Premier Group, Hydrogen Group and OPD Group are not permitted to revise the terms of their respective offers for Imprint or introduce any new alternative offers, unless a new bidder puts forward a firm proposal. 

The Takeover Panel made the ruling following yesterday's announcement that its auction process for the offers for Imprint from the three rival bidders ended without anyone putting forward a revised proposal.

The Panel said closing price yesterday put values Premier's offer for each Imprint share at 115 pence; the Hydrogen scheme offers 100.1 pence per Imprint share and a 109.5 pence per share partial cash alternative; and, the OPD offer values each Imprint share at 96.9 pence with a full cash alternative of 93 pence.

The Imprint board said it remains of the opinion that the Premier scheme is superior to the proposals made by Hydrogen and OPD and it continues unanimously to recommend that Imprint shareholders vote in favour of the Premier scheme.

The Premier scheme will lapse if it does not get enough support at a meeting with shareholders on May 2.