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New capital for Swets & Zeitlinger
- To: Ylann Schemm <yschemm@nl.swets.com>
- Subject: New capital for Swets & Zeitlinger
- From: Ylann Schemm <yschemm@nl.swets.com>
- Date: Fri, 24 Sep 2004 21:55:16 EDT
- Reply-to: liblicense-l@lists.yale.edu
- Sender: owner-liblicense-l@lists.yale.edu
This might be of interest to members of your list. *** Lisse, the Netherlands September 24, 2004 New capital for Swets & Zeitlinger - EUR 45 million new capital for Swets & Zeitlinger - Investments in e-services to further strengthen business - 2003 accounts approved Royal Swets & Zeitlinger Holding NV announced today that it will strengthen its share capital by EUR 45 million. The shares will be privately placed with existing shareholders, including NPM Capital and Cobepa. The funds will be used to accelerate investments in e-services, strengthen the balance sheet and provide a financially stable basis both for the coming renewal season and for the long-term future. Furthermore, the company has agreed a multi-year credit facility of EUR 150 million with ABN AMRO and ING, which will guarantee prepayments of clients. Paul de Bruin, Chairman of the Supervisory Board, said: "The capital injection of EUR 45 million by the shareholders is a clear vote of confidence in the company. We will accelerate our investments in e-services and we will also use these funds to restructure the company as part of our continuous drive to improve efficiency." Roelof Prins, Managing Director of NPM Capital, said: "We have a lot of faith in the prospects of this company, which has a track record of more than a hundred years. With this capital injection, we strongly believe that Swets & Zeitlinger will also prosper in the coming years." At today's shareholders meeting the 2003 annual accounts were approved. Swets & Zeitlinger recorded sales of EUR 986 million, an operating profit of EUR 8.5 million and a net loss after exceptional items of EUR 11.0 million. The net result excluding one-off items of EUR 18.2 million was EUR 7.3 million. About Royal Swets & Zeitlinger Royal Swets & Zeitlinger Holding NV is an international information group, with over 1,200 employees in 23 countries. Headquartered in Lisse, the Netherlands, Swets & Zeitlinger is a leading print and electronic service provider of scientific and professional information for the academic, corporate and governmental markets. Swets & Zeitlinger's activities are incorporated in the following divisions: Extenza, Swets Information Services, Swets Backsets Service and Swets Farrington Document Systems. Media Contact Marianne Sassen Communication Manager Swets Information Services P.O. Box 830 2160 SZ Lisse, the Netherlands T +31 (0)252 435 389 F +31 (0)252 415 888 E press@nl.swets.com www.swets.com
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