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VDM Van Der Moolen Ads

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Share Name Share Symbol Market Type
Van Der Moolen Ads NYSE:VDM NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Van der Moolen Announces the Acquisition of Robbins & Henderson and the Sale of 123,646 NYSE Shares

26/07/2007 7:25am

Business Wire


Van Der Moolen (NYSE:VDM)
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Van der Moolen Holding NV (NYSE:VDM) (Amsterdam:VDMN) is pleased to announce an agreement in principle to acquire a 100% interest in Robbins & Henderson LLC (R & H), a US based institutional broker. R & H offers a wide variety of brokerage services through an experienced team of industry professionals. Gross revenue in 2006 was $ 6.4 million. The acquisition will be subject to regulatory consent. The acquisition price is based on the earnings of R&H for the years 2006, 2007 and 2008. For 2006 the price amounts $ 2 million. The acquisition price for 2007 and 2008 respectively will be the net profit for the year multiplied by factor 4.5 for 2007 and factor 4 for 2008. R&H will be included in the VDM figures as of third quarter 2007 earnings. Richard den Drijver, CEO of VDM: “This acquisition marks the start of a brokerage division for VDM in the US. This will bring us closer to achieving our goal to become a Global Securities Firm in 3 time zones acting as a liquidity provider, a broker and an investor and developer of exchanges. With R&H we can now offer professional services to our broker clients in the US.” Tom Hearden, CEO of R & H: “Together, VDM and R & H will provide a suite of products and services that will enable our customers to be competitive in a global arena. Additionally, this will enhance our ability to recruit experienced investment professionals thereby accelerating the growth of this effort.” VDM furthermore announces that it has sold 123,646 NYSE shares in July 2007 at an average price of $ 74.36. The remaining number of shares VDM owns is 175,476. Van der Moolen trades on the leading US and European equity, option and fixed income exchanges. The group trades in open outcry and electronic markets in several time zones. On the NYSE, Van der Moolen currently has a market share of nearly 11% of transaction volume for which it acts as specialist. Van der Moolen's traders worldwide execute an average of 100,000 trades a day. Turnover and price volatility are the most important factors influencing its results. Van der Moolen's shares are listed on Euronext Amsterdam (VDMN.AS). American Depositary Receipts (ADRs) representing Van der Moolen shares are listed on the NYSE (VDM). 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.

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