Draka accepts Xinmao's invitation to enter into discussions
(Thomson Reuters ONE) -
Reference is made to the press release of Tianjin Xinmao S&T Investment Corp.
Ltd. ("Xinmao") and the subsequent press release of Draka Holding N.V. ("Draka")
both dated 22 November 2010.
After an initial assessment of Xinmao's announced intention to launch a public
offer for Draka of EUR 20.50 in cash per outstanding ordinary share and the
validity of such proposed offer, the Board of Management and the Supervisory
Board of Draka (the "Boards") hereby confirm to accept the invitation of Xinmao
to enter into discussions. In such discussions, the Boards will explore the
rationale, merits and risks for all Draka's stakeholders (including its
shareholders) of a possible business combination of Draka with Xinmao. The
Boards are allowing Xinmao to conduct certain due diligence investigations.
Draka will keep its shareholders and all other stakeholders informed of all
significant developments, and will issue additional statements if and when
appropriate.
This is an announcement in accordance with Section 5:25i paragraph 2 of the
Dutch Financial Supervision Act (Wet op het financieel toezicht).
Pdf version of the press release
NOTE FOR EDITORS: for more information, please contact:
Draka Holding N.V.:
Michael Bosman - Director Investor Relations
+31 20 568 9805;michael.bosman(at)draka.com
+------------------------------------------------------------------------------+
| 2011 Financial calendar (provisional) |
+-------------------------------------------------+----------------------------+
| Publication of 2010 full-year figures | Tuesday 15 February 2011 |
| | (before start of trading)|
+-------------------------------------------------+----------------------------+
| General Meeting of Shareholders, Holiday Inn | Monday 9 May 2011 |
| Amsterdam | Start at 14.30h |
+-------------------------------------------------+----------------------------+
| Publication of trading update for the first | Wednesday 18 May 2011 |
|half of 2011 | (before start of trading)|
+-------------------------------------------------+----------------------------+
| Publication of 2011 half-year figures | Thursday 4 August 2011 |
| | (before start of trading)|
+-------------------------------------------------+----------------------------+
| Publication of trading update for the second | Tuesday 15 November 2011 |
|half of 2011 | (before start of trading)|
+-------------------------------------------------+----------------------------+
Company profile
Draka Holding N.V. ('Draka') is the holding company of a number of operating
companies that are active worldwide in the development, production and sale of
cable and cable systems. Draka's activities are divided into three groups:
Energy & Infrastructure, Industry & Specialty and Communications.
Within these three groups, the activities are organised into divisions. Energy &
Infrastructure consists of the Europe and Asia-Pacific divisions; Industry &
Specialty consists of the Automotive & Aviation, Elevator Products, Cableteq
USA, Industrial and Offshore divisions and the Communications Group comprises
the Telecom Solutions, Multimedia and Specials, Americas and Optical Fiber
divisions.
Draka has 68 operating companies in 31 countries throughout Europe, North and
South America, Asia and Australia. Worldwide, the Draka companies employ some
9,600 people. Draka Holding N.V.'s head office is in Amsterdam. In 2009, Draka
reported revenue of ? 2.0 billion and net income of ? 48.3 million (excluding
non-recurring items).
Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed
on NYSE Euronext Amsterdam. The company is included in the Next150 index and the
AMX index (Amsterdam Midkap index). Options on Draka shares are also traded on
the NYSE Euronext Amsterdam Derivative Markets.
More information on Draka Holding N.V. can be found at www.draka.com.
If you no longer wish to receive Draka Holding N.V. press releases please reply
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This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Draka Holding NV via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 23.11.2010 - 21:41 Uhr
Sprache: Deutsch
News-ID 49050
Anzahl Zeichen: 5337
contact information:
Town:
Amsterdam
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Draka accepts Xinmao's invitation to enter into discussions"
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