AMG announces Safeguard International Fund, L.P. completes orderly transition of its AMG shareholdings
(Thomson Reuters ONE) -
Amsterdam, 2 September 2010 --- AMG Advanced Metallurgical Group N.V. ("AMG",
EURONEXT AMSTERDAM: "AMG") was informed by its largest shareholder, Safeguard
International Fund, L.P. and affiliates ("Safeguard International") that
Safeguard International has successfully completed an orderly transition of all
of its shareholdings in AMG. As previously announced, Safeguard International
was an owner of 7.8 million AMG shares. Safeguard International is scheduled to
dissolve on 31 March 2011 and it intended to transition its AMG shareholdings no
later than 30 September 2010.
As part of the transition of its shareholdings, Safeguard International has
distributed 4.7 million shares of AMG common stock to certain of its Limited
Partners. The remaining Limited Partners of Safeguard International will
receive the net proceeds of its private placement of 3.1 million shares of AMG
common stock, which was priced on 2 September and is expected to be settled on
7 September.
The Royal Bank of Scotland N.V. acted as sole global coordinator and sole
bookrunner on behalf of Safeguard International for the private placement.
"We thank Safeguard International for its long term support of AMG. We also
look forward to working with our new investors, including those Safeguard
International investors which will continue to hold AMG shares. We are
obviously pleased that the uncertainty related to the expected distribution of
AMG shares by Safeguard International has been removed", stated Dr. Heinz
Schimmelbusch, Chief Executive Officer and Chairman of the Management Board of
AMG.
About AMG
AMG creates and applies innovative metallurgical solutions to the global trend
of sustainable development of natural resources and CO(2) reduction. AMG
produces highly engineered specialty metal products and advanced vacuum furnace
systems for the Energy, Aerospace, Infrastructure and Specialty Metals and
Chemicals end markets. AMG consists of two operating divisions, Advanced
Materials and Engineering Systems, and owns interests in publicly-listed
companies Graphit Kropfmühl AG (Deutsche Börse: GKR.DE) and Timminco Limited
(TSX: "TIM").
The Advanced Materials Division develops and produces specialty metals, alloys
and high performance materials. AMG is a significant producer of specialty
metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys
and additives, chromium metal and ferrotitanium, for Energy, Aerospace,
Infrastructure and Specialty Metal and Chemicals applications. Other key
products include specialty alloys for titanium and superalloys, coating
materials, tantalum and niobium oxides, vanadium chemicals and antimony
trioxide.
The Engineering Systems Division designs, engineers and produces advanced vacuum
furnace systems and operates vacuum heat treatment facilities, primarily for the
Aerospace and Energy (including solar and nuclear) industries. Furnace systems
produced by AMG include vacuum remelting, solar silicon melting and
crystallization, vacuum induction melting, vacuum heat treatment and high
pressure gas quenching, turbine blade coating and sintering. AMG also provides
vacuum case-hardening heat treatment services on a tolling basis.
Graphit Kropfmühl AG is a majority controlled, publicly listed subsidiary of
AMG. Based on its secure raw material sources in Africa, China and Europe,
Graphit Kropfmühl is a specialist in the production of silicon metal and the
extraction, processing and refining of natural crystalline graphite for a wide
range of energy saving industrial applications.
Timminco Limited is a publicly listed affiliate of AMG. Timminco produces
silicon metal for the chemical, aluminum, electronic and solar industries.
Timminco also produces solar grade silicon, using its proprietary technology for
purifying silicon metal, for the solar energy industry.
With over 2,300 employees, AMG operates globally with production facilities in
Germany, the United Kingdom, France, Czech Republic, the United States, Canada,
Mexico, Brazil, and Sri Lanka and also has sales and customer service offices in
Belgium, Russia, China and Japan (www.amg-nv.com).
For further information please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901
Jonathan Costello
Vice President of Corporate Communications
jcostello(at)amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are
"forward looking." Forward looking statements include statements concerning
AMG's plans, expectations, projections, objectives, targets, goals, strategies,
future events, future revenues or performance, capital expenditures, financing
needs, plans and intentions relating to acquisitions, AMG's competitive
strengths and weaknesses, plans or goals relating to forecasted production,
reserves, financial position and future operations and development, AMG's
business strategy and the trends AMG anticipates in the industries and the
political and legal environment in which it operates and other information that
is not historical information. When used in this press release, the words
"expects," "believes," "anticipates," "plans," "may," "will," "should," and
similar expressions, and the negatives thereof, are intended to identify forward
looking statements. By their very nature, forward looking statements involve
inherent risks and uncertainties, both general and specific, and risks exist
that the predictions, forecasts, projections and other forward looking
statements will not be achieved. These forward looking statements speak only as
of the date of this press release. AMG expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward looking
statement contained herein to reflect any change in AMG's expectations with
regard thereto or any change in events, conditions or circumstances on which any
forward looking statement is based.
About the Private Placement
The AMG shares mentioned herein have not been, and will not be, registered under
the United States Securities Act of 1933 (the "Securities Act").
The AMG shares may not be offered or sold in the United States except pursuant
to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. There will be no public offer of securities
in the United States.
In the European Economic Area, this announcement and any offer shall be directed
only at persons who are "qualified investors" within the meaning of Article
2(1)(e) of the Prospectus Directive (2003/71/EC). No prospectus is or shall be
prepared or published.
This announcement is only directed at persons outside the United Kingdom or
persons within the United Kingdom falling within the definition of investment
professionals (as defined in Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "Order")) or Article 49(2)(a) to
(d) of the Order, or other persons to whom it may lawfully be communicated in
accordance with the Order and without contravening Section 21 of the Financial
Services and Markets Act 2000. In the case of investment professionals, this
announcement is only directed at persons having professional experience in
matters relating to investments, and the investment or investment activity to
which this announcement relates is only available to and will be engaged in with
such persons. Persons who do not have professional experience in matters
relating to investments should not rely or act on the contents of this
announcement.
The Royal Bank of Scotland N.V. ("RBS") is acting exclusively for Safeguard
International Fund, L.P. and for no one else in connection with the private
placement and will not be responsible to anyone other than Safeguard
International Fund, L.P. for providing the protections afforded to the customers
of RBS or for providing advice in relation to the private placement or any
transaction or arrangement referred to herein.
AMG announces Safeguard International Fund, L.P. completes orderly transition of
Its AMG shareholdings
[HUG#1442267]
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originality of the information contained therein.
Source: AMG Advanced Metallurgical Group N.V. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 02.09.2010 - 10:34 Uhr
Sprache: Deutsch
News-ID 41118
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