EANS-News: Balda generates around EUR 87 million from sale of the remaining shares in TPK Holding (with document)
01.02.2013 – 10:09
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Earnings Forecast/Sale of Shares Bad Oeynhausen (euro adhoc) - Bad Oeynhausen, 1 February 2013 - Balda AG, a producer of high-quality plastic products, today announced that it has sold a total of 7,066,008 shares in TPK Holding Co., Ltd. via its Group company Balda Investments Singapore Pte. Ltd., generating proceeds of around EUR 87 million (based on today's exchange rate). The transaction was carried out by way of a block trade organized by investment bank CitiGroup. By executing this carefully prepared sale, the Management Board follows through on its announcement made at the Annual Annual General Meeting on 7 November 2012 to sell the remaining shares in TPK Holding Co. Ltd. at the best price. The sale will be reflected in Balda AG's earnings for the 2012/2013 financial year. As a result, a strong consolidated profit is to be expected for that financial year. Dominik Müser, Chief Executive Officer of Balda AG: "By selling the last batch of shares in TPK at the best price, we have now fully executed our announced plan to dispose of the shareholding altogether. We expect this sale to result in another strong consolidated profit for 2012/2013." Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/CKJ7UFxC http://resources.euroadhoc.com/us/rAu7GfDb Further inquiry note: Contact: 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 -------------------------------------------------------------------------------- Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/CKJ7UFxC http://resources.euroadhoc.com/us/rAu7GfDb company: Balda Aktiengesellschaft Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2604 mail: info@balda.de WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: SDAX, Prime All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English