Directors warn of rebels' documents

RICHARD MEADOWS
Last updated 05:00 04/06/2014

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Abano Healthcare's directors have warned investors of a proxy voting form sent out by rebel shareholders Peter Hutson and James Reeves.

The pair, who together own 18.5 per cent of Abano, have called a special meeting to try and oust chairman Trevor Janes from the board.

Last week they filed High Court proceedings to try and delay the meeting, scheduled for next Friday.

They believe Abano has deliberately set the meeting too early for them to get in touch with retail investors and air their concerns.

Yesterday the NZX-listed company warned that a proxy form sent out by Hutson and Reeves last Friday was not the "official" paperwork.

"To avoid confusion, we would like to clarify that you only need to complete the official Abano proxy form," the letter read.

"The other form and letter, signed by Peter Hutson and James Reeves, continues to include many misleading and incorrect statements."

The directors said they found it "extraordinary" that the pair continued to assert as fact things that Abano and others had disproved.

"The directors also reiterated their unanimous support for Janes.

Abano owns the Lumino chain in New Zealand and Dental Partners in Australia.

Hutson and Reeves were involved in a failed takeover of Abano last year by private equity firm Archer Capital. They then argued Abano's management of the dental business was not delivering value.

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