Abano Healthcare consolidates

Abano Healthcare is making a one-for-10 share consolidation, with a record and effective date of December 14.

The number of shares on issue will be cut from 260 million to about 26 million, after the second placement of shares to Rotorua Energy Charitable Trust Management.

Abano chairman Jim Syme said the share consolidation would allow more meaningful analysis of the company, particularly financial performance on a per-share basis. Shareholders were told of the consolidation at the annual meeting yesterday.