PUNCH GRAPHIX (PGX) - DIGITAL PRINTING GROUP

Unfortunately, PI already own 49% of PG so this is a rather sly timed move in order to get the rest on the cheap, IMHO. FWIW I think the institutions should be saying the following based on what PI said...



'The Board of Punch International intends to improve the performance of Punch
Graphix by reducing unnecessary overhead costs, focusing on the geographic
regions with the highest potential and further develop the sales channels and
the product portfolio. The Board of Punch International expects synergies
between the Punch Graphix Group and the Punch International Group in areas such
as general administration, purchase, manufacturing and engineering, and targeted
complementary acquisitions.'

SO YOU CAN PAY A PREMIUM SINCE YOU ARE ABOUT TO RELEASE VALUE VIA YOUR MANAGEMENT EXPERTISE

'Unless the Board of Punch International acts now, it believes that there will be further deterioration in the performance of Punch Graphix with escalating
operational costs and further deterioration in value affecting all Punch Graphix
Shareholders'

SINCE PI OWNS 49% OF PG, AND DOESN'T WANT TO SEE IT'S SHAREHOLDING DEVALUE THAN THEY SHOULD BE WILLING TO PAY A PREMIUM TO AVOID LOSINGFUTURE MONEY.

URTHERMORE, IF THEY ARE CONVINCED THE SHAREPRICE IS GOING DOWN IF PI DOESN'T GET TO TAKEOVER THAN THEY SHOULD BE WILLING TO SELL THE STOCK TO THE INSTITUTIONS AT A DISCOUNT.