AP Henderson Group Signs Definitive Agreement to Acquire Hyundai MultiCAV Shanghai Co., Ltd.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 23, 2004 AP Henderson Group Henderson Group plc (LSE: HGI, ASX: HGI) is a British asset management company based in the City of London. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is also listed on the Australian Stock Exchange. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :APHG) today announced that it has entered into a definitive agreement with Hyundai MultiCAV Shanghai Co., Ltd. ("HMSC HMSC Hatfield Marine Science Center (Oregon State University) HMSC Hughes Missile Systems Company hMSC High-Level Message Sequence Chart HMSC Harris-Moran Seed Company HMSC Health & Medical Sciences Conference ") to acquire 100% of its current operations in Shanghai, China and 83,888 square meters (approximately 902,963 square feet) of factory building located in Shandong, China. APHG will issue 51 million shares of its common stock to HMSC in exchange for the assets and operations. APHG is to acquire all assets and operations of Hyundai MulitiCAV Computer Shanghai Co., Ltd, including 500 acres of land use rights and 83,888 square meters of factory building located in Shandong, China. The acquisition is a strategic fit for APHG as HMSC is a joint venture with the Hyundai MultiCAV, a major computer and network electronic manufacturer in Korea. Following the transaction, APHG intends to establish eight new production lines in the Shandong factory acquired from HMSC to expand its current production capacity. APHG intends to utilize the assets and operations acquired from HMSC to manufacture and sell APHG's patented multi-screen Slide View laptop notebook computer A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. design, X-panel(TM). According to the agreement, one of HMSC's current shareholders, the Hyundai MultiCAV of Korea ("HMC HMC Harvey Mudd College (Claremont, CA) HMC Harborview Medical Center (Seattle, Washington) HMC Hosted Messaging and Collaboration HMC Hoffman Modulation Contrast "), shall migrate 80% of its OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and production to the Shanghai factory and Shandong factory in China over the next five years. APHG, acting as HMC's contract manufacturer, intends to conduct the contract manufacturing from the Shanghai and Shandong factories to be acquired from HMSC. HMSC has realized growth and profitability since formation in November 2003. Based on its unaudited financial statements for the two months ended February 29, 2004, the Company has realized total revenue of approximately RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) 90.4 million (US$10.9 million) with net profit of approximately RMB 3.8 million (US $461,160). HMSC projects its revenue for 2004 to reach RMB 1.6 billion, approximately US$200 million. The transaction is subject to completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , US GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). audit of HMSC's financial statements and any regulatory approvals. Mr. Richard Henry, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of APHG, commented that, "Today is a significant day for AP Henderson. We are excited about teaming up with Hyundai MultiCAV Shanghai. With this new addition, AP Henderson, now, has the capacity of exploration and expansion both in the United States and in the greater China region. The combined effort would not only result in global expansion, but also sharing of best technology and tools, management experiences and human resources. We have been seeking for a partner to jointly develop our patented Slide View laptop design, which offers multiple sliding out screens on a laptop computer. Hyundai MultiCAV Shanghai has experiences in desktop and notebook computer manufacturing. The two companies' joint efforts will result in greater exploration into the personal computer markets in the United States and China." About Hyundai MultiCAV Computer Shanghai Co., Ltd. Hyundai MultiCAV Computer Shanghai Co., Ltd., ("HMCS HMCS abbr. Her (or His) Majesty's Canadian Ship ") is the first joint venture company that the Korean Hyundai MultiCAV Co., ("HMC") has established in the People's Republic of China. HMC, a member of the well known Hyundai Group of Korea, is a name brand computer manufacturer and publicly listed on Kosdaq, with products including, Computer Hardware (desktop, laptop, server communication equipment, plasma TV, digital monitor equipment and many other computer and internet related products, software and online gaming programs). HMCS currently has over twenty-four regional sales offices in China and 295 employees. HMCS commenced revenue operations in November 2003 and as of the date of the definitive agreement has total assets of $40 million. About AP Henderson Group AP Henderson Group (OTCBB:APHG), an emerging company that utilizes its market presence in the United States and extensive experience with enterprises in the greater China region, aggressively identifies and pursues the best business opportunities available. APHG targets valuable venture opportunities both in the high-technology and technology driven manufacturing industries. AP Henderson Group, with its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Slide View Corp., is the sole beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of US Patent number 6,532,146 and 6,667,877 for its innovative multi-display laptop computer and peripheral device design with multi-lateral slide-out display panel(s). Slide View Corp., is granted exclusive patent rights to piggy-backed, side-by-side monitor screens in a laptop, which covers two versions. In one version, a second and/or third screen is stored in the main screen's housing. In another version, the second and/or third screen is separable sep·a·ra·ble adj. Possible to separate: separable sheets of paper. sep , snapping on or off the first screen's housing. The two patents combined granted Slide View exclusive rights on the only fully retractable re·tract v. re·tract·ed, re·tract·ing, re·tracts v.tr. 1. To take back; disavow: refused to retract the statement. 2. dual or triple side-by-side monitor screens on a laptop. FORWARD LOOKING STATEMENTS The statements contained in this press release that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. We intend that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements relate to, among other things: (1) the continued development and completion of the X-panel products; (2) expected revenue and earnings growth; (3) estimates regarding the size and our penetration of target markets for the X-panel products; (4) availability of working capital. These statements are qualified by important factors that could cause our actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) our present lack of working capital and our ability to obtain working capital as required, (2) our management's lack of experience in the production and marketing of computer peripherals; (3) the early stage of development of our X-panel products. These forward-looking statements are made as of the date of this release, and the company assumes no obligation to update such forward-looking statements. Refer to the company's reports filed with the Securities and Exchange Commission for more information. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion