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All eyes on Argus equity deal

Tuesday, 12 October 2010
By Print 21 Online Article

Former Moore Business Systems owner, Amir Hyster, will have 36% of the revamped company following the success of the first three subscriptions for equity.

The outcome is in stark contrast to the dire financials that saw Moore Business Systems and Paragon Printing of Albury go belly up earlier in the year with the loss of jobs. The well established printing companies went into administration under a burden of debt.

Since then a series of deals have seen the reorganisation of the businesses with some of the original shareholders emerging with strategic stakes. Argus continues to use the Moore brand in its print management and outsource procurement.

The publicly listed Argus is substantially owned by Hyster, through his ADSone company along with Leo Moio’s Print Media Group. In the wash up PMG will be the major shareholder with 48% of Argus.

In a statement to ASX Argus said the first three subscriptions for equity had totalled $3.49 million. It is projecting revenues of up to $57 million for this financial year.

Although Moore uses the tag line … Moore than just print … a major part of its business is in print management and logistics. PMG bought the Albury plant out of receivership and Argus is still sourcing a considerable amount of forms from the plant.

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