Business Services Industry

Agreement to Repurchase and Redeem Shares Held by Datamark Inc. in Datamark-Lithochrome Inc

Business Wire, March 15, 1996

MONTREAL, Quebec--(BUSINESS WIRE)--March 15, 1996--Datamark (ME:DMK) Mr. Frank Heller, Chief Executive Officer of Datamark Inc. ("Datamark"), the shares which are listed on the Montreal Stock Exchange under the symbol DMK, is pleased to announce that pursuant to a share repurchase agreement signed yesterday, Datamark-Lithochrome Inc. ("Datamark-Lithochrome"), a subsidiary of Datamark specializing in pre-press and commercial printing, agrees to repurchase and redeem all the issued and outstanding common and preferred shares held by Datamark in Datamark-Lithochrome, subject to certain terms and conditions. The closing date is anticipated to be March 22, 1996. The common shares being repurchased and redeemed represent 70.9 percent of the total issued and outstanding common shares of Datamark- Lithochrome.

The price payable by Datamark-Lithochrome in consideration of the repurchase and redemption of the above shares shall amount to one (1) million dollars ($1,000,000) such amount to be added to Datamark's working capital.

Subsequent to the closing date, Datamark-Lithochrome will no longer be a subsidiary of Datamark.

CONTACT: Datamark Inc.

Jeffrey Zuneneshine

President

(514) 367-4468

COPYRIGHT 1996 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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