DGAP-News: CASSONA SE: Interim Management Report Q3 / 2013
(firmenpresse) - DGAP-News: CASSONA SE / Key word(s): Interim Report
CASSONA SE: Interim Management Report Q3 / 2013
21.11.2013 / 14:00
---------------------------------------------------------------------
Enlargement of the Management Board
The Management Board of CASSONA SE has been enlarged. Thomas Baumgartner
(48) has been appointed as Member of the Management Board and the new
Financial Director and Chief Financial Officer (CFO). He is taking office
after the next General Assembly. Baumgartner can look back on a successful
career of 20 years in the management of a major international bank. He
managed investment portfolios of wealthy families and private individuals
as Managing Director and Chief Executive, which belong to the Ultra High
Net Worth Individuals (UHNWI). Baumgartner is an expert in financial issues
and is responsible for risk control, capital markets, banking and
structured financing. With Baumgartner a powerful expert joins CASSONA, who
will lead the operative investment activities of CASSONA as the Financial
Director together with the Executive Director. Baumgartner will be in
charge for the financial department so that the Executive Director can
concentrate on the operative management of the investment business. Performance of the investment business
In the third quarter 2013 there have been different progresses in the
contemporaneous investment negotiations. In the talks to invest in European
airports the first closing still remains to be concluded. In Croatia the
local government completes the privatization of the respective territories
and prepares the public private partnership within the legal framework of
the new EU membership. Also in Italy there is still a need for
clarification and coordination over matters of traffic rights at different
existing airports. Additional airport projects are currently being reviewed
and selected exploratory talks have started. The performance of the two existing investments in the sector of crude oil
and natural gas show different results. The progress of the investment
project in Alberta in Canada has been highly encouraging. Originally we
have planned the initial public offering for this project already during
this quarter. The IPO has been postponed to a future date as the Management
of CASSONA has decided first to force the successful start of oil
production. Respective negotiations to establish a strategic alliance with
a Canadian partner are successful and should be closed during the current
fiscal year. The aim is to start the oil production in the extraction area
under the existing licenses and concessions without further financial
exposure of CASSONA SE as the holding and investment company. The
prospection and exploration of the crude oil deposits in Saratov in Russia
are not yet completed. Further comprehensive geological and geophysical
studies are needed.
The projecting to establish power plants in Mongolia is proceeding with
best chances of success. Especially aspects of environmental protection are
of particular attention. The use of state-of-the-art technology shall
reduce harmful emissions to nearly zero and at the same time shall keep the
production of the greenhouse gas CO2 at a minimum. CASSONA collaborates in
close cooperation with the Ministry of Environment and Green Development of
Mongolia. The investment to establish the iron and steel production in
Kazakhstan continues. The ongoing financing negotiationsare not yet
finalized. Via our new branch office in Bahrain numerous new investment
opportunities in the Arabian hemisphere have been identified. The current
focus is on building reliable strategic partnerships with strong industrial
partners in Arabia to guarantee the success of our investment projects.
All our current acquisition projects have been put up for review under the
new leadership of CASSONA and will be closely scrutinized with regard to
their future success potential. Not profitable or not yet successfully
concluded investment projects eventually face the risk to be abandoned or
not be developed further. This could also happen to projects, which just
face a longer completion time or where other uncertainties are possible.
General Assembly on 3 December 2013
The Annual General Meeting takes place on 3 December 2013 in Frankfurt
Main. Beside the corporate figures for the fiscal year 2012, we will
present our current investment projects and the strategic development of
the company. One of the major tasks on the agenda is the election of the
new Chairperson of the Board of Directors and Executive Director of CASSONA
SE.
Oliver Walangitang resigns from the Management and the Board of Directors
of CASSONA SE by the end of the next General Assembly paving the way for a
fresh start and a strategic repositioning of CASSONA. Walangitang was
Chairman of CASSONA since 19 July 2011. Under his leadership the company
gained a respected position in the sector of crude oil and natural gas as
well other commodities in Canada, Russia and other independent states of
the former Soviet Union. Later the investment focus extended to
infrastructure, energy and steel.
Dr. Guido Quadri (59) is proposed for election as the new Chairman of the
Board of Directors and the Executive Director of CASSONA SE. Dr. Quadri
provides extended experiences and profound knowledge about the area of
financing and management of international projects of any size. As a member
of an influential industrial family from Bergamo in Italy and after his
studies at the prestigious University of Economic Sciences in Milan 'Luigi
Bocconi', within several decades he has accompanied European leading
financial institutions and large industrial groups of different business
sectors in all kind of different business projects. These include the
opening up and development of new markets, mergers&acquisitions,
management of investment projects, and numerous mandates of project
management and financial structuring.
Dr. Quadri agrees to contribute the wealth of his vast business network to
strong industrial partners and financial institutions in and outside Europe
to his new position as designated Chairman of the Board of Directors of
CASSONA SE. This is supplemented by his healthy feeling for the development
of markets and his clear vision of growth and corporate success, which will
enable him even amid a difficult business environment always to make the
right decision.
According to the one-tier system of the European corporation (Societas
Europaea) of CASSONA SE, the new Chairman of the Board of Directors Dr.
Quadri shall lead as Executive Director simultaneously the Management Board
of CASSONA SE. Thus together with the Financial Director Dr. Quadri leads
the operative investment management of CASSONA. End of Corporate News
---------------------------------------------------------------------
21.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: CASSONA SE
Schubertstrasse 14
60325 FrankfurtGermany
Phone: 030 6150 82 151
Fax: 030 6150 82 152
E-mail: info(at)cassona.de
Internet: www.cassona.de
ISIN: DE000A1C6T63
WKN: A1C6T6
Listed: Freiverkehr in Berlin; Frankfurt in Open Market ; GXG
End of News DGAP News-Service
---------------------------------------------------------------------
241081 21.11.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Noka Resources Announces Listing on the Frankfurt Stock Exchange
Datum: 21.11.2013 - 14:00 Uhr
Sprache: Deutsch
News-ID 319124
Anzahl Zeichen: 10877
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 208 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: CASSONA SE: Interim Management Report Q3 / 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
CASSONA SE (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
