$5m Cadmus bid

Sharebroker ABN Amro Craigs is making a $4.98 million stand in the market to buy 18.6 per cent of penny dreadful Cadmus Technology.

The Eftpos unit manufacturer has a market capitalisation of $26.7 million. The broking firm is acting for Tahia Investments, which wants to secure 19.9 per cent.

By the close of the trading yesterday, the company had 17.6 per cent. The stand continues today. Tahia is buying at 12c a share.

There are 222.4 million Cadmus shares on issue. In May, Cadmus blamed a slow uptake of EMV technology for a $430,000 loss for the nine months to March 31.

That result was on $8.31 million revenue, compared with $10.54 million in the previous period.

- NZPA