Eftpos merger prospectus lodged

Eftpos companies Cadmus Technology and Provenco lodged a prospectus with the Companies Office yesterday for their planned merger.

The rivals, which want to join forces as they step up international expansion plans, have already applied for Commerce Commission clearance.

An independent report by Grant Samuel was expected to be given to shareholders with the merger proposal documents in the new year.

Shareholder meetings will be held in February. Shares in Provenco were down a cent at 52c, and Cadmus was down 0.4c at 12.5c. Provenco has a market capitalisation of $73 million, and Cadmus a market capitalisation of $34 million.