Menu
Orion Health bids adieu to NZX and ASX on 28 March

Orion Health bids adieu to NZX and ASX on 28 March

Shares can still be traded until the close of markets on 25 March

Ian McCrae (Orion Health)

Ian McCrae (Orion Health)

Credit: Supplied

Orion Health intends to de-list from the NZX and ASX after close of market trading on Thursday, 28 March.

The move follows a notice of compulsory acquisition of remaining shares by Grafton Health Holdings, which is taking over the company.

Orion Health listed on the NZX in November 2014 at $5.70, but traded into financial trouble as it poured money into the development of a cloud-based version of its integration engine and population health technology.

Grafton, which is acquiring the remaining shares at $1.224, is a vehicle controlled by Ian McCrae, chief executive and founder of Orion Health.

In anticipation of de-listing, trading in Orion Health's shares will be suspended on the NZX and ASX after close of trading on Monday, 25 March.

On Thursday, 21 February, Grafton gave notice to Orion Health that it had become the dominant owner of Orion Health for the purposes of the Takeovers Code.

Meanwhile on Monday, 18 March, Grafton gave notice to NZX, ASX and all outstanding shareholders that it was exercising its compulsory acquisition rights under Part 7 of the Takeovers Code.

Under these provisions Grafton is permitted to acquire all the outstanding shares in Orion Health that it does not yet hold.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags ASXOrion HealthNZX

Events

Featured

Slideshows

Channel kicks 2021 into gear as After Hours returns to Auckland

Channel kicks 2021 into gear as After Hours returns to Auckland

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Pantry at Park Hyatt in Auckland to kick-start 2021.

Channel kicks 2021 into gear as After Hours returns to Auckland
The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Show Comments