Regulatory Filings • Feb 1, 2011
Regulatory Filings
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Public limited company with Board of Directors, with capital stock of 262 576 040.25 Euros. Head Office: 4, Quai de la Mégisserie – F-75001 PARIS R.C.S. Paris 377 913 728 Fiscal year from July 1st to June 30th
Vilmorin and the Chinese investment company Hunan Xindaxin Co. Ltd have signed an agreement according to the terms of which Vilmorin Hong Kong Co. Ltd (a Vilmorin majority-held subsidiary) will sell all its shares (amounting to 46.5% of the capital) in their joint holding company that holds a 21% stake in Longping High-Tech ("LPHT"). The net value of this transaction, subject to approval from the Chinese authorities, can be
estimated to be around 70 million Euros.
At the same time, Vilmorin and LPHT have defined a framework agreement which lays down the guidelines for the creation, management and governance of a new joint venture that will focus as a priority on field seeds, in particular corn and wheat.
This joint venture will be responsible for developing new hybrid corn seeds for the Chinese market, and for their production and distribution. This agreement will also require prior approval from Chinese administration.
"By positioning its cooperation programs directly with Longping High-Tech on a more operational level, Vilmorin is adapting its current organization to changes that have occurred in the Chinese agricultural sector. Asia, and China in particular, remains at the heart of Vilmorin's strategic priorities. In this sense, internal growth through our own direct sites, and partnerships with important local seeds companies, one of which is Longping High-Tech, remain the two priority orientations in our development policy for field seeds and vegetable seeds in this zone", Adrian HUIGE, Vilmorin's CEO, stated.
Based in Changsha, in the province of Hunan, LPHT is one of the main Chinese seeds companies with strong positions in hybrid rice seeds and cereal seeds. LPHT has been listed on the Shenzhen stock market since 2000, and had consolidated sales of more than 130 million Euros in 2009-2010 (excluding chemicals activities).
Wednesday February 9th 2011 at the beginning of the day: sales for the first semester. Wednesday February 23rd 2011 at the end of the day: results for the first semester. Monday May 9th 2011 at the beginning of the day: sales at the end of the 3rd quarter. Wednesday August 3rd 2011 at the end of the day: sales for the fiscal year.
Listed on NYSE Euronext Paris (compartment A), Vilmorin's quotation is included in the Next 150, CAC Mid 100, and SBF 250 indices and is eligible for SRD (Deferred Settlement Order).
ISIN Code: FR0000052516 (RIN).
Daniel JACQUEMOND Claire PLANCHE Chief Financial Officer Financial Communication Officer [email protected] and Investor Relations
Vilmorin & Cie BP 1 – F-63720 CHAPPES Tél. + 33 (0)4 73 63 41 95 - Fax : + 33 (0)4 73 63 41 80
For access to all financial information visit the website www.vilmorin.info
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