Van der Moolen Announces an Increase of Its Interest in Van der Moolen Specialists USA LLC
June 21 2007 - 2:00AM
Business Wire
Van der Moolen Holding N.V. ("VDM") (NYSE:VDM) (Amsterdam:VDMN)
announced today that it has entered into an option agreement with
the minority partners of VDM Specialists ("VDMS") to acquire the
15.6% minority interest in VDMS. For the next 2 years, Van der
Moolen has the right to purchase the 15.6% interest of the minority
partners for an amount of $8.3 million. In addition, the option
agreement gives the New York partners the right to sell their 15.6%
minority interest in VDMS to Van der Moolen at June 30, 2009 for an
amount of $8.3 million. The option agreement follows on the
increase of the interest of Van der Moolen in VDMS from 75% to
84.4% as a result of the reallocation of the interest between
minority partners and Van der Moolen during the second quarter of
2007. No amount were paid related to this increase. As a result of
the option agreement, 100% of the results of VDMS are included in
the Van der Moolen results as of April 1, 2007. 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 2005. 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.
Van Der Moolen (NYSE:VDM)
Historical Stock Chart
From Oct 2024 to Nov 2024
Van Der Moolen (NYSE:VDM)
Historical Stock Chart
From Nov 2023 to Nov 2024
Real-Time news about Van Der Moolen Ads (New York Stock Exchange): 0 recent articles
More Van der Moolen Holding N.V. News Articles