Further update on discussions with Xinmao
(Thomson Reuters ONE) -
Over the last weeks Draka Holding N.V. ("Draka") has facilitated Tianjin Xinmao
S&T Investment Corp. Ltd. ("Xinmao") in its due diligence investigation by
providing access to a data room as well as access to Draka's management and its
advisors. During the last two days there have been further discussions with
Xinmao's Chairman and CEO, including a site visit to one of Draka's production
facilities. These discussions have focussed on the finalisation of Xinmao's due
diligence as the data room will be closed by the end of this week. Furthermore,
Xinmao has provided an update on the status of its proposal.
Whilst the discussions with Xinmao are ongoing, the Board of Management and the
Supervisory Board of Draka (the "Boards") remain concerned about the progress
made to date by Xinmao in respect of securing financing and obtaining the
relevant approvals. Therefore, the Boards would like to reiterate their view
that it remains uncertain that a transaction involving an offer for all of the
outstanding shares in Draka can be agreed.
Draka will continue its discussions with Xinmao and will update its shareholders
and other stakeholders on any significant developments 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
Pdf versie van het persbericht
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 half of |Wednesday 18 May 2011 |
|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 half of|Tuesday 15 November 2011 |
|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
9,400 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 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
[HUG#1473546]
Unternehmensinformation / Kurzprofil:
Datum: 17.12.2010 - 08:31 Uhr
Sprache: Deutsch
News-ID 49822
Anzahl Zeichen: 5620
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"Further update on discussions with Xinmao"
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Draka Holding NV (Nachricht senden)
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