EANS-News: Balda AG - Clarification
Balda generates approx. EUR 150 million by
sale of further shares in TPK Holding
01.07.2012 – 23:52
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Subtitle: - Shareholders participate in this transaction by receiving an extraordinary dividend - CEO Dominik Müser: "We consequently execute our plan to fully dispose of all shares in TPK." Bad Oeynhausen (euro adhoc) - Clarification: The new version of the press release clarifies that the holding of Balda Investments Singapore Pte. Ltd. in TPK Holding Co., Ltd. drops to approx. 0.8 %, but will go up to approx. 2 % due to TPK dividends physically made in shares. Bad Oeynhausen, July 1st, 2012 - Balda AG, a specialist for high-quality plastic solutions, has sold through its subsidiary Balda Investment Singapore Pte. Ltd. 15,998,365 shares of TPK Holding Co., Ltd. and generated proceeds in the amount of approx. EUR 150 million. The transaction was made via block-trade organized by the investment firm UBS. The sale, which will not affect the dividend rights of Balda in TPK Holding for the business year 2011, will be recognized in profit and loss of the short business year from January 1st 2012 to June 30, 2012. Balda had already sold 20,000,000 TPK-shares in February 2012 and thereby generated proceeds of approx. EUR 238 million. By the latest transaction, the holding of Balda Investments Singapore Pte. Ltd. in TPK Holding Co., Ltd. further reduces from 7.6 % to approx. 0.8 %, but will go up to approx. 2 % due to TPK dividends for business year 2011 physically made in shares. The management board intends to sell the remaining shares, that will be locked up for 90 days, at an optimized value and to fully dispose of the non-strategic TPK-investment. It also confirmed the aim to distribute a significant amount of the transaction as extraordinary dividend to the shareholders of Balda AG. As a consequence of the conducted sales of TPK-shares, the company expects a significant profit on group-level for the short business year 2012. Dominik Müser, CEO of Balda AG: "By selling a further block of TPK-shares we consequently execute our plan to fully dispose of all shares in TPK. This does not only enable us to pay our shareholders a highly attractive extraordinary dividend for the short business year 2012 but also extend our financial scope of actions for the ongoing reorganization of the operative business of Balda." Further inquiry note: Frank Elsner Frank Elsner Kommunikation für Unternehmen GmbH Tel.: +49 - 54 04 - 91 92 0 Fax: +49 - 54 04 - 91 92 29 Mail: office@elsner-kommunikation.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: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English