PMP won’t give TMA access to more due diligence until it sees proof of funding

Thu, 05 Jul 2012

July 5 (BusinessDesk) - PMP, the ASX-listed printer, said it won’t allow TMA Group further access to its books for due diligence until it sees proof that the would-be suitor could fund a takeover offer. Shares of PMP soared in April when it disclosed a “highly conditional, non-binding indicative offer” from Sydney-based ticketing, parking equipment and packaging services firm TMA of between 68 Australian cents and 78 cents – more than three times PMP’s market value at the time. The stock reached as high as 65 cents on April 27 from 25 cents...

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