Peter Maire Takes Cadmus Stake

Thursday, 26 August 2004, 12:52 am
Press Release: Cadmus Technology

26 August 2004

Navman founder, Peter Maire, has been revealed as “the man behind the stand,” picking up 18.4 percent of Cadmus Technology Limited (NZX: CTL) since Tuesday 24 August.

ABN AMRO Craigs had received instruction from Tahia Investments, in which Mr Maire is the main shareholder, to purchase up to 19.9 percent of Cadmus at $0.12 per share. Tahia instructed ABN Amro to withdraw from the market at 5:00 pm on Wednesday 25 August, with Tahia accumulating 18.4 percent of Cadmus. There were no conditions associated with the bid.

Commenting on the background to his bid, Peter Maire said, “I have been looking for a technology company with global potential and one where my skills and experience can really add value. Cadmus is one of those genuinely good New Zealand companies that produces world class payment solutions. They are ready to scale into international markets and I think I can help them with that.”

Cadmus Chairman Keith Phillips said, “Peter’s involvement in Cadmus is both welcome and timely. His engineering and manufacturing experience will be invaluable as we expand. And his knowledge of the international market place will lead to some immediate pay offs. We are delighted to have him as a cornerstone shareholder.”

ENDS

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