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Transcontinental Offer For PLM Group Successful

Thursday, October 18, 2007

Press release from the issuing company

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.

 

 

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