, the Crescent takeover offer for Abano has failed and now lapsed.
Crescent Capital Partners shareholding now reverts to 19.7%, and all shareholders who placed shares into the offer retain ownership of their shares.
The Abano Board has today declared a fully imputed dividend of 13 cents per share. The record date for the dividend is 2 April 2008 and payment is expected to be made on 9 April 2008.