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Montreal and Toronto, October 17, 2007 – Transcontinental
Inc. and PLM Group Ltd. today announced that as at 5:00 p.m.
yesterday, holders of common shares of PLM holding in the
aggregate 26,961,023 common shares, representing approximately
97.91% of the issued and outstanding shares of PLM, had validly
tendered their shares under the Transcontinental offer dated
September 10, 2007 to purchase all of the common shares of
PLM at a price of C$3.50 per share.
All of the conditions of its offer having been satisfied,
Transcontinental has instructed the Depositary, Computershare
Investor Services Inc., to take up and pay for all of the
PLM common shares deposited under the offer. Transcontinental
intends to pay for the common shares deposited by delivering
today the C$3.50 per share consideration to the Depositary
to be forwarded to the holders of common shares of PLM deposited
under the offer. Thereafter, Transcontinental intends to avail
itself of the compulsory acquisition provisions of applicable
legislation to acquire the remaining common shares of PLM,
the whole as described in the take-over bid circular.
Upon completion of the compulsory acquisition, Transcontinental
intends to de-list the common shares of PLM from the Toronto
Stock Exchange and to cause PLM to apply to the securities
regulatory authorities to cease to be a reporting issuer.
In August, Transcontinental announced its intention to acquire
PLM Group and become the largest printer in Canada and a leader
in Canada’s direct marketing industry. Founded in 1987,
PLM has 470 employees in the Greater Toronto Area and reported
revenues of $126 million in 2006. Its primary niche is direct
marketing products and services, which are increasingly in
demand by businesses. PLM also offers leading edge services
such as premedia and digital printing and prints a wide range
of marketing-related commercial printing products. PLM boasts
state-of-the-art equipment, a diversified customer base that
includes many leading companies, and a dynamic team of employees.
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.
About PLM Group
PLM Group Ltd. (TSX: PGL) 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. Visit the Company’s web site at
www.plmgroup.com.
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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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