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July 2, 1987

DOMINO PRINTING SCIENCES MAKES ONE-FOR-TWO CASH CALL TO BUY OUT ITS US PARTNER

By CBR Staff Writer

We have been highlighting Oxford-based ink-jet printer and speciality ink manufacturer Domino Printing Sciences Plc since before the company came to market some two years ago, and Domino continues to live up to expectations. A rights issue is usually enough to send a company’s share price into the slough of despond, but Domino’s shares bounced 28 pence to 510 when it accompanied a one-for-two cash call at 475 pence a share to raise UKP27.7m with news that first half profits soared 33% to UKP1.9m on sales of UKP8m, and that it wants most of the cash to buy out its US partner. The company it is buying, American Technologies Inc, was created by a management buyout from the former American Can, and is privately-held. Domino is paying $37.4m for the firm, which sells the Domino ink-jet printers and other products in the US, and will have UKP4.6m left over from the rights to build its business further.

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