Van der Moolen Holding N.V. ("VDM") announced today that it has entered into an option agreement with the minority partners of VDM Specialists ("VDMS") to acquire the 15.6% minority interest in VDMS. For the next 2 years, Van der Moolen has the right to purchase the 15.6% interest of the minority partners for an amount of $ 8.3 million. In addition, the option agreement gives the New York partners the right to sell their 15.6% minority interest in VDMS to Van der Moolen at June 30, 2009 for an amount of $8.3 million.
The option agreement follows on the increase of the interest of Van der Moolen in VDMS from 75% to 84.4% as a result of the reallocation of the interest between minority partners and Van der Moolen during the second quarter of 2007. No amount were paid related to this increase.
As a result of the option agreement, 100% of the results of VDMS are included in the Van der Moolen results as of April 1, 2007.