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  • BY: Andrew Hore |
  • POSTED: 03/02/2010 |

Matica’s chief executive is requisitioning an EGM in order to get Matica to cancel its Aim quotation.

Matica boss Sandro Camilleri owns 18.43% of the Italy-based supplier of card printing, embossing and mailing machines. He also owns or controls companies with shareholdings in Matica. Added together he is deemed to control 65.24% of Matica, which means he is well on the way to success. He requires 75% of the votes cast for the resolution at the EGM.

The only other major shareholder is KR Energy with a 7.21% stake.

At 10.5p a share, Matica is valued at £4.75m. A seven-for-two rights issue at 10p a share and placing at 10.5p a share at the end of 2009 raised £2.05m. The April 2007 flotation price was 100p a share.

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