Punch and Punch Telematix do not accept Transics offer
18 March 2010 by LS
Further to the indicative, non-binding offer of Transics to address a voluntary public offering to all shareholders of Punch Telematix nv (‘Punch Telematix’), provided certain conditions are met, the boards of directors of Punch Telematix and Punch International nv (‘Punch’) wish to announce today that they do not accept this offer.Punch currently holds 64.77 % of the shares in Punch Telematix.
Punch Telematix is an autonomous, debt-free and cash-generating company. It realises that some form of consolidation in the telematics sector may be desirable in the future. Punch Telematix is prepared to consider any scenario, provided it is advantageous to all stakeholders: personnel, customers, suppliers and shareholders.