The approval means that regardless of the outcome of the Opus Group merger, which is conditional on approval by MPG Printing shareholders at a general meeting in March. McPherson’s Printing will remain separate from McPherson’s limited and it intends to seek a listing of its shares on the Australian Securities Exchange.

David Allman, chairman of McPherson’s says, “Following the demerger, McPherson’s Limited will be a focused consumer products business with scope for a re-rating of the share price, which the directors and others believe is adversely affected by the ownership of two totally unrelated operations.

“It will be better placed to develop its core operations both organically and by acquisition.”

If approved, the Opus Print Group reverse takeover, which was announced in November last year could see Opus become a $140m publicly listed print giant, comprising 30 per cent McPherson’s and 70 per cent Opus equity.

Cliff Brigstocke, CEO of Opus says the merger with McPherson’s Print Division will create a seamless content delivery capability across Australia, New Zealand and South East Asia.

He says, “The merger creates a transformational change for both businesses bring together scale, the latest technology and innovation in the rapidly evolving information content, process and delivery sector.”

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