21 May 2014

Abano shareholders sent advisory letter

1:59 pm on 21 May 2014

Abano Healthcare has sent a letter to shareholders warning them that former director and disaffected shareholder, Peter Hutson, and another shareholder, James Reeves, are conducting a misleading communications campaign.

The company says Mr Hutson and Mr Reeves are also conducting a personal attack on members of Abano's board, including chairman Trevor Janes.

Mr Hutson and Mr Reeves, who own 18.5 percent of Abano between them, have requisitioned a special meeting to vote on removing Mr Janes.

Abano says the meeting will be held soon and its board remains unanimous in supporting Mr Janes.

Managing director Alan Clarke said net profit for the year ending May should be 60 percent higher than the previous year.