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DANKA ANNOUNCES PUBLIC OFFERING OF AMERICAN DEPOSITARY SHARES

 ST. PETERSBURG, Fla., Sept. 2 /PRNewswire/ -- Danka Business Systems PLC (NASDAQ: DANKY) announced today that it has filed a registration statement with the Securities and Exchange Commission. Subject to shareholder and SEC approval, Danka will offer to the public 2,500,000 American Depositary Shares ("ADSs") and provide the underwriters an overallotment option to purchase 375,000 ADSs. The net proceeds from the ADS offering will be primarily used to repay certain borrowings outstanding under its credit facility loan with its primary lenders. The company will utilize a portion of its credit facility loan in connection with an upcoming acquisition of the Omnifax business of Telautograph Corporation. The co-managers of the underwritten offering are Robert W. Baird & Co., Prudential Securities, Inc. and Raymond James & Associates, Inc. The offering is expected to be finalized in October 1993.
 The registration statement relating to the ADSs filed with the Securities and Exchange Commission has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 9/2/93
 /CONTACT: William T. Freeman, 813-576-6003 or Paul G. Dumond, 011-44-71-935-4650, both of Danka Business Systems PLC/
 (DANKY)


CO: Danka Business Systems PLC ST: Florida IN: SU: OFR

PC-AW -- FL006 -- 8369 09/02/93 11:07 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
Words:270
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