PUNCH GRAPHIX (PGX) - DIGITAL PRINTING GROUP

Have I been asleep at the back of the class and missed something? A mandatory offer?

Punch International Acquires 5,000 Punch Graphix Shares
181 words
22 December 2006
13:38
Dow Jones International News
English
(c) 2006 Dow Jones & Company, Inc.

Edited Press Release

LONDON (Dow Jones)--Punch International announced Friday that it has acquired 5,000 Punch Graphix Shares, representing 0.005% of Punch Graphix's issued share capital, at 127.75 pence per share, bringing Punch International's total interest in Punch Graphix to 50,391,316 Punch Graphix Shares, representing approximately 49.0%. of Punch Graphix's issued share capital.

The company said that full acceptance of the Mandatory Offer by Punch Graphix Shareholders will result in a maximum cash consideration payable by Punch International of GBP67.1million.

The cash consideration payable to Punch Graphix Shareholders pursuant to the Mandatory Offer will be financed through a mixture of existing cash resources and available credit facilities.

The company said that KBC Peel Hunt has confirmed that the necessary financial resources are available to Punch International to satisfy full acceptance of the Mandatory Offer.

Punch International intends that following the Mandatory Offer the existing employment rights, including existing pension rights, of all Punch Graphix employees will be fully safeguarded. [ 22-12-06 1338GMT ]