Van der Moolen Holding N.V. ("Van der Moolen") and Global Securities
Finance Solutions Holding B.V ("GSFS") have decided, due to the
current market conditions, to break off and cancel the deal
concerning the proposed participation in GSFS by Van der Moolen.
At 21 November 2008 Van der Moolen announced to have signed a letter
of intent regarding the proposed acquisition of 49.9% of the shares
in GSFS Asset Management B.V. ("GSFS AM") and 33.3% of the shares in
Global Securities Arbitrage B.V. ("GSA"). The purchase price of EUR ?
43.3 million for these shares would be paid by Van der Moolen to GSFS
(i) in ordinary Van der Moolen shares (?29.15 million); and (ii) in
cash (?14.15 million).
In reaction Richard den Drijver, CEO Van der Moolen, says: "As a
result of the development of the market price of the Van der Moolen
shares in the last few months, the intended participation in GSFS AM
and GSA - under the agreed conditions - will not lead to the intended
positive impact on the shareholders value of Van der Moolen.
Therefore Van der Moolen and GSFS decided to cancel the proposed
acquisition. As of today Van der Moolen will exclusively aim to
extend its existing trading and brokerage activities."
Van der Moolen and Global Securities Finance Solutions Holding B.V.
("GSFS") emphasize that the partnership with GSFS remains unchanged.
For further information
For further information please contact Investor Relations/Corporate
Communications, telephone +31 (0)20 535 6789.
www.vandermoolen.com
Disclaimer:
This press release contains forward-looking statements within the
meaning of, and which have been made pursuant to, the Private
Securities Litigation Reform Act of 1995. All statements regarding
our future financial condition, results of operations and business
strategy, plans and objectives are forward-looking. Statements
containing the words "anticipate," "believe," "intend," "estimate,"
"expect," "hope," and words of similar meaning are forward-looking.
In particular, the following are forward-looking in nature:
statements with regard to strategy and management objectives; pending
or potential acquisitions; pending or potential litigation and
government investigations, including litigation and investigations
concerning specialist trading in the U.S.; future revenue sources;
the effects of changes or prospective changes in the regulation or
structure of the securities exchanges on which our subsidiaries
operate; and trends in results, performance, achievements or
conditions in the markets in which we operate. These forward-looking
statements involve risks, uncertainties and other factors, some of
which are beyond our control, which may cause our results,
performance, achievements or conditions in the markets in which we
operate to differ, possibly materially, from those expressed or
implied in these forward-looking statements. We describe certain
important factors to consider in connection with these
forward-looking statements under "Key Information - Risk Factors" and
elsewhere in our annual filing with the U.S. Securities and Exchange
Commission on Form 20-F. We caution you not to place undue reliance
on these forward-looking statements, which reflect our management's
view only as of the date of this Report. We have no obligation to
update these forward-looking statements.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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