01.08.2013 17:00:31
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PRESS RELEASE: CASSONA SE: Interim Management Report for the first two quarters 2013
CASSONA SE / CASSONA SE: Interim Management Report for the first two quarters 2013 . Ad hoc announcement according to -- 15 WpHG. Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
In the first half-year 2013 new businesses could have been conducted. CASSONA still is in the early stage of significant growth. Returns on investments and positive results from exits are still pending. There still is no positive turnover of the company generated by its investments. The basic financial features correspond to the financial report as of December 31, 2012.
New branch offices in Bahrain
The Arabian region continues to possess the world's largest proven oil reserves. In line with the core business of CASSONA for investments in context with fossil fuels and other non-renewable natural resources it is of particular importance for CASSONA to have local presence in Arabia. To identify new investment opportunities for CASSONA in the Arabian region, to select thereof promising projects and to pre-negotiate respective participations, CASSONA has decided to establish regional branch offices.
We have chosen the Kingdom of Bahrain as our preferred location. Bahrain provides to international investors a business friendly and liberal environment by Western standards and Bahrain offers a high degree o legal security and direct connections to the Arabian neighbors.
Development in Kazakhstan
With a surface of more than 2.7 million square kilometers Kazakhstan is almost as large as Western Europe but has a population of only 16.7 million inhabitants. At the same time Kazakhstan is one of the world's richest countries in raw materials and since 2010 provides an average sustainable economic growth of 6.5% annually. Here are numerous opportunities for successful investment projects.
On 27 March 2013 the Memorandum of Understanding between CASSONA and the National Mining Company Tau- Ken Samruk has been signed. This joint declaration of intent quantifies the estimated total investment volume to 2.2 billion US-dollars. CASSONA acts as the financial partner and shall hold an equal participation at the equity of the joint venture company. The contractual arrangements of this project strongly depend on the technical details and on the requirements of the financial structuring. In the course of the fiscal year 2013 all necessary contracts shall be closed to execute the investments during the investment period from 2014 until 2020 in several subsequent investment stages. CASSONA expects to achieve first free cash flows within the second investment stage.
Participations at European airports
The negotiations of investments at different locations of European airports are continuing. On 14 December 2012 the Memorandum of Understanding has been signed to extensively expand a regional airport in Croatia. The specific touristic charm of Croatia as one of Europa's first-class holiday destinations comes from the 6'000 kilometers long fascinating coastline. We will report in detail about this investment project as soon as CASSONA has signed binding contracts successfully. CASSONA as well is close to finalizing negotiations for an investment in an airport in Italy, which has from the logistic point of view an outstanding unique location, though not as passenger airport, but to serve the large demand in the cargo sector. On 11 April 2013 we have signed a Memorandum of Understanding with the local public property company. The parties have agreed on confidentiality regarding detailed information about the project until further binding co- operation agreements have been closed. The project locally receives large political attention and the parties agree to inform the public only when an elaborated final concept is ready for presentation to the general public. In principle there is a large number of potential investment projects at numerous European airports. Our negotiation team guarantees to secure the economical success for CASONA by the best concept and the appropriate drawing up of contracts.
New projects in Mongolia
Mongolia is a large territorial state with the size of 1.564 million square kilometres, larger than Germany, France and Spain all together. But there is a population of less than only 3.18 million inhabitants, thus much less than of the City of Berlin, one third is living in the capital city Ulaanbaatar. The landscape of this landlocked country is characterized by high mountains and high plains in the North and the Gobi Desert in the South. Mongolia is recommended to be one of the ten wealthiest states in natural resources of the world, although the country has been geologically explored only to one third. Up to now more than 6000 deposits of 80 different minerals have been proven, including coal, copper, uranium (ca. 2% of the global resources) crude oil, gold, silver, fluorspar, molybdenum, zinc and diamonds. For the successful exploitation of these resources the supply of electrical energy and the infrastructural development are a first crucial step.
In May the Memorandum of Understanding between CASSONA and the Mongolian Ministry of Energy has been signed and until 24 June 2013 the first project to establish a 450MW power plant on the Tavan Tolgoi coal deposits have been approved. The Tavan Tolgoi Project shall be established as the first of in total five planed highly modern coal-fired power plants. The government of Mongolia intends to utilize the vast coal reserves within the country for the generation of electrical energy instead of exporting the coal to foreign countries and to import electrical energy from neighbouring countries. With the self generated electrical power the successive exploration of the other natural resources could be enhanced.
Stock exchange listing and suspension
The share of CASSONA is primary listed on the regulated market GXG Official List and it is secondary listed at the Frankfurt Stock Exchange, on the electronic trading platform XETRA and at the Berlin Stock Exchange. Since January 2013, CASSONA twice had to face suspension from trading of its shares in Frankfurt and Berlin. The first suspension started on May 15 and endured until June 17, 2013, the second lasted from June 25 until July 25, 2013. Each time the official reasoning given was: "The ordinary trading currently is not possible. The share is suspended from trading until further notice." The suspension was executed ordered by the Frankfurt Stock Exchange. Further information, more detailed explanations or any other kind of discloser of the real motivations have not been supplied. In the aftermath the management of CASSONA tried hard to identify the background of the suspension with the purpose to eliminate all eventual trade barriers. This requires a close exchange with the German Stock Exchange and with the Financial Supervisory Authority BaFin. The management of CASSONA is working on strategies to effectively avoid such situations in the future by increasing internationalisation of the company and by widening the shareholder base with high liquidity via numerous trading platforms.
Company Information
Name and registered office Branch office CASSONA SE CASSONA (GCC) Schubertstraße 14 Trust Tower 60325 Frankfurt am Main Diplomatic Area, Manama Germany Kingdom of Bahrain Tel: +49 69 975831 37 Principal bankers Fax: +49 69 975831 38 Merkur Bank KGaA Email: info@cassona.de UBS AG Website: www.cassona.de ING Luxembourg SA Registration numbers Financial Year ISIN: DE000A1C6T63 1 January - 31 December GXG Official List Auditors HR: HRB 91822 iaab Treuhand Frankfurt am Main WP StB Kurt Lallemand Board of Directors Oliver Walangitang, Chairman Robert Molnár Dr. Jonathan Dariyanani Executive Board Oliver Walangitang
The press release (including tables) can be downloaded from the following link:
Interim Management Statement: http://hugin.info/157697/R/1720597/572842.pdf
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: CASSONA SE via Thomson Reuters ONE
HUG#1720597
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CASSONA SE
Registered Office & Head Office Frankfurt am Main Germany
http://www.cassona.de (END) Dow Jones Newswires
August 01, 2013 10:30 ET (14:30 GMT)- - 10 30 AM EDT 08-01-13
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