Zwijnaarde, 1 October 2009 - Devgen NV (Euronext, Brussels: DEVG)
completes succesful private placem
(Thomson Reuters ONE) - Regulated informationToday, Devgen issued 1,753,339 new shares for a total amount of ?14.7 million in a private placement. The new shares were placed withpre-identified investors at the average price of Devgen shares overthe past 30 days, i.e. ? 8.38 per share.The pre-identified investors include O.G.B.B. A. van Herk B.V.,Biovest CVA, represented by Mr. Rudi Mariën, member of the board ofdirectors of Devgen nv. and Mr. Thierry Bogaert, managing director ofDevgen nv.With this transaction, the amount of shares increases with 9.8%. Theshares will be issued and paid for at the closing of the transactionon 6 October 2009. It is expected that the shares will be admittedfor listing on Euronext Brussels on or around the aforementioneddate.The proceeds of the offering will be used to grow Devgen's seeds andcrop technology business in line with its business plan, inparticular to accelerate the growth of its premium hybrid rice seedbusiness and the introduction of its biotech traits in rice in theIndian subcontinent and South-East Asia.Devgen was assisted in the transaction by KBC Securities (leadmanager) and Kempen & Co (co-lead manager).About DevgenDevgen's mission is to enable farmers to sustainably grow more foodon less land, with less water, agrochemicals and labour.Devgen uses advanced biotechnology and molecular breeding technologyto make high yielding seeds and crop protection solutions with asuperior environmental profile.Devgen brings this technology to the market in the world's major foodand feed crops through two complementary strategies:- Licensing Devgen technology for use in corn, cotton and soy andselected other crops in exchange for R&D funding, and milestone androyalty payments.- Producing and selling its premium hybrid seeds in major field cropssuch as rice, sunflower, sorghum, and pearl millet, in the Indiansubcontinent and South-East Asia.In its Crop Protection unit, Devgen developed and has taken to marketa novel nematicide, an agro-chemical product that protects crops fromdamage by parasitic nematodes.Incorporated in 1997, Devgen has offices in Ghent (Belgium),Singapore, Hyderabad (India) and Delaware (US) and employs more than200 peopleFor more information please contact:Thierry Bogaert, CEO Wim Goemaere, CFO Monika Van Den Haute, IRTel. +32 9 324 24 24 Tel. +32 9 324 24 24 Tel. +32 9 324 24 24Thierry.Bogaert(at)devgen.com Wim.Goemaere(at)devgen.com Monika.Vandenhaute(at)devgen.comOr visit: www.devgen.comThis press release may contain forward-looking statements containingthe words "anticipates", "expects" , "intends", "plans", "estimates","may" and "continues" as well as similar expressions. Such forwardlooking statements may involve known and unknown risks, uncertaintiesand other factors which might cause the actual results, performanceor achievements of Devgen to be materially different from any futureresults or achievements expressed or implied by such forward-lookingstatements. Factors that could cause or contribute to suchdifferences include, among others: agricultural risks anddifficulties, including weather factors, diseases and pests, thecosts and requirements of regulatory compliance and the speed withwhich approvals are received; public acceptance of biotechnologyproducts; political, economic and social developments in countrieswhere Devgen operates and other risks and factors detailed in thecompany's most recent annual report.These forward looking statements speak only as of the date ofpublication of this document. Devgen disclaims any obligation toupdate such forward looking statements in this document to reflectany change in its expectations, conditions or circumstances on whichsuch statement is based, unless required by law or regulation. Thisdocument does not constitute, or form part of, any offer orinvitation to sell or issue, or any solicitation of any offer, topurchase or subscribe for any securities issued by Devgen NV.http://hugin.info/135721/R/1345390/322935.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 01.10.2009 - 20:55 Uhr
Sprache: Deutsch
News-ID 6511
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completes succesful private placem"
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