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.