Sharechat Logo

ASX-listed PMP in trading halt on pending statement on TMA takeover bid

Thursday 5th July 2012

Text too small?

Shares of ASX-listed printer PMP were halted ahead of a statement relating to the "highly conditional" takeover offer made by TMA Group.

The printing company expects to release a statement before midday in Australia "in relation to the previously announced indicative offer" that was as much as three times the share price when made, PMP said in a statement to the ASX. The shares dropped 5.7 percent to 33 Australian cents in trading yesterday, valuing the company at A$106.9 million.

Sydney-based ticketing, parking equipment and packaging services firm TMA emerged as a potential buyer in May, having made an offer of between 68 cents and 78 cents when the stock was hovering near a record-low 25 cents in April.

PMP's share price has almost halved in the past 12 months as the printing company downgraded profit forecasts and unveiled plans to slash costs.

The company also operates in New Zealand, printing magazines and advertising materials for companies such as Fairfax Media, New World supermarkets and Sky Network Television and distributing magazines through its Gordon & Gotch subsidiary.

BusinessDesk.co.nz

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar sags after avalanche of data and central bank action
Fonterra board starts planning chair succession
Fulton Hogan keeps Australian civil construction unit
Time for congestion pricing has come - NZIER
Colliers defends KiwiBuild as 'far from a colossal failure'
Pushpay shares rise as cost-cutting upgrades earnings guidance
20th September 2019 Morning Report
NZ dollar weaker against British pound on EC president's Brexit optimism
Todd plans Kapuni drilling campaign
MARKET CLOSE: NZ shares gain; appetite for KFC helps Restaurant Brands hit record

IRG See IRG research reports