Page 61 - Print21 July-Aug 2018 Magazine

U
News – the best bits ... funnies
Got something you want to tell the rest of the printing industry? Send your news, views, gossip and tip-offs to <news@print21.com.au>.
the OVERflow
production capabilities, expand and streamline our printing and warehousing facilities and grow our business strategically through merger, acquisition and business collaborations,” Celarc said.
Under the proposal, Opus shareholders would exchange their securities in Opus
for securities in a newly incorporated Bermudan entity, Left Field Printing Group Limited (TopCo), on the basis of three TopCo shares for every one Opus share. Once the listing approval from the HKEx has become unconditional, TopCo would list on the HKEx and Opus will be de-listed
from the Australian Securities Exchange (ASX).
The board of Opus has recommended that all Opus shareholders vote in favour of the scheme and declared a special dividend of 13 cents per share.
Shareholders are expected to vote on the plan in early September. 21
Opus to exit ASX
The Hong Kong owners of ASX-listed Opus Group
– which includes Australian printers Ligare, CanPrint and McPherson’s – have laid out a radical business restructure proposal to de-list from
the Australian Stock Exchange, ‘re-domicile’ the company from Australia to Bermuda and apply for a listing on the Stock Exchange of Hong Kong.
In a statement to Print21, Opus Group executive chairman Richard Celarc denied suggestions that
the company’s re-domiciling
to Bermuda was an attempt to avoid paying taxes in Australia.
“The proposal outlined in our announcement to the ASX is not a tax avoidance scheme. Opus has paid and will continue to pay full tax to the Australian government under the three operating subsidiaries – McPherson’s
Printing Group, Ligare Pty Ltd and CanPrint Communications Pty Ltd,” he said.
Opus told the ASX that
the re-domicile scheme will allow shareholders to take advantage of higher market liquidity, increased trading
and investment activities and expected uplift in the company’s market capitalisation.
The plan includes the expansion of its existing Australian printing businesses.
Above: Richard Celarc, CEO of Opus Group.
Ligare, CanPrint and McPherson’s were equipped with 17 major printing presses and binding machines as at 31 March 2018 and the company says more are on the way.
“We will continue to maintain investment in key machinery and equipment to enhance our
Pro-Pac in $60m
JDA PRINT RECRUITMENT
Offset Digital Labels
Packaging Wide-format Print Management
Recruit smarter with the print industry specialists!
Discover how recruitment can save you time and money when you deal with someone who understands all aspects of the printing and its associated industries.
We're part of your industry – whether it be commercial print, labels, packaging, signage or print management.
So call us now...
talent scouts to the printing, packaging & signage industries!
Sales, Production Management, Technical
SYDNEY
James Cryer
02 9904 6222
0408 291 508 james@jdaprintrecruit.com.au
MELBOURNE Chris Gander
03 9874 1582 0413 055 834 chris@jdarecruit.com.au
BRISBANE
James Cryer
02 9904 6222
0408 291 508 james@jdaprintrecruit.com.au
JDA the print industry specialists
www.jdaprintrecruit.com.au
double acquisition
ASX-listed Pro-Pac Packaging Group (PPG), chaired by former Australia Post boss Ahmed Fahour, will raise $59.8 million to buy Victoria-based Perfection Packaging and NZ company Polypak.
Pro-Pac has agreed to pay $49.8 million for flexible packaging manufacturer Perfection, which
employs 100 staff at its 6,000 sqm factory in Dandenong
South, Melbourne. Polypak,
a soft flexible packaging manufacturer and distributor based in Auckland, will be acquired for $NZ8.8 million.
“The acquisitions of Perfection Packaging (Aust)
and Polypak (NZ) represent a significant milestone in PPG’s vision to become the flexible and industrial packaging manufacturer and distribution leader in Australia and New Zealand,” Fahour told the ASX. “I take this opportunity to thank existing shareholders
for their continued support
and to welcome a number of new institutional and retail shareholders to the PPG register as we begin this journey.” 21
Above: Ahmed Fahour.
Print21 JULY/AUGUST 2018 61
S
U
N
T
I
I
N
E
R
T
O
C
E
R
R
T
N
T
T
E
I
I
G
D
R
R
Y
S
H
P