Abano Healthcare Group Limited (NZX: ABA) is pleased to announce that its fully underwritten 1 for 5 pro rata renounceable rights offer, which closed on 23 August 2017, received strong support from Abano’s shareholders.

3,878,946 new shares, at a price of $8.15 per share, were taken up by shareholders under the offer. This represents approximately 92.00% of the new shares available to eligible shareholders under the rights offer. The new shares taken up under the rights offer are expected to be allotted on 30 August 2017.

Chairman of Abano, Mr Trevor Janes, commented: “We were pleased with the support shown by our shareholders, reflecting their confidence in our growth strategy and the value of our company. The funds raised will be used to step up our growth plans in the trans-Tasman dental market, particularly in Australia.”

Shortfall bookbuild

413,563 shares, out of a total rights issue offer size of 4,292,509 shares, were not taken up by shareholders under the rights offer and will be offered through the shortfall bookbuild, to be conducted by Forsyth Barr Group Limited.

The bookbuild opens after 5.30pm tonight and is expected to be completed on 28 August 2017.

Shareholders who did not take up their full entitlements in the rights offer will receive a share of any premium achieved (being the amount by which the shortfall bookbuild price and exceeds the application price for new shares of $8.15 per new share), for the rights which they did not take up. There is no guarantee that the shortfall bookbuild will result in a premium.

Shareholders who have any questions about the rights offer or shortfall bookbuild are encouraged to read the Offer Document which is available on Abano’s website www.abano.co.nz/2017rightsoffer and consult an NZX Primary Market Participant or their financial adviser, lawyer, accountant or other professional adviser or call Abano’s Registrar, Computershare, on +64 9 4888 777.

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