Balda AG

EANS-Adhoc: Balda AG
Balda AG has conducted itself lawfully with respect to subsidies in China
Company rejects reproaches in the Handelsblatt report

--------------------------------------------------------------------------------
  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
--------------------------------------------------------------------------------
Company Information

29.09.2011

Bad Oeynhausen, 29th September 2011 - Balda AG, listed on the SDax of the
Frankfurt stock exchange, rejects the reproach published by the Handelsblatt
(29th September 2011). According to the report, the Balda Group´s Chinese
subsidiary - BTO - was purported to have surreptitiously obtained subsidies from
the Chinese government. Balda asserts that: BTO has conducted itself in a
correct and lawful manner. To date, Chinese officials have made no objections
whatsoever. BTO was entitled to the subsidy payments. 

In contrast to the claims published by the Handelsblatt, the total subsidies
received in 2010 amounted not to 54 million Renminbi (6.2 million Euros) but
rather to 1.8 million Renminbi (approx. 0.2 million Euros). According to the
Handelsblatt, the factory used in order to surreptitiously obtain the subsidies
was spurious and did not exist. The truth is: The factory is a newly built,
modern production facility located in the economic zone of Ling Kong, close to
Beijing Airport. The commissioning of the 13,700 m2 production space and start
of production took place in July 2010. An additional subsidy granted to Balda in
China in 2008 - amounting to 17 million Renminbi (around 1.9 million Euros) - on
the occasion of the acquisition of the rights to the plot for the aforementioned
factory, at a cost of 54 million Renminbi (6.2 million Euros), has also resulted
in no objections from Chinese officials.

end of ad-hoc-announcement
================================================================================
Company profile of Balda AG
The Balda Group develops and produces complete plastic assemblies, electronic
products and products for the medical technology industry. Balda´s customers are
leading companies in the mobile phone, consumer electronics, electronic
communications, pharmaceutical and medical technology  markets. The Group is
internationally positioned with production sites in China, Malaysia and Germany.
A subsidiary in the USA serves North American customers in product design and
development. Within the scope of its shareholding in a leading touchscreen
manufacturer in China, Balda is participating in the dynamic development of the
touchscreen displays market.

This ad-hoc announcement contains forward-looking statements, which are based on
the current expectations of Balda´s management. They therefore contain a range
of risks and uncertainties because they relate to future events and depend on
circumstances that will occur in the future, such as, for example, developments
in the mobile communications industry, changes in technology and the ability to
timely and successfully develop new products and various other factors. Balda
will neither revise these forward-looking statements nor correct them in the
event of any unexpected development, unless there is a legal obligation to do
so.

This ad-hoc announcement represents neither an offer to buy shares nor an
invitation to submit an offer to buy shares in the United States or any other
country. The shares in Balda AG (the "shares") may not be offered or sold in the
United States or to or for the account of U.S. persons (as defined in Regulation
S of the U.S. Securities Act of 1933, in its current version (the "Securities
Act")), unless they are registered or are exempt from registration under the
Securities Act. The shares have not been and will not be registered under the
Securities Act.


Further inquiry note:
Clas Röhl
Tel.: +49 (0) 5734 922-2728
croehl@balda.de

end of announcement                               euro adhoc 
--------------------------------------------------------------------------------


issuer:      Balda AG
             Bergkirchener Str.  228 
             D-32549 Bad Oeynhausen
phone:       +49 (0) 5734 9 22-0
FAX:         +49 (0) 5734  922-2747
mail:     info@balda.de
WWW:      http://www.balda.de
sector:      Semiconductors & active components
ISIN:        DE0005215107
indexes:     CDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, München 
language:   English
 



Weitere Meldungen: Balda AG

Das könnte Sie auch interessieren: