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August 31, 1988

MICROFILM REPROGRAPHICS MAKES MAJOR EXPANSION IN THE US

By CBR Staff Writer

Microfilm Reprographics Plc is making a major expansion in the US with agreement to acquire Computer Microfilm Corp of Atlanta, Georgia for $18.6m cash – UKP11m – or $7.10 a share: the company will raise the necessary cash by making a rights issue to shareholders of two new shares for every 11 held at 350 pence a time against a price in the market after the announcement of 431 pence; Computer Microfilm did $1.3m pre-tax on sales of $11.8m in 1987; first half pre-tax rose 62%.

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