EANS-News: Balda AG
Balda AG: No sale of TPK shares at current trading levels
15.11.2011 – 15:07
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Bad Oeynhausen (euro adhoc) - Bad Oeynhausen, November 15, 2011 - In response to inquiries from shareholders, the management of the Frankfurt listed SDax company Balda AG (BAF) hereby informs that due to the current price level based on market deteriorations in the last six weeks it will not sell any of its shares in TPK Holding Co., Ltd. (TWSE: 3673 or TPK) in a combined offering of new shares of TPK or otherwise. While Balda has obtained the approvals in the Republic of China to sell shares of TPK, Balda would only proceed with the combined offering when the management of Balda believes that the trading price of TPK's common shares reflects the fair value of TPK. Balda has come to this conclusion in close cooperation with TPK who takes the view that from its perspective it is inappropriate to issue new shares under volatile market conditions. TPK has alternatives to finance its CAPEX and therefore, as in the case of Balda, is under no pressure, and not dependant in any way to compromise with current adverse capital market conditions. Rainer Mohr, CEO of Balda, states: "I do not believe that it is in the best interest of Balda's shareholders to proceed with a sale of TPK shares at this point in time; Balda will closely monitor the market to explore other alternatives to monetize its TPK stake at a time when it believes that TPK's shares are fairly valued." 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 pharmaceutical, medical technology, consumer electronics electronic communications and mobile phone markets. The Group is internationally positioned with production sites in Germany and Malaysia. A subsidiary in the USA operates 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 Corporate News 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 Corporate News 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 -------------------------------------------------------------------------------- company: 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