Reference is made to the press release of Tianjin Xinmao S&T Investment Corp. Ltd. ("Xinmao") dated 22 November 2010 and the press releases of Draka Holding N.V. ("Draka") dated 22 and 23 November 2010.
The Board of Management and the Supervisory Board of Draka (the "Boards") hereby confirm that, in view of their fiduciary duties to act in the interest of all stakeholders (including in particular the shareholders) of Draka as well as the concerns articulated publicly, they have today requested Xinmao to provide elaborate and detailed written information and substantiating documentation in respect of questions and matters raised in connection with Xinmao's announced intention to launch a public offer for Draka. The Boards' concerns as to the identity of Xinmao and its (ultimate) shareholders, debt and equity financing of the proposed offer and the required regulatory approvals including its timing will need to be addressed by Xinmao to enable the Boards to further explore and subsequently review Xinmao's proposed offer. Draka anticipates to receive adequate clarification and underlying evidence from Xinmao on short notice.
Draka will keep its shareholders and all other stakeholders informed of all significant developments, and will issue additional statements if and when appropriate.
This is an announcement in accordance with Section 5:25i paragraph 2 of the Dutch Financial Supervision Act (Wet op het financieel toezicht).