15 July 2016

Archer Capital (Pty) Limited (Archer) and Healthcare Industry Limited (HIL)

FMA initiated civil proceedings against Archer Capital (Pty) Limited and Healthcare Industry Limited (HIL) for alleged breaches of the substantial shareholder disclosure obligations contained in the Securities Markets Act 1988, in relation to shares in Abano Healthcare Group Limited (Abano).

This action reflects our view that timely and accurate disclosure is central to the promotion of well–informed and transparent financial markets.

15 July 2016

The FMA discontinued this case. We consider that the claim was justified, but it is no longer in the public interest to progress the matter to trial. Related media release: FMA discontinues proceedings against Archer and HIL.

26 March 2015

A Case Management Conference took place in the High Court at Auckland and timetabling orders were made. A 3-week hearing scheduled to commence on 1 August 2016.

10 December 2014

FMA filed replies to the HIL and Archer statements of defence.

28 November 2014

HIL and Archer each filed statements of defence.

3 October 2014

The FMA has filed and served civil proceedings against Archer and HIL. Related media release: FMA files civil proceedings against Archer Capital and Healthcare Industry.