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Cadmus and Intellect Merger Update

Published: Thu 7 Dec 2006 10:13 AM
MARKET RELEASE
Cadmus and Intellect Merger Update
Auckland, 6 December 2006 – Cadmus Technology Limited (NZX: CTL) (“Cadmus) and Intellect Holdings Group (ASX: IHG) (“Intellect”) announced today that both parties were still working on the revised agreement for Cadmus to acquire Intellect’s operating subsidiary Intellect International NV.
Ian Bailey, Managing Director of Cadmus, says that while it is unfortunate that the process was taking longer than originally anticipated it was also equally very important to ensure that both parties are comfortable with the final agreement to consolidate Intellect’s assets into Intellect International NV.
“Both parties are still committed to making this deal work. However, over the last few months we have had to agree the assets to be included in the transaction and ensure that it can deliver cost savings in a merged structure,” says Bailey.
Bailey says that the proposed merger is a complex commercial transaction which both parties want to make sure is the very best it can be for both sets of shareholders.
It is anticipated that by the early New Year both Intellect and Cadmus will have had the time to receive and review all the necessary information to put before their shareholders in order to make a fully informed decision.
ENDS

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