Abano Director resigns over conflict of interest

Abano Healthcare Group Limited (NZX:ABA.NZ - News) confirms that following a unanimous request from the non-conflicted directors of Abano (those not associated with Archer Capital), Mr Peter Hutson has today tendered his resignation as a director of Abano, effective immediately.

Mr Hutson’s associated interests hold approximately 15% of the shares in Abano and 50% of the shares in Bay International Limited, the company which operates Abano’s audiology business.

Mr Hutson remains a director and an employee of Bay International, although the non-conflicted directors of that company have raised with Mr Hutson a requirement for various operational protocols to be put in place in respect of his continued position with that company, to address the ongoing conflict of interest.