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Montreal and Toronto, September 10, 2007 –
Transcontinental Inc. and PLM Group Ltd. today announced the
mailing to shareholders of PLM of Transcontinental’s
offer and takeover bid circular and PLM’s directors’
circular, each dated September 10, 2007, and related documents
in connection with the previously announced offer by Transcontinental
to purchase all of the issued and outstanding common shares
of PLM at a price per share of C$3.50.
Pursuant to a lock-up agreement dated August
21, 2007, Barry N. Pike, founder and Chairman of the Board
and Chief Executive Officer of PLM, and Pike Holdings Inc.,
a holding company controlled by Mr. Pike, have agreed to tender
their shares representing approximately 51.2% of the shares
outstanding. The offer will be open for acceptance until 5:00
p.m. (Eastern Time) on October 16, 2007, unless the offer
is extended or withdrawn by Transcontinental.
The board of directors of PLM has received
an opinion from Scotia Capital Inc., financial advisor to
the board of directors and the Special Committee of the Board
of PLM, that Transcontinental's offer is fair to PLM shareholders
(other than the locked-up shareholders) from a financial point
of view. The board of directors of PLM is recommending that
PLM shareholders (other than the locked-up shareholders) accept
Transcontinental's offer.
Details of the offer are contained in the takeover
bid circular. The offer and takeover bid circular, the directors'
circular of PLM, letters of transmittal and notices of guaranteed
delivery will be available at the Canadian Securities Administrators’
website at www.sedar.com, and may also be obtained from National
Bank Financial Inc. or the Depositary for the takeover bid,
as set forth in the documents.
About PLM
Founded in 1987, PLM Group Ltd. is one of Canada’s largest
commercial printers providing single source web and sheet-fed
print, visual, graphics and display services to leading companies
in a number of industries, including retail, consumer products,
financial services, automotive, pharmaceutical, healthcare
and communications. Its primary niche is direct marketing
products and services, which are increasingly in demand by
businesses. PLM shares have been listed on the TSX under the
ticker symbol TSX: PGL since 1997.
About Transcontinental
The largest printer in Canada and sixth-largest in North America,
Transcontinental also ranks as the country’s leading
publisher of consumer magazines and French-language educational
resources, and its second-largest community newspaper publisher.
Transcontinental distinguishes itself by creating strategic
partnerships that integrate the company into its customers’
value chain, notably through its unique newspaper printing
outsourcing model and its value-added services. From mass
to highly personalized marketing, the company offers its clients
integrated solutions which include a continent-leading direct
marketing offering, a diverse digital platform and a door-to-door
advertising material distribution network. Transcontinental
is a company whose values, including respect, innovation and
integrity, are central to its operation. Transcontinental
(TSX: TCL.A, TCL.B) has more than 14,500 employees in Canada,
the United States and Mexico, and reported revenues of C$2.3 billion
in 2006.
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For information:
Media
Nessa Prendergast
Director, Media Relations
Transcontinental Inc.
Telephone: (514) 954 2809
nessa.prendergast@transcontinental.ca
David J. Stuart
President and C.O.O.
PLM Group Ltd.
Telephone: (416) 848-8520
www.plmgroup.com
Financial Community
Jennifer F. McCaughey
Director, Investor Relations
Transcontinental Inc.
Telephone: (514) 954 2821
jennifer.mccaughey@transcontinental.ca
Peter A. Bradley, C.A.
Executive Vice President and Chief Financial Officer
PLM Group Ltd.
Telephone: (416) 848-8530
pbradley@plmgroup.com
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