26.03.2007 | Corporate News - Hansen exercises option to repurchase shares
+++ Hansen exercises option to repurchase shares
+++ Increase of interest in the South African Hansen+Genwest from 70.55 percent to 100 percent
Munich, March 26th, 2007: Hansen Sicherheitstechnik AG (ISIN: DE000HAST002) increased its interest in the South African branch Hansen+Genwest by 29.45 percent to 100 percent. The takeover of the shares held by a local investor became possible because of a contractual option to repurchase the shares which had been coupled to an access to Black Economic Empowerment Projects. As for Hansen, this access could not be materialized sufficiently despite the positive operative development of the South African affiliate.
In 2006, the Hansen+Genwest located close to Johannesburg earned a preliminary EBIT of about TEUR 280. Expressed in local currency, from 2005 to 2006 the turnover was increased by 34 percent to approx. EUR 3.4 million. The interest in the amount of 29.45 percent was repurchased at a very low price of about TEUR 100.
"We are very pleased about the fact that with Christoph Schroeder, starting from June 1st, 2007, we were able to win one of our best managers for South Africa including the optimistic markets to be operated from there, Australia and India", says Christian Dreyer, CEO of Hansen Sicherheitstechnik AG. Being a graduate engineer as well as an MBA, Schroeder (40) changes from Hansen Group´s Hansen & Reinders GmbH, and during the past years proved himself in the Russia related business of the Hansen Group. "Together with Mr. Schroeder we regard ourselves as optimally positioned for the further growth strategy of the Hansen Group in the southern hemisphere", Dreyer adds.
The Management Board
Hansen Sicherheitstechnik AG
Brienner Str. 10, 80333 Munich
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